2014 news archives

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Washington Post: Why the Obama Administration is Letting a Debt Collector Run Failing For-Profit Schools

December 23, 2014

“The fall of for-profit giant Corinthian College has raised questions about the future of the industry and the role the government plays in supporting these controversial schools. Clouded by allegations of deceptive marketing and lying to the government about its graduation rates,

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Inside Higher Ed: Corinthian’s Non-Profit Buyer

November 21, 2014

“The ECMC Group, a nonprofit organization that runs one of the largest student-loan guaranty agencies, announced Thursday that it will purchase 56 campuses from Corinthian Colleges, a crumbling, controversial for-profit chain. ECMC will create a nonprofit subsidiary, called the Zenith

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Wall Street Journal: Corinthian Colleges to Sell Campuses to Zenith Education

November 20, 2014

“Troubled for-profit college operator Corinthian Colleges Inc. agreed to sell the bulk of its campuses to a newly formed unit of a student loan firm for $24 million as it winds down its operations. The new nonprofit, Zenith Education Group, will buy

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Chronicle of Higher Education: Nonprofit Group to Buy 56 of Corinthian’s Campuses

November 20, 2014

"A nonprofit organization…is buying 56 Everest and WyoTech campuses from Corinthian Colleges Inc. The transaction, being announced on Thursday, will create the largest nonprofit career-college system in the country."

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U.S. Department of Education Undersecretary Ted Mitchell: A Bold New Plan To Protect Students

November 20, 2014

“Recently, the Department of Education announced our support for a deal that will strengthen the education prospects of nearly 40,000 college students on 56 Everest and WyoTech brand campuses, currently owned by the for-profit network Corinthian Colleges Inc.”

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U.S. Department of Education: Frequently Asked Questions About Corinthian Colleges

November 20, 2014

Includes helpful information for students enrolled at “teach out” schools, of which Zenith Education Group acquired 12 in its purchase of more than 50 struggling Corinthian College campuses. Click here to read the full FAQs.

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U.S. Department of Education Press Release: U.S. Department Of Education Supports Nonprofit Education Group’s Intent to Purchase a Majority of Corinthian College Campuses

November 20, 2014

“The U.S. Department of Education announced its support today of an agreement between ECMC Group and Corinthian Colleges Inc. for ECMC Group’s newly formed nonprofit education entity, Zenith Education Group, to acquire 56 Everest and WyoTech campuses for transition to

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ECMC Group Press Release: ECMC Group Announces Acquisition, Plans to Take 56 Corinthian College Campuses Nonprofit

November 20, 2014

“ECMC Group today announced that it has entered into an agreement to acquire 56 Everest and WyoTech campuses from Corinthian Colleges Inc. and transition them from for-profit to nonprofit status. ECMC Group, a nonprofit corporation with a long-standing mission of

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