“Corinthian Colleges Inc., once one of the nation’s largest chains of for-profit colleges, announced Sunday it is abruptly shutting down after failing to find buyers for its roughly 30 remaining campuses…
“[This leaves] up to 16,000 students in the lurch and potentially costing the U.S. Department of Education tens of millions of dollars in forgone federal student loan payments…
“The California-based chain at its peak operated more than 120 colleges with more than 110,000 students across North America under the Everest, Wyotech and Heald brands.
“Last July, under pressure from the Education Department over a paperwork dispute, the company struck a deal with the Obama administration to sell or close all of its campuses over the following six-month period…”
Read more at Huffington Post
