http://news.yahoo.com/corinthian-colleges-shut-down-28-remaining-campuses-193009147.htmlWell, After the Education Department announced that it's fining them $30M for various acts of misrepresentation, they canceled classes starting Monday and kicked 16k current students to the curb.
Some notes:
1. Their reputation was already in the sewer, so a lot of institutions won't accept transfer credits from there.
2. Only some locations and programs were regionally accredited, the rest only nationally, and even that was threatened.
3. Apparently forgiving student debt for current students would run a maximum of $214M.
4. Many locations were acquired by other institutions, reading between the lines, that means those in the 'best shape' were acquired, such as the regionally accredited locations/programs.
5. While researching their accreditation, I found
this,, a certification for a
'naturopathic' college. My thinking is that maybe they deserve to lose all other accreditation for that one.
A laugh - "Earlier in April, the department fined subsidiary Heald College, alleging the school had shown a pattern of falsifying post-graduation employment data. In one instance, the company's Honolulu campus declared a student had found work in her chosen field of accounting, even though administrators knew she was working at Taco Bell, the department said."
Not saying WHERE in Taco Bell she was working, surely a company that large employs at least SOME accountants as accountants, right? /snark.
This lady I have some sympathy for - 'Avila, who was one semester away from finishing a business management degree, said she accumulated about $20,000 in in debt.
"I did not know what I was getting myself into," she said. "It was presented as if it were the best option for a single parent like myself."'
Being just one semester away, she probably started attending before knowing their difficulties, but was stuck - transferring college is always a pain, and even if the credits transfer they might not be worth anything.
