Corinthian Colleges Looks to Close or Sell Schools Due to Lack of Revenue

 

Corinthian Colleges, a for-profit college with 72,000 current students, looks to close down operations and sell almost 100 schools in the United States and Canada. The college relies heavily on government funds—$1.4 billion last year—and faces a loss of that source due to reports that the college lied to students and investors about job placement rates for graduates. The college also faces difficulty in finding buyers due to a decrease in college enrollment in the for-profit college sector. Corinthian College reported a net loss of $94 million and a cash cushion that “shrank from $46.6 million to $28 million.”

For the full article, see the New York Times.

Kattie Lam

Kattie Lam

Kattie is a Teach for America alumna who is motivated by technology's potential to empower teachers and their classrooms. After teaching middle school science, she now helps teachers bring technology into the classroom through Gradeable and Listen Edition.