[caption id=”attachment_122050″ align=”aligncenter” width=”1200″]Everest Institute, one of the Corinthian Colleges Inc. property (AP Photo/Jose Luis Magana)
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INSIDE HIGHER ED — After teetering on the brink of collapse for months, Corinthian Colleges announced Sunday that it will immediately shut down its 28 remaining campuses, which together enroll approximately 16,000 students.
The closures, which take effect Monday, come after the embattled for-profit college chain was unable to finalize the sale of its campuses and had also been ordered by federal andstate regulators to stop enrolling students at some locations.
Corinthian’s decision to immediately shutter its campuses may also cost taxpayers tens of millions of dollars, as the U.S. Department of Education has to forgive the federal loans of students who do not continue their studies elsewhere.
The company and federal officials said they are both working with other colleges to help the roughly 16,000 displaced students find educational offerings near their locations. In addition to directly emailing students about their options, the Education Department said it will deploy federal personnel to some of the campuses to counsel students in person.
The closures affect Corinthian campuses in five states — Arizona, California, Hawaii, New York and Oregon — that do business under the brand names Heald College, Everest and WyoTech.
Read more at Inside Higher Ed.
