Interviews with nearly 20 students at Everest Colleges across the country paint a picture of misleading information or half-truths being disseminated by advisors about its financial state. Half of them had never been told that their school’s campus was up for sale.
It’s all linked to the fall of Corinthian Colleges last month.
Corinthian Colleges will attempt to sell almost all of its 97 US campuses, according to an agreement reached with the Education Department late last night. Experts say the Education Department’s move to shut down Corinthian is a warning, and a possible threat, to other for-profit colleges.
Regulations proposed Friday will crack down on programs with low graduation rates and high student debt. Many of those are at for-profit schools like the University of Phoenix and Everest College, which get huge chunks of their revenue from federal dollars.