BioHealth College Inc., which owns for-profit colleges in four cities in California, has filed for bankruptcy, The San Jose Mercury News reported. While the colleges are operating, the U.S. Education Department placed them on "heightened financial monitoring" status, which could slow the flow of federal student aid dollars to the institutions. The colleges used to be owned by Corinthian Colleges, but were sold in 2013. The BioHealth CEO did not respond to requests for comment.
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- Corinthian's failure (and U.S. role in it) fuels for-profit critics
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- Education Department reviews its monitoring of large for-profits in wake of Corinthian collapse
- ITT's federal compliance scramble differs from Corinthian's shut down
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