Corinthian Colleges To Sell And Close Campuses Under New Plan
The U.S. Department of Education has announced that Corinthian Colleges Inc. has agreed to an operating plan which will ease the process of closing down its campuses.
In early June, Corinthian Colleges was placed under “increased financial oversight” by the Department of Education since Corinthian had failed to submit required data about enrollment and job placement. Concerns were also brought up about Corinthian’s marketing practices to prospective students.
Programs owned by Corinthian include Everest, Wyotech, and Heald campuses. Corinthian enrolls about 72,000 students nationwide.
As Corinthian closes or sells its campuses under the new operating plan, some students may be allowed to complete their programs if possible. Schools that are still open will halt their enrollment. Corinthian is also required to hire an independent monitor approved by the Department of Education to oversee finances and review teach-out plans and sales of schools.