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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.
For-profits are under fire, and a few have made the jump to become nonprofits. But the process is tricky and offers a mixed bag on regulatory benefits.
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.
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 the clock ticks down on City College of San Francisco, powerful politicians weigh in and threaten to shut down an accrediting commission.
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.
Sen. Harkin joins consumer groups in call for stronger gainful employment rules, and the retiring senator points to other Democrats who will continue the fight.
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