Anyone know about Regents school?

I am an RN and one of my close friends just completed a training program with Regents/Excelcior to bridge from LPN to RN. She has paid a lot of money for the clinicals and from what details she has told me it is a sham. She did not pass her clinicals and of course I asked what exactly happened. After hearing the details I felt like they were all set up to fail.
She also said almost everyone fails and of course they invite you to return after you pay another bucket of money to them. Great money making deal.
So many LPN's are trying to get ahead and in this economy I think it is a SHAME that this company is getting away with this.
How many nurses now in this time in our country are supporting their own family as well as helping extended family and probably even friends that are out of work. Of course we want and need properly trained nurses but no school that I have attended or ANY of my RN friends have had similar experiences such as this.
I personally think this needs to be looked at more closely and reported to the proper authorities.
Please send a reply if you have had a similar experience.
Thank you, Beth