ECMC's Zenith Education has a contract to buy 53 Everest College and 3 WyoTech campuses from Corinthian Colleges. The new campuses will operate as non-profits. Thus, they won't be beholden to the same gainful employment rules that are planned for for-profit colleges and universities. ECMC could realize a lot of synergies here, but will students benefit as well?
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Rather than declare Corinthian Colleges, Inc. to be in default on their loan, Bank of America has formally announced that they will give the for-profit school more time to make up for their missed payments. Ironic, it seems, as a recent report says that some servicers of private student loans demand immediate and full repayment upon default of student loan debt.
In filing a lawsuit against Corinthian for violations of the Consumer Financial Protection Act and the Fair Debt Collection Practices Act, hundreds of thousands of students who were hurt by the for-profit college's practices will experience monetary relief.
"The CFPB has forcefully addressed Corinthian's harmful policies, which have left local Durham
In yesterday's earnings report, Corinthian Colleges warned investors that it has decided to hire Barclays in the hopes of finding someone who might want to buy the struggling for-profit university. Corinthian told investors that new enrollments dropped 13.1 percent and that its overall enrollment has shrunk by a similar amount. But, that is.....
Massachusetts Attorney General Martha Coakley filed a civil action against Corinthian Colleges, the corporate parent of Everest Colleges, in Suffolk County Superior Court on April 3rd. Here are a few excerpts:
Admissions are selective: Everest says "Make sure you are one of the people who gets a spot in career training."