Education Department defends sale of 56 Corinthian College campuses to ECMC, saying guarantee agency's purchase will help 40,000 students, many of whom are close to graduation.
The Education Department releases its long-awaited gainful employment rules, making one key change and drawing complaints from both for-profits and their critics.
Audit critical of the Education Department's review process for alternative to the credit hour raises questions about direction of federal policy and could discourage some colleges.
The messy failure of Corinthian Colleges raises questions about limitations of the Education Department's oversight of for-profit chains, and how it might tighten as other companies teeter.
In expansive interview about higher ed, the education secretary differentiates about dangers of varying degrees of student debt and suggests colleges might be rated based on whether they improve or not.
Corinthian Colleges and the feds have a day to decide how to dismantle the huge for-profit, with the fate of students, employees and $1.2 billion in loans hanging in the balance.
Corinthian Colleges and the Education Department strike a deal to keep the for-profit chain afloat long enough to sell or "teach out" its 107 campuses.
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