completed its acquisition of Walden University for $1.48 billion. In May 2022, Michael Betz was appointed as the president of Walden University. Betz previously served as a partner at McKinsey & Co. and was a leader in McKinsey’s higher education and growth transformation practices. Walden is the top granter of healthcare administration master's degrees, Master of Science in Nursing degrees, and public health doctoral degrees in the U.S., according to the National Center for Education Statistics IPEDS database. African American student population Walden University graduates a high number of Black/African American students. According to the NCSES's 2020 Survey of Earned Doctorates, Walden University granted doctorates to 1,383 Black or African American students between 2016 and 2020. This was the highest number of Black doctoral recipients granted by a U.S. university during that period and represented about 37% of the 3,726 total doctoral students that graduated from Walden during that same period. In January, 2022, the civil rights law firm Relman Colfax and the National Student Legal Defense Network filed a class-action lawsuit against Walden University that alleges that Walden engages in “reverse redlining” by targeting its advertisements to Black and female students while misrepresenting the costs and credit hours required for its doctoral degrees. Relationship to Bill Clinton From 2010 to 2015, former US President Bill Clinton was an Honorary Chancellor of Laureate International Universities, Walden's former parent company. He received $17.6 million from Laureate as part of this role. President Clinton was the keynote speaker at Walden University's commencement on July 30, 2011. During the 2016 United States presidential election, then-candidate Donald Trump alleged that his opponent Hillary Clinton used her husband's connection to Laureate Education to launder money through grants to the institution from the State Department. However, fact checkers at The Washington Post and PolitiFact.com found no evidence that Laureate received money from any federal agency during Bill Clinton's presidency or while Hillary Clinton was secretary of state. Institutional finances Walden University receives more than 75% of its funds from the US government, including more than $750 million a year for graduate student loans, the largest amount for any US college. Walden University has been under "heightened cash monitoring" from the US Department of Education since 2016. On April 8, 2016, the Minnesota Office of Higher Education (MOHE) notified Walden University that its renewal application to participate in the State Authorization Reciprocity Agreements (SARA) was rejected because