Heald, WyoTech, Everest schools will remain open under agreement with feds
Source: San Jose Mercury News
The U.S. Department of Education has cut a deal with the troubled parent company of three for-profit colleges with campuses across the Bay Area to keep its schools open while requiring the sale of some and the eventual closure of others.
Corinthian Colleges, which owns Heald, Everest and WyoTech colleges, will immediately receive $16 million in federal funds that will enable its schools to keep operating. It was not immediately clear Monday which campuses would be sold and which would be eventually closed in a process called a "teach-out" where ongoing programs would be allowed to conclude but not enroll new students.
Education department and Corinthian officials signed the deal Sunday after several days of negotiations. It is to be completed by July 1. Corinthian schools have 27,000 students in California and 70,000 nationwide.
The department will monitor the schools "to ensure that students are able to finish their education without interruption and that employees experience minimal disruption to their lives," said U.S. Under Secretary of Education Ted Mitchell in a statement issued Monday.
Read more: http://www.mercurynews.com/education/ci_26016700/corinthian-colleges-will-remain-open-under-agreement-feds
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Education?? Not for everybody. 
--imm
--imm
They shouldn't have sold out to this "rich Corinthian Colleges" outfit.
