Corinthian to sell its Bay Area Heald and WyoTech campuses (for-profit colleges)
Source: San Jose Mercury News
Embattled career college giant Corinthian Colleges plans to sell six of its campuses in the greater Bay Area and close three others.
All three of the Bay Area's Everest College campuses -- in Hayward, San Jose and San Francisco -- will close, according to a list of sale schools included in a Monday Securities and Exchange Commission filing.
The company will put Fremont's WyoTech on the market, along with all of its Heald College campuses.
An agreement reached late Thursday with the U.S. Department of Education requires Corinthian to make arrangements for students in closing schools to complete their educations elsewhere, a process known as a "teach-out." Students at closed schools who don't complete their programs can apply for a full discharge of their federal loans.
Read more: http://www.mercurynews.com/education/ci_26102606/corinthian-close
Cheesy TV ads for these for-profit diploma mills. you may recognize these from daytime TV.
And of course the classic Heald College ad:
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...(T)he company had not complied with repeated requests for information...(by the Education Department) as part of an investigation...
Corinthian plans to sell 85 of its 97 U.S. schools. The remaining 12 will be closed.
Sell them to whom -- a subsidiary of itself, or to another tribe of federal education grant money-grubbers?
rocktivity
