By Mark Schneider and Jorge Klor de Alva
“Real cost of Obama’s war against for-profit colleges”
Until recently Corinthian Colleges Inc. was one of the largest providers of postsecondary education in the country. As recently as 2010 it enrolled around 112,000 students; even after a relentless campaign by politicians to dismantle proprietary education institutions, it enrolled 72,000 students across the country.
But several weeks ago the Department of Education, in its zeal to target proprietary colleges, imposed a 21-day hold on Corinthian College’s access to federal student aid because it “failed to address concerns about its practices.” The resulting liquidity crisis led directly to Corinthian’s decision to wind down or sell its 97 U.S. campuses, and left still-unanswered questions as to what will happen to tens of thousands of students enrolled in Corinthian’s education programs. CONTINUE READING HERE