We recently learned that according to the National Student Legal Defense Network there were about 3,600 higher ed institutions have terminated their operation or gone away since November 2013. While the current administrator, by the order of the court has cancelled the student loans taken by about 15 thousand students who have attended one of those 3,600 organizations. This is clearly an example of a special case, where the government bailed-out students’ debt. One may have the following question, then what happen to the management who operated those 3,600 institutions? So far, it seems nothing is happening. This leads us to believe that “no consequences” of mismanagement that have been imposed to mismanage any schools. Therefore, it attracted many “businessman” to enter the industry.