More Time for Corinthian - Inside Higher Ed

The U.S. Department of Education apparently has revised its July 1 deadline to reach an agreement with Corinthian Colleges on a plan to sell or close the for-profit chain's 107 campuses and online programs. "Corinthian is expected to submit details of the plan to the U.S. Department of Education," the statement now says, "and we will update this announcement with the details of the plan in the near future." The new ambiguity about Corinthian's fate is certain to draw criticism from consumer advocates, California's attorney general and a dozen Democratic U.S. senators, who have called for a halt to the company's recruitment and enrollment of new students. The department, however, has said it is seeking to minimize disruption to Corinthian's 72,000 students. The for-profit said it would struggle to find buyers if new enrollments are suspended. In addition, the federal government could lose as much as $1.2 billion on students' discharged loans if Corinthian shuts down. http://www.insidehighered.com/quicktakes/2014/07/01/more-time-corinthian#sthash.s0m2HPzB.dpbs