Earlier this summer Corinthian Colleges proved to be in it for the long haul when, despite striking a deal with the Dept. of Education to either sell off or close most of its schools, it continued to pepper television airways with ads and badger attendees at college fairs in order to entice students to enroll. Now the company is showing that those questionable marketing skills aren’t just for students, but also to hook potential educators and support staff.
If you’re “looking for an exciting opportunity with a robust company committed to changing students’ lives,” then you probably shouldn’t apply to work at Corinthian. Actually, you should run away as fast as you possibly can. You know, because the company’s schools likely won’t be around by year’s end. Oh, and because the job listing contains some not-exactly-honest information about the company.
There Are So Many Things Wrong With This Everest University Job Posting That We Might Cry – Consumerist
Showing posts with label U.S. Dept. of Education. Show all posts
Showing posts with label U.S. Dept. of Education. Show all posts
Friday, August 15, 2014
ADDENDUM::Corinthian Colleges tells investors it is facing a criminal probe - LA Times
After months of financial uncertainty and battles with regulators, Corinthian Colleges Inc. told investors Wednesday about the prospect of a criminal investigation by federal prosecutors.
The beleaguered Orange County for-profit college company said in a filing that it received a grand jury subpoena from the U.S. attorney's office in Los Angeles.
The subpoena requests a broad range of documents and records related to the company's job placement rates, graduation rates and marketing materials used to recruit students. The Santa Ana firm has previously received subpoenas and similar document requests from state attorneys general, the Securities and Exchange Commission and the federal Consumer Financial Protection Bureau, but Wednesday's announcement was the first to signal the possibility of a federal criminal inquiry.
The subpoena, issued Friday, is the latest in a string of headaches for Corinthian, which announced last month that it would sell 85 of its 107 campuses and online programs amid heightened scrutiny from the U.S. Department of Education.
Corinthian Colleges tells investors it is facing a criminal probe - LA Times
The beleaguered Orange County for-profit college company said in a filing that it received a grand jury subpoena from the U.S. attorney's office in Los Angeles.
The subpoena requests a broad range of documents and records related to the company's job placement rates, graduation rates and marketing materials used to recruit students. The Santa Ana firm has previously received subpoenas and similar document requests from state attorneys general, the Securities and Exchange Commission and the federal Consumer Financial Protection Bureau, but Wednesday's announcement was the first to signal the possibility of a federal criminal inquiry.
The subpoena, issued Friday, is the latest in a string of headaches for Corinthian, which announced last month that it would sell 85 of its 107 campuses and online programs amid heightened scrutiny from the U.S. Department of Education.
Corinthian Colleges tells investors it is facing a criminal probe - LA Times
ADDENDUM::Comcast Makes Money Off Everest University Ads, Even As Schools Are Being Sold Or Closed – Consumerist
Corinthians just doesn't know when to give it up. One of three articles concerning them,,,
Earlier this summer, facing lawsuits and investigations from multiple state and federal agencies, Corinthian Colleges Inc. struck a deal with the U.S. Dept. of Education to either sell off or wind-down most its schools, including Everest University, WyoTech, and Heald College. Yet Corinthian continues to plague the airways with ads, enticing potential students into enrolling in schools that may not exist in a few months. And guess who is making money off the ads? The folks at Comcast.
Ads for CCI schools have been airing on syndicated daytime TV for quite some time, but we’d expected them to cool off, (if not vanish completely) following the deal with the DOE. The deal stipulates that the $35 million in federal aid released to the schools only be used for “approved education activities.”
Advertising for schools that will no longer exist doesn’t seem like it would fall under that heading, so we recorded some daytime TV programming to see if the ads were still running.
[,,,]
Reps for NBC’s distribution division declined to comment on this story or on why the company continues to run ads from a company that is under scrutiny from regulators and prosecutors around the country.
And while these may only represent about 1-in-20 ads on each of the shows that air them, it’s still revenue — money that likely came from taxpayer-funded federal aid — going into the pockets of Comcast so that a school facing allegations of grade-manipulation and bogus job-placement stats can continue to lure in new students.
[,,,]
Interestingly, no one from the Dept. of Education, nor any of the federal lawmakers who have called for Everest to cease enrolling students altogether, have been willing to go on the record about whether or not these ads violate the operating agreement between CCI and the feds.
However, a government source tells Consumerist that while the DOE does not have the legal authority to cease advertising, the operating agreement does require that CCI immediately halt enrollment at schools that are entering teach-out programs.
Comcast Makes Money Off Everest University Ads, Even As Schools Are Being Sold Or Closed – Consumerist
Earlier this summer, facing lawsuits and investigations from multiple state and federal agencies, Corinthian Colleges Inc. struck a deal with the U.S. Dept. of Education to either sell off or wind-down most its schools, including Everest University, WyoTech, and Heald College. Yet Corinthian continues to plague the airways with ads, enticing potential students into enrolling in schools that may not exist in a few months. And guess who is making money off the ads? The folks at Comcast.
Ads for CCI schools have been airing on syndicated daytime TV for quite some time, but we’d expected them to cool off, (if not vanish completely) following the deal with the DOE. The deal stipulates that the $35 million in federal aid released to the schools only be used for “approved education activities.”
Advertising for schools that will no longer exist doesn’t seem like it would fall under that heading, so we recorded some daytime TV programming to see if the ads were still running.
[,,,]
Reps for NBC’s distribution division declined to comment on this story or on why the company continues to run ads from a company that is under scrutiny from regulators and prosecutors around the country.
