Cracking Down On For Profit Colleges

April 28, 2015

Abrupt Closing of Corinthian Campuses Leaves 16,000 Students Scrambling

http://chronicle.com/article/Abrupt-Closing-of-Corinthian/229717/

According to Blumenstyk and Fabris, 28 college campus owned by Corinthian Colleges Inc. was announcement that four of its schools — Everest College, Everest Institute, Heald College, and WyoTech would close their doors. This decision has affected 16,000 students, a majority of individuals who reside in California. Before the closure, Corinthian tried to find an interested buyer for their schools. However, one of the reasons why this company could not sale was due to the fact that “the California attorney general’s office refused to relieve the prospective buyers of liability stemming from the agency’s pending lawsuit." A lawsuit that was files for their misconduct of falsify information.

The closer affected 16,000 students who now find themselves left without a school and left with loan debt that may or may not fall on tax payers’ payment. However, it is stated that the main reason why Corinthian Colleges Inc. were audit was due to their false promises of job placements and opportunities to their graduating students. In other words, their students were promised with a job in their training profession as long as they completed their college program.

What I am thinking is what took so long for the U.S. Department of Education and California Attorney General to crack down on these schools. These colleges were charging an enormous amount of money to their students for a false American Dream fantasy. I feel bad for these individuals as I am assuming many of them are probably low-income and who probably approached these schools with the open mind set of wanting a better life and living outcome.