Корпорация Corinthian Colleges: История банкротства и списание долгов студентам.

Former for profit post secondary education company

Corinthian Colleges, Inc. (CCi) was a for profit post secondary education company in North America. Its subsidiaries offered career oriented diploma and degree programs in health care, business, criminal justice, transportation technology and maintenance, construction trades, and information technology. A remnant of the schools was owned by ECMC under the Altierus Career College brand until the last three campuses were closed in 2022. At its peak, CCi operated over one hundred Everest, Heald and WyoTech campuses throughout the United States and Canada. The Los Angeles Times framed Corinthian Colleges as a collection of "castoff" schools that were taken over by Wall Street investors in 1999. Corinthian closed their campuses in Canada on February 19, 2015, after the Ontario government suspended their operating license. On April 26, 2015, following a series of legal challenges by state and federal agencies, Corinthian Colleges announced that they would cease operations at all remaining United States locations. The closure affected more than sixteen thousand students and employees. Having been extensively investigated for fraudulent behavior by several jurisdictions, Corinthian Colleges, Inc. and twenty four of its subsidiaries filed for Chapter 11 bankruptcy in the United States Bankruptcy Court for the District of Delaware on May 4, 2015. In June 2022, the U. S. Department of Education announced that it would cancel $5.8 billion in federal student loan debt for 560,000 students who attended Corinthian.

CCi operated Everest campuses in the United States and Canada, although all US campuses were to be sold or closed beginning on July 3, 2014, leaving only the Canadian campuses under CCi's control. Everest College offered diploma and associate degree programs. Everest University offered diploma, associate, bachelor's, and master's degree programs. On February 19, 2015, all 14 Everest campuses in Ontario, Canada were shut down. 2300 students and over 500 staff were affected by the closures. CCi has since filed for bankruptcy in Canada due to the closures.

Everest University Online (EUO), a division of Everest University, offered online degree programs. EUO was headquartered in Tampa, Florida.

Everest College Phoenix offered bachelor's degree, associate degree, and diploma programs. Everest College Phoenix had campuses in Phoenix and Mesa, Arizona, as well as an online learning center. Everest College Phoenix was regionally accredited by the Higher Learning Commission.

Heald College was one of the nation's oldest business career colleges in the Western United States, with roots extending back to 1863. Heald offered associate degree, diploma, and certificate programs. Heald College was regionally accredited by the Western Association of Schools and Colleges Senior College and University Commission. Heald College had campuses in California, Oregon, and Hawaii, as well as an online learning center. In November 2009, it was announced that CCi was purchasing Heald's parent company for $395 million. In January 2010, CCi announced that it had completed the acquisition. CCi retained the Heald name, and it was reported that it also retained its faculty and staff. As of November 2018, all the campuses except the Laramie, Wyoming campus were closed; the remaining Laramie campus came under new ownership, providing solely automotive related training.

Everest College Phoenix campuses were regionally institutionally accredited by Higher Learning Commission. Heald College campuses are regionally institutionally accredited by the Senior College and University Commission – Western Association of Schools and Colleges (WASC Senior).

Corinthian CEO Jack Massimino earned $3 million in 2010, and four other executives made over $1 million that year. Eeva Deshon, the president and CEO of Heald College initiated a petition on Change. org to collect positive testimonials about the college, despite the largely negative evaluations by students. As with the entire education sector, CCi had faced a decrease in enrollment and a corresponding depressed stock price. CCi's top mutual fund holder was Wells Fargo Advantage Small Cap Value Fund. As of June 30, 2013, CCi had approximately 15,200 employees in North America, including 6,000 full time and part time faculty members. In 2014, a librarian at the southern California campus of Everest College quit her position when she learned a student she was assisting could only read at the third grade level, may have a developmental disability, and was unlikely to find work in his chosen field. She stated that the student was unlikely to understand the financial burdens of the enrollment documents he signed. The librarian resigned out of principle after an unsuccessful attempt to resolve the issue with administration.

In 2004, a former student from Florida Metropolitan University initiated an action against CCi, claiming he was misled with respect to the school's accreditation and his ability to transfer credits. The lawsuit proceeded in arbitration pursuant to the agreement between the parties. After hearing all of the evidence, the arbitrator found in favor of CCi on all counts and dismissed the lawsuit. In April 2005, fourteen students from Bryman College's Tacoma, Washington campus filed an action against CCi in the Superior Court of the State of Washington. The students claimed they did not receive proper training for their careers in medical assisting, that they were misled about the program's accreditation status, their eligibility to take a national certification exam, the transferability of their credits, and the availability of internships. The case was moved to the United States District Court for the Western District of Washington and was ultimately dismissed. In August 2007, the State of Florida closed an investigation into Florida Metropolitan University with no fines, penalties or findings of wrongdoing. The Florida Office of the Attorney General and Florida Metropolitan University entered into an Assurance of Voluntary Compliance acknowledging that Florida Metropolitan University participates in the Florida Statewide Course Numbering System to facilitate the transfer of eligible credits to other institutions. Florida Metropolitan University agreed to continue its efforts to help students with transfer credits and to provide students with clear disclosures. CCi stated that it intends to cooperate.