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SANTA ANA, Calif. (AP) --
Corinthian Colleges will shut down all of its remaining 28 ground
campuses, displacing about 16,000 students, less than two weeks after
the U.S. Department of Education announced it was fining the for-profit
institution $30 million for misrepresentation.
In a statement
Sunday, the Santa Ana, California-based company said it was working
with other schools to help students continue their education. The
closures include Heald College campuses in California, Hawaii and
Oregon, as well as Everest and WyoTech schools in California, Arizona
and New York.
Corinthian was one of the country's largest
for-profit educational institutions. It collapsed last summer amid a
cash shortage and fraud allegations.The Education Department contends that Corinthian failed to comply with requests to address allegations of falsifying job placement data and altering grades and attendance records. It agreed to sell or close its campuses under pressure from the department.
Earlier
in April, the department fined subsidiary Heald College, alleging the
school had shown a pattern of falsifying post-graduation employment
data. In one instance, the company's Honolulu campus declared a student
had found work in her chosen field of accounting, even though
administrators knew she was working at Taco Bell, the department said.
Most
of the company's former schools have been sold, and Corinthian
attempted to sell Heald as well but was blocked by California attorney
general Kamala Harris' refusal to provide prospective buyers with a
release from liability.
The company said Sunday it
had been in "advanced negotiations" with several parties to sell the
150-year-old college and allow outside partners to let Everest and
WyoTech students continue their education but was unsuccessful.
"Unfortunately,
the current regulatory environment would not allow us to complete a
transaction with several interested parties that would have allowed for a
seamless transition for our students," Corinthian CEO Jack Massimino
said in a statement.
The
company also defended its work, saying its graduation and job placement
rates "compared favorably with community colleges" and that many of its
students hadn't been able to get their needs met at a traditional higher
education institution.
"Neither
our board of directors, our management, our faculty, nor our students
believe these schools deserved to be forced to close," Massimino said.
A
group of current and former Corinthian students are petitioning the
Education Department to waive their federal student debt based on the
alleged misconduct. According to the company's filings, the schools
generated $1.2 billion government loans its final year.
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