Week in Review

Apr/28/2015 - 8:06pm

Career College Central Summary:

The abrupt closure of for-profit Corinthian Colleges Inc. may cost U.S. taxpayers more than $200 million in canceled student loans.

Corinthian reached an agreement on Sunday with the Education Department to shutter its 28 campuses serving about 16,000 students. Forgiving their debt, if all students request it, would cost the government about $214 …

Apr/28/2015 - 7:59pm

Career College Central Summary:

The Wall Street Journal editorial board falsely blamed the Obama administration for the closing of for-profit college company Corinthian Colleges, ignoring mountains of evidence that the company engaged in exploitative practices against its students.

Corinthian Colleges Inc. announced on April 26 that it would immediately shut down its 28 remaining campuses, following reports …

Apr/28/2015 - 7:54pm

Career College Central Summary:

Corinthian Colleges, once among the largest for-profit educational institutions, collapsed Monday under charges of predatory lending, deceptive advertising, falsifying job-placement statistics, and other abuses. One of the questions raised immediately by Corinthian’s closure is what will happen to the current students who’ve borrowed federal money to attend the sham school—will the government …

Apr/28/2015 - 7:48pm

Career College Central Summary:

Six Democrats in Congress wrote a letter Monday to the Department of Education about debt relief for students attending schools that have committed fraud.

The Chronicle of Higher Education reports that the letter asked Education Secretary Arne Duncan to inform eligible students of their debt relief options immediately.

Lawmakers also asked for more information …

Apr/27/2015 - 8:31pm

Career College Central Summary:

It’s good that Education Department regulators don’t oversee drone strikes. Behold how DoE’s blunderbuss assault on the for-profit Corinthian Colleges has harmed thousands of students and employees.

On Monday the Santa Ana-based for-profit shut down its remaining 28 schools, which no buyer would purchase amid the government’s regulatory ambush. The closure displaces 16,000 …

Apr/27/2015 - 8:24pm

Career College Central Summary:

That the for-profit school industry is grinding out defeat, debt and joblessness — along with certificates of completion — is egregious enough. That it’s doing so with the state of Florida’s blessing is downright disgusting.

Miami Herald writer Michael Vasquez dives deep this week into the morass of for-profit colleges, in his week-long, …

Apr/27/2015 - 8:20pm

Career College Central Summary:

Several dozen students gathered outside Heald College in Roseville Monday morning, sharing frustration and some tears with classmates and teachers after the abrupt weekend closure of Heald and other colleges run by for-profit Corinthian Colleges.

Pura Hernandez, 31, fought back tears as she described herself as a disabled woman already working in the …

Apr/27/2015 - 8:16pm

Career College Central Summary:

Michael Clifford, a long-time investor in for-profit education, said the closure of Corinthian Colleges Inc. (Nasdaq: COCO) is yet another example of the demise of the for-profit education industry.

"I do not believe there's any future in for-profit education anymore," he said.

Clifford was a pioneer in for-profit education, investing early on in Grand …

Apr/26/2015 - 8:46pm

Career College Central Summary:

Corinthian Colleges, Inc., today announced the effective end of all operations. Given the wide public interest in this matter, and our Departments involvement in it, I wanted to provide some background and explain what has happened, as I have done in the past.

Corinthian’s closure follows a series of enforcement actions by this …

Apr/26/2015 - 8:37pm

Career College Central Summary:

Former President Bill Clinton has stepped down from his position as the honorary chancellor of Laureate Education, the world’s largest for-profit college chain, the company announced today. Laureate operates 84 for-profit schools across the globe, many of them in the developing world.

Laureate has largely been shielded from the public eye because it …

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