Corinthian Colleges Inc

Corinthian Colleges Inc: Still, the regulators didnt see the final implosion coming any more than the students did, according to The Guardian. Shocked, the DOE stepped in again, this time to supervise an orderly liquidation of the Corinthians college brands, the Everest, Heald and WyoTech schools. The department released $16m in student aid money to keep the schools open. In June, the department and Corinthian agreed that the company will sell off 85 campuses and slowly move to shutter the remaining dozen. The company just delivered plans on how it will close all of its schools, if needed. In the meantime, Corinthian can continue to enroll new students, so it remains attractive to prospective buyers and By the time the Department of Education temporarily shut off the flow of student aid money to Corinthian Colleges Inc, one of the largest for-profit college companies in the country, 20 state attorneys general, several federal agencies and the department itself were investigating the sprawling chain. In response to the departments move, which was supposed to be just a 21-day hold last month, Corinthian announced that it would likely fold, leaving around 72,000 students out of their time and tuition, and the American taxpayer potentially on the hook for $1bn in federally-backed loans. (news.financializer.com). As reported in the news.