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Groups Oppose Corinthian Sale to ECMC

December 18, 2014
 
 

A coalition of 46 student, consumer, veterans and civil rights groups on Wednesday wrote to the Obama Administration and U.S. Department of Education to oppose the proposed sale of 56 Corinthian Colleges' campuses to ECMC, a nonprofit student loan guarantee agency.

"The terms of the proposed sale to ECMC would not give students the choice of completing or a fresh start, while leaving the campuses in the hands of a troubled entity with no educational experience," the groups wrote. They called on the department to exercise more flexibility in allowing Corinthian students to seek loan discharges. The letter also suggests stricter terms for an ECMC deal, such as requiring that the campuses meet "gainful employment" regulations for seven years.

The sale, which department officials back, is expected to close in January.

 

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