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For-Profit Corinthian Colleges to Sell 85 Schools, Close 12 Others

Corinthian Colleges Inc., the troubled for-profit college corporation, announced it will sell off the vast majority of its campuses over the next six months amid heightened scrutiny from the federal government.

As part of an agreement late Thursday with the U.S. Department of Education, Santa Ana-based Corinthian will sell 85 of its campuses and wind down operations at 12 others. The company operates in 25 states under the names Everest College, Heald College and Wyotech.

Corinthian will announce the specific schools to be sold on Monday.