EDUCATION DIVE: California lawsuit threatening Corinthian sale
Career College Central Summary:
Corinthian Colleges Inc. says a lawsuit by California Attorney General Kamala Harris — and her decision to make any future buyers liable for its outcome — is limiting California campuses’ marketability.
Inside Higher Ed reports that the for-profit education company needs to find a buyer in the next several weeks or it could close its California campuses, displacing current students and leaving the federal government on the hook for their student loans.
The U.S. Department of Education is still deciding how to proceed with Corinthian if it doesn’t find a buyer because Under Secretary of Education Ted Mitchell already told lawmakers it wouldn’t be allowed to continue operating indefinitely, according to the article.
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