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This For-Profit College Failed, but Its Students Are Left With the Wreckage

Last week, one of the country’s biggest career college chains completed its collapse.

Corinthian Colleges once ran 107 campuses of Everest Institute, WyoTech and Heald Colleges that served more than 100,000 students. It was a darling of Wall Street for its lucrative model of offering degrees to low-income students who borrowed heavily from the government to pay their tuition.

But allegations that the company lied about the success of its programs and trapped students in predatory loans ultimately led to its downfall. Now 16,000 students are left without degrees for programs that many took on debt to complete. Hundreds of others are fighting for the government to forgive debt they are struggling to repay.