Everest was one of the worst for profit schools I dealt with when I was living in Kansas, the phone calls were endless. Although I am glad they are shutting down there are going to be some pissed of students when they find out all their hard work was for nothing in regards to transfer of class credit.
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Corinthian Colleges, the company that operates for-profit education chains like WyoTech, Everest, Heald Colleges, and others has been the subject of both state and federal investigations that have kept it from opening up any new campuses. Today, Corinthian announced it’s working on a deal with the U.S. Dept. of Education that would keep its schools operating while it sells off a number of campuses and phases out others.
There are between 70,000 and 80,000 students enrolled at the various Corinthian schools around the country. Additionally, the company employs approximately 12,000 people. Rather than have the business collapse and leave all these students without classes and thousands of people jobless, Corinthian and the Dept. of Ed. folks have agreed that the company must develop a plan to sell some of its campuses and phase out programs over the next six months.
A federally approved independent monitor will oversee the company’s finances and the sales of the relevant properties.
If Corinthian comes up with this plan and agrees to the government’s terms, the Dept. of Ed. will release $16 million worth of federal student aid to students currently enrolled at Corinthian campuses… provided the school proves that all the people getting aid are actually enrolled at a Corinthian program.
For-Profit Corinthian Colleges To Sell Off Campuses, Phase Out Programs – Consumerist
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