Education Department and for-profit college company agree to a phasing out plan, with 85 U.S. campuses on the block and a dozen to close.
For-Profit Higher Ed
ITT's missed deadline with the Education Department prompts comparisons to Corinthian Colleges. But ITT is on firmer ground.
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.
Trotting out students as victims of for-profit institutions is often an attack by false and partial anecdotes, writes Wade Dyke.
The Education Department improvised in helping to shut down Corinthian Colleges, raising questions about a similar approach with other large for-profits.
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.
Corinthian Colleges Inc. teeters on the brink as the Education Department delays payments, raising worries about what will happen to the for-profit's 72,000 students.
As public comment period ends for the administration's "gainful employment" proposal, for-profit colleges and supporters blast the rules as an overreach; critics of the industry say proposal doesn't go far enough.
Gainful employment will leave fewer options for underserved students, finds a study the for-profit industry commissioned. It also gives hints about a possible legal challenge.
Proprietary institutions need to shun short-run investor thinking in favor of long-term thinking with students and social purpose in mind, Jorge Klor de Alva argues.
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