The final nails are being hammered into the coffin of Corinthian Colleges, once one of the largest for-profit education groups in the USA. The impact of this private higher education meltdown is far and wide. Many of its remaining 16,000 students are left out in the cold, most are shouldering huge personal / education debts with bleak future. Many of Corinthian’s problems that led to its downfall are related to inappropriate management of state-funded education loans to students and over promise of job prospects[…]
Tag: for-profit colleges
Contagion effects of for-profit colleges woes?
On the day that Americans celebrated the country’s independence day, The Huffington Post reported that one of the largest for-profit college groups in the USA, Corinthian Colleges was heading for disaster. The crux of the matter was due to Corinthian’s over reliant on federal government-backed study loans to the bulk of its 72,000 student loan which was effectively pulled back by the authority. For 2013 Corinthian had a revenue of US$1.6 billion, US$1.4 billion of which was attributed to federal government-backed study[…]