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]
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Lawmakers Ask Education Secretary DeVos To Explain Delayed Loan Forgiveness For ITT, Corinthian Students
By 5.18.17 — Updated: 5.25.17
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]
Nine States Expand Probe Into On-Call Scheduling, 15 More Retailers In The Hot Seat
By 4.13.16
With the help of seven other states and the District of Columbia, New York is expanding the probe into on-call scheduling in the retail world, sending letters to 15 more retailers asking them about their use of the practice. [More]
Mass. AG, Lawmakers Call For More Assistance For Former Corinthian College Students
By 9.2.15
Ever since for-profit education chain Corinthian Colleges Inc. closed its Everest University, WyoTech and Heald College campuses, leaving tens of thousands of students with millions of dollars in loans, consumers advocates, legislators and others have urged the Department of Education to relieve former students of their debt burdens. Those calls for help continued on Tuesday with renewed pressure from Massachusetts Attorney General Marua Healey and Sen. Elizabeth Warren calling on the Dept. to rid victims of the defunct for-profit college of unsustainable loan payments. [More]
Agreement Could Temporarily Halt Legal Action On Loans For Some Former Corinthian College Students
By 7.14.15
Former Corinthian College students left with piles of debt after the company closed its Heald College, Everest University and WyoTech campuses earlier this year are getting a bit more relief, as the Department of Education announced it would temporarily suspend some legal actions related to borrower’s defaulted loans. [More]
Attorneys General Coalition Urges Dept. Of Education To Clarify Corinthian Students’ Options
By 5.13.15
A week after nine senators urged the Department of Education to provide support to the thousands of students affected by the closure of now-bankrupt Corinthian Colleges schools — Everest University, Heald College, and WyoTech — the top prosecutors in 11 states are adding their voices to the chorus encouraging the Dept. to protect students and clarity their options following the company’s final downfall. [More]
Senators Urge Dept. Of Education To Provide Support To Students Affected By Corinthian Colleges Closure
By 5.8.15
Ever since now-bankrupt Corinthian Colleges Inc. began its downward spiral, consumer advocates, students and legislators have urged the powers that be to provide relief for students of Everest University, Heald College and WyoTech. Today, that plea continued as nine senators called on the Department of Education to provide support to the 16,000 students affected by the company’s final closure. [More]
Senators Call For Attorney General Investigation Into Executives Of Corinthian Colleges
By 5.6.15
Bankrupt for-profit college chain Corinthian Colleges Inc. is already party to a number of state and federal investigations related to the alleged deceptive recruiting practices at its Heald College, WyoTech and Everest University campuses. Now, a group of senators are hoping to add another investigation to the roster. [More]
Corinthian Colleges Completes Collapse, Closes Remaining Campuses Effective Immediately
By 4.26.15
Although it was nearly a year in the making, the largest collapse in U.S. higher education finally occurred Sunday, as embattled for-profit education chain Corinthian Colleges Inc. – the operator of Everest University, Heald College and WyoTech – announced it would close the remainder of its campuses effective Monday. [More]
California Orders Corinthian Colleges To Stop Enrollment At WyoTech, Everest Campuses
By 4.22.15
The collapse of for-profit education chain Corinthian Colleges – operator of Everest University, Heald College and WyoTech – continued today after a California regulator issued an order requiring the company to cease enrolling new students at its Everest and WyoTech campuses in the state. [More]
Corinthian Colleges Fined $30M Over Falsified Job Placement Rates At Heald College
By 4.15.15
The Department of Education continued its crackdown on deceptive for-profit college practices Tuesday by levying a $30 million fine against embattled Corinthian Colleges Inc. – operator of Everest University, Heald College and WyoTech – over the use of misstated and inaccurate job placement rates to recruit students. [More]
Report: Taking For-Profit Colleges Nonprofit Can Generate Hefty Profits For Owners
By 3.3.15
Earlier this year Education Credit Management Corporation bought 56 campuses from embattled for-profit chain Corinthian Colleges Inc. and took the schools to the nonprofit sector. While that conversion was initiated because of the ongoing collapse and financial problems facing CCI, other college chains have dropped the for-profit status seemingly to pick up hefty profits. [More]
Senators Chastise Govt. For Making Money Off Struggling Student Loan Borrowers, Not Offering Enough Relief
By 2.27.15
For several years now the government has offered federal student loan forgiveness programs aimed at helping borrowers to avoid defaulting on their debts. While recent reports have shown that the popularity of the programs has exceeded expectations, a group of six senators say the Department of Education could do more given the billions of dollars in payments it receives from federal loans each year. [More]
Corinthian College’s Canadian Subsidiary Files For Bankruptcy A Week After Campuses Shut Down
By 2.24.15
Less than a week after the Ontario Education Ministry closed 14 Everest College campuses in the province, the Canadian subsidiary of for-profit college operator Corinthian Colleges Inc. announced it had filed for bankruptcy. [More]
Current, Former Corinthian College Students Go On “Debt Strike,” Refuse To Pay Private & Federal Loans
By 2.24.15
With for-profit educator Corinthian Colleges Inc. selling off campuses and closing schools, thousands of Everest, WyoTech, and Heald College students are waiting to learn the fate of the more than $1 billion in private and federal student loan debt used to finance their education. While the Department of Education and the Consumer Financial Protection Bureau have worked to secure deals in which some of that debt will be forgiven, some students are increasing the pressure on such deals by staging a “debt strike.” [More]