And while these may only represent about 1-in-20 ads on each of the shows that air them, it’s still revenue — money that likely came from taxpayer-funded federal aid — going into the pockets of Comcast so that a school facing allegations of grade-manipulation and bogus job-placement stats can continue to lure in new students.
[,,,]
Interestingly, no one from the Dept. of Education, nor any of the federal lawmakers who have called for Everest to cease enrolling students altogether, have been willing to go on the record about whether or not these ads violate the operating agreement between CCI and the feds.
However, a government source tells Consumerist that while the DOE does not have the legal authority to cease advertising, the operating agreement does require that CCI immediately halt enrollment at schools that are entering teach-out programs.
Comcast Makes Money Off Everest University Ads, Even As Schools Are Being Sold Or Closed – Consumerist
Tuesday, July 8, 2014
Corinthian Colleges To Sell Off 85 Campuses; Close 12 Others – Consumerist
While most of us spent the July 4th weekend relaxing and trying to not think about work or school, the folks at faltering for-profit education company Corinthian Colleges — operators of Everest University, WyoTech, and Heald College — were busy slapping For Sale signs on almost all of their campuses around the country.
Okay, so maybe no one from CCI was actually placing those campuses on Craigslist, but the company did reach a deal with the Dept. of Education that will result in the sale of 85 schools and the closure of 12 others during the next six months.
Corinthian, which had been receiving around $1.4 billion a year in funding via federal student loans, is currently being sued or under investigation by numerous state and federal authorities for its recruitment and marketing practices.
When CCI failed to turn over documents related to these investigations, the U.S. Dept. of Education put a hold on its access to loan funds, effectively ringing the death knell for the company.
In late June, CCI and Education announced they had reached a tentative agreement to wind down the company’s operations through the sale of campuses and teach-out programs at campuses that were not sold.
Corinthian Colleges To Sell Off 85 Campuses; Close 12 Others – Consumerist
Okay, so maybe no one from CCI was actually placing those campuses on Craigslist, but the company did reach a deal with the Dept. of Education that will result in the sale of 85 schools and the closure of 12 others during the next six months.
Corinthian, which had been receiving around $1.4 billion a year in funding via federal student loans, is currently being sued or under investigation by numerous state and federal authorities for its recruitment and marketing practices.
When CCI failed to turn over documents related to these investigations, the U.S. Dept. of Education put a hold on its access to loan funds, effectively ringing the death knell for the company.
In late June, CCI and Education announced they had reached a tentative agreement to wind down the company’s operations through the sale of campuses and teach-out programs at campuses that were not sold.
Corinthian Colleges To Sell Off 85 Campuses; Close 12 Others – Consumerist
The Government Has 1.2 Billion Reasons To Keep Corinthian Colleges Afloat – Consumerist
For the last week, we’ve been telling you about the ongoing negotiations between the U.S. Dept. of Education and Corinthian Colleges, the operators of the for-profit Everest University, WyoTech, and Heald College chains, that would sell off some of the schools and wind-down the others. Some people have asked why the government doesn’t just let Corinthian collapse. Part of the reason is that it would leave some 72,000 students in the lurch, but a big motivating factor is that the government could end waving bye-bye to more than $1 billion in student loan debt.
What a lot people don’t know — because it doesn’t happen very often — is that one of the few ways the government will discharge 100% of someone’s student loan debt is if their school completely shuts down and the student doesn’t continue her education elsewhere.
And it’s not just currently enrolled students that could get out of their loan obligation. If you withdraw from a school and it closes within 120 days, you may also qualify for a discharge. Additionally, those who are on an official leave of absence from the school when it closes may have a way out of their federal student loans.
Note that we’re only talking about federal Direct Loans, Federal Family Education Loan (FFEL) Program loans (which include Stafford and PLUS loans), or Perkins Loans.
Corinthian students take out some $1.2 billion a year in these federal loans. It’s impossible to predict how many of the current students would choose to continue their education elsewhere and how many would opt just to say “Thanks for the discharge” and move on with their lives without finishing school.
Even those students who want to continue on elsewhere could face some bureaucratic hurdles if Corinthian simply ceases to operate.
“The school’s failure would unnecessarily harm students because they would have no access to academic records, assistance with transition or transfer, or any other services that a school in teach-out can provide,” the company wrote in a recent court filing.
The Government Has 1.2 Billion Reasons To Keep Corinthian Colleges Afloat – Consumerist
What a lot people don’t know — because it doesn’t happen very often — is that one of the few ways the government will discharge 100% of someone’s student loan debt is if their school completely shuts down and the student doesn’t continue her education elsewhere.
And it’s not just currently enrolled students that could get out of their loan obligation. If you withdraw from a school and it closes within 120 days, you may also qualify for a discharge. Additionally, those who are on an official leave of absence from the school when it closes may have a way out of their federal student loans.
Note that we’re only talking about federal Direct Loans, Federal Family Education Loan (FFEL) Program loans (which include Stafford and PLUS loans), or Perkins Loans.
Corinthian students take out some $1.2 billion a year in these federal loans. It’s impossible to predict how many of the current students would choose to continue their education elsewhere and how many would opt just to say “Thanks for the discharge” and move on with their lives without finishing school.
Even those students who want to continue on elsewhere could face some bureaucratic hurdles if Corinthian simply ceases to operate.
“The school’s failure would unnecessarily harm students because they would have no access to academic records, assistance with transition or transfer, or any other services that a school in teach-out can provide,” the company wrote in a recent court filing.
The Government Has 1.2 Billion Reasons To Keep Corinthian Colleges Afloat – Consumerist
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