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_how-one-billionaire-lost-millions-and-left-underserved-scholarship-students-in-limbo.webp "On March 21, the roughly 70 employees of the Schuler Education Foundation, based in the affluent suburb of Lake Forest, Illinois, were summoned to an emergency all-hands meeting. Over the past two-plus decades, the nonprofit founded and funded by a former president of healthcare giant Abbott Laboratories, Jack Schuler, had spent at least $150 million counseling and tutoring more than 1,800 low-income students from Chicago and Milwaukee-area high schools to help them gain admission to elite colleges; those colleges in turn covered most (if not all) of the students’ tuition and other costs.<br/><br/>The employees, who first had to certify they wouldn’t record anything, were let into a Zoom room where the nonprofit’s executive director Joanne Bertsch read from a script announcing that the foundation would shut down on May 24. Everyone would be let go except for a skeleton crew of seven college counselors left to support students through August. <br/><br/>0:00 Introduction<br/>0:15 How Our Reporters Found Out About Jack Schuler<br/>3:05 Reporting On The Schuler Foundation<br/>5:45 Losing Money In The Market<br/>8:50 The Role Of Healthcare Stocks<br/>12:23 The Impact On Students And Colleges<br/>16:05 How The Foundation Behaved As Their Investments Lost Value<br/><br/>Read the full story on Forbes: https://www.forbes.com/sites/giacomotognini/2024/04/16/inside-the-collapse-of-a-former-billionaires-foundation-for-low-income-students/?sh=b52a7d62f78b<br/><br/>Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/>Stay Connected<br/>Forbes newsletters: https://newsletters.editorial.forbes.com<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com<br/><br/>Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.")
_how-to-become-a-plus-two-teacher-in-kerala.webp "Dr.Paul V Mathew")
_top-boarding-schools-in-kerala-124-best-boarding-school-in-kerala-124-boarding-school-in-kerala.webp "allschoolscolleges")
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_thisyear-in-thailand-blessings-shorts-participate-in-thisyear-only-on-youtube-shorts.webp "Ahaana Krishna")
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_religion-percentage-of-kerala-from-1901-to-2011-124-70-percent-hindu39s-in-kerala-in-1901-amp-now.webp "Akhand Bharat")
Religion percentage of Kerala from 1901 to 2011 🤐👏| 70 percent Hindu's in Kerala , in 1901 ?😯😲& Now?
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_india-vs-america-accent-challenge.webp "Kumaar Family")
_oh-my-god-124-see-what-this-two-college-girls-did-is-really-surprising.webp "3RD EYE")
_2-free-period-124-comedy-124-karikku.webp "Karikku")
_top-10-best-schools-in-thrissur-2024.webp "Helping Munde")
_school-rag-kasaragod-college-fight-collage-fight-schoolfight.webp "Trend- OX")
_best-boarding-schools-in-kerala-124-top-boarding-schools-in-kerala-124-schools-in-kerala-124-edustoke-124.webp "Edustoke")
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