Corinthian Closing Its Last Schools; 10,000 California Students Displaced
After years of government investigations, Corinthian Colleges Inc. will shut down more than two dozen of its remaining schools, displacing more than 10,000 California students. The move ends the turmoil at what was once one of the nation’s largest for-profit college chains but presents fresh challenges to students, who now must seek transfers or federal loan forgiveness.
The loans were both the lifeblood and the downfall of the troubled Orange County company. Easy access to student debt fueled high tuition and big profits — until the federal government cut off the tap last year, as investigators accused Corinthian of falsifying job placement rates.