Last year, the Department of Education revoked federal recognition for the accrediting body that ignored red flags at failed for-profit educator Corinthian Colleges and allowed billions in federal aid dollars to schools under investigation. Now, Accrediting Council for Independent Colleges and Schools is back, asking new Education Secretary Betsy DeVos for another chance. [More]
corinthian colleges
$183M Settlement Means 41,000 Former Corinthian Students Will Get Private Loan Forgiven
By 8.17.17
Nearly 41,000 former students of now-defunct for-profit educator Corinthian Colleges will soon receive refunds for the private student loans they received to attend college, after a coalition of state attorneys general and federal agencies reached a $183.3 million settlement with Aequitas Capital Management, the issuer of these loans. [More]
Everest College Changes Name To Altierus Two Years After Turning Nonprofit
By 7.20.17
More than two years after Education Credit Management Corporation swooped in to purchase 56 Everest and WyoTech campuses previously owned by defunct for-profit college chain Corinthian Colleges, the company has finally changed the remaining schools’ names in a belated attempt to shed the stigma associated with the for-profit chains. [More]
For-Profit Colleges Sue To Stop Rule That Protects Students Of Failed Schools
By 5.25.17
Federal regulations that aim to protect and refund student loan borrowers defrauded by their schools could end before they even go into place, thanks to a lawsuit filed by the for-profit college industry. [More]
Lawmakers Ask Education Secretary DeVos To Explain Delayed Loan Forgiveness For ITT, Corinthian Students
By 5.18.17 — Updated: 5.25.17
Thousands of former students at bankrupt for-profit schools run by ITT, Corinthian Colleges, and others are still on the hook for millions of dollars in student loans, even though the Department of Education approved their claims for a refund. Now, lawmakers want Education Secretary Betsy DeVos to explain why. [More]
Not Too Late To Get Federal Loan Forgiveness, States Remind Corinthian Students
By 4.13.17 — Updated: 5.10.17
Earlier this week, Education Secretary Betsy DeVos rescinded relatively new federal guidelines intended to make the student loan repayment process more accurate and transparent. With the possibility that other federal student loan protections could face the same fate, the Attorneys General from dozens of states are reminding former students of defunct for-profit college chain Corinthian Colleges to apply for federal student loan discharges. [More]
Feds Will Forgive $30M In Federal Loans For Students Of Defunct American Career Institute
By 1.13.17
Under the “Borrower Defense” program, a student’s federal education loans can be forgiven if they can prove their college used deceptive practices to convince them to enroll. The Department of Education confirmed today that this program will be used to forgive $30 million in federal student loans for thousands of former students from the defunct American Career Institute. [More]
More Than A Year After Corinthian Collapse, Students Still Waiting For Financial Aid Help
By 9.30.16
Eighteen months after Corinthian Colleges Inc. completed its collapse – closing the remaining Heald College, Wyotech, and Everest University – tens of thousands of former students are still waiting to received some form of relief from the mountains of student loan debt they incurred to attend the defunct college. [More]
New Owner Of 56 Former Corinthian Colleges Schools Kept Administrators, Teachers
By 9.13.16
As part of its agreement to purchase more than 56 campuses from failed for-profit education giant Corinthian Colleges, Education Credit Management Corporation agreed to transition the Everest University and WyoTech schools to non-profit status, and generally avoid any of the shady business practices — inflated job placement rates, pushing students into high cost loans — that the former owner was accused of engaging in. Yet, a new report airing on PBS’ Frontline tonight suggests that while the company has worked to turn the schools around, some things — namely personnel — have not changed. [More]
Should Agency That Provided Accreditation To Corinthian Colleges Be Held Accountable In School’s Failure?
By 6.2.16
Up until the day it collapsed in 2015, for-profit education chain Corinthian Colleges Inc. was accredited by Accrediting Council for Independent Colleges and Schools (ACICS), one of the nation’s largest federally recognized accrediting bodies. With taxpayers potentially on the hook for hundreds of millions of dollars in forgiven student loans, the California Attorney General is calling on the Department of Education to revoke federal recognition of ACICS. [More]
20,000 For-Profit College Students Ask Education Dept. To Cancel Their Student Loans
By 5.27.16
As the fallout continues from the collapse of Corinthian Colleges Inc. — former operator of Everest University, WyoTech, and Heald College — the Department of Education is trying to sort through nearly 20,000 loan-forgiveness requests from former students who claim that CCI and other for-profit colleges misled them into taking out huge student loans. [More]
Former Corinthian College Students To Have Easier Time Getting Student Loan Discharges
By 3.25.16
For nearly a year, advocates and lawmakers have shared their dissatisfaction with the Department of Education’s pace and complicated process on discharging the student loan debt for students of now-defunct for-profit chain Corinthian Colleges. Today, the Department is expected to clear a path for debt relief for these students after determining that state investigations into the schools found enough proof that the company widely misled students about their futures if they attended the schools. [More]
Failed For-Profit College Operator Ordered To Pay $1.1 Billion For Predatory Practices
By 3.24.16
Corinthian Colleges Inc. — which formerly ran for-profit education chains like Everest University, Heald College, and WyoTech — may have collapsed and had its remnants sold off, but the lawsuits against the failed company continue to loom. This week, a California judge ordered the defunct company to fork over $1.1 billion to the state for lying to students, investors, and regulators. [More]
Corinthian Colleges Allegedly Recruited Homeless Students, Advertised Non-Existent Programs
By 3.18.16
Just when you think the accusations levied against now-defunct for-profit college chain Corinthian Colleges couldn’t get worse — inflating job placement rates, grade manipulation, and questionable marketing practices — they do. The California Attorney General’s office filed thousands of pages of documents and testimony as part of its ongoing lawsuit against the school highlighting an even more egregious practice: allegedly recruiting homeless students and assisting them in taking out thousands of dollars in loans they could never repay. [More]
Law Firm In Charge Of Corinthian Colleges Turnaround Fired By Dept. Of Education
By 3.15.16
When Education Credit Management Corporation completed the purchase of 56 Everest University and WyoTech campuses from now-defunct for-profit education chain Corinthian Colleges, it agreed to hire an independent monitor to oversee the turnaround of the schools. Things apparently aren’t going so well, as the Department of Education announced it has fired the law firm hired for the task. [More]
Advocates: Schools Using Forced Arbitration Shouldn’t Receive Federal Aid
By 3.4.16
For-profit colleges that require students to sign away their legal rights, forcing them into arbitration in order to enroll in classes should not receive federal financial aid, a coalition of 47 consumer advocacy groups urged acting Secretary of Education John King on Friday. [More]
New Student Aid Enforcement Unit Created To Address Alleged Fraud At For-Profit Colleges
By 2.9.16
With thousands of former Corinthian Colleges students waiting to find out if their federal student loan debts will be discharged because the now-defunct for-profit college allegedly deceived them with false promises related to their future careers, the Department of Education announced the creation of a special enforcement unit with the goal of being able to respond quickly to allegations that colleges are violating the law. [More]
Corinthian College’s Misleading Job-Placement Info Could Result In Faster Debt Relief For Students
By 11.17.15
Thousands of students affected by the abrupt closure of for-profit college educator Corinthian Colleges’ Wyotech, Heald College and Everest University campuses could soon have more options when it comes to receiving debt relief after a joint investigation by the California Attorney General’s office and the Department of Education found additional evidence that the schools misrepresented job placement rates for several programs in order to enroll students. [More]
