After 20 years of operation, for-profit Corinthian Colleges Inc. will shut down their remaining 28 campuses, including 10 locations in California, as well as other colleges in California, Arizona, and New York under the Everest, WyoTech, and Heald college names. Corinthian Colleges was under investigation and charged with a $30 million fine by the federal government for misrepresentation of job placement data, attendance records, deceptive and aggressive marketing tactics, and altered grades.
Even though Corinthian Colleges expected the closure for months, more than 16,000 degree-seeking students received notice Sunday that the college they had been attending will be closed starting Monday. Many students received tens of thousands of dollars in student loan debt, and will now be looking to transfer their credits to another college in hopes to finish their degree or seek federal student loan forgiveness. However, because Corinthian Colleges was a private college, there is a strong chance that their credits will not be transferable.
Groups of devastated students are now protesting their federal student loans and meeting with the Consumer Financial Protection Bureau, located in Washington D.C., to help figure out a solution for all of the students affected. Many frustrated students were mere months away from graduating with a full bachelor’s degree and now face uncertainty about their educational and financial future.
At its peak, Corinthian Colleges operated 120 campuses with over 110,000 students across North America and doubled revenue to $1.75 billion from 2007 to 2011. The order of the closure comes from the U.S. Education Department, who barred access to student loans in the summer of 2014, as the Obama Administration works to crack down on frivolous for-profit colleges that promise educational and career success to people looking to better themselves and seek the American Dream.
Though this marks a potentially disastrous outcome for many students and employees of the colleges, it will be a cautionary tale for students and educational institutions alike.
If you’re planning on going to a physical college, then you’ve got to spend some time contemplating the college campuses. What do you want from them? How much do you really care about the place where you’re going to be studying?
If you’re not sure whether or not to go to a physical college or to use online college courses, then you’ve still got to ask yourself the same questions. Would you miss having an actual campus to walk around on? Would you rather not have to deal with the complications of a physical campus?
For students just getting started in their thinking about college, here are some key questions you should be asking yourself about college campuses.
Forbes just today posted a new article about the CLA+ exam, and what it could mean for accountability in higher education. You can find that article here. It’s a relatively positive take on the CLA+ and what it could do.
Here, let’s talk a bit about some of the potential issues with the CLA+ and how it could affect college education in the future.
There’s a slew of articles coming out now concerning the class of 2014 graduating from college. The articles talk about the issues they face, important facts of this class, and more. This article, in particular, paints a bleak picture of what faces these students post graduation.
Upon reading that, any number of reactions make sense. “It’s not worth going to college if I’m going to graduate with debt and unable to find a job,” goes one line of thinking. “I need to devote the entirety of my collegiate plans to making sure I’ll be able to get a good job after,” goes another.
So, what should you take away from this article? How should you look ahead to your post-graduation life? And how should it affect your college planning now, especially if you’re a junior in high school just getting started?
Inspired by this article, here are three predictions for the future of higher education that could very well influence your decision-making process.
Malcolm Gladwell is one of those writers who is always interesting to read, whether or not there are flaws with his reasoning, argumentation, or evidence. If nothing else, his books always give you something to chew over. In his most recent book, David and Goliath, he puts forward the notion that students should not necessarily go to major, prestigious universities just to take advantage of that prestige. Instead, students should go to universities where they are likely to truly and notably excel. This Business Insider article does a pretty good job of summing up Gladwell’s argument, and critiquing that argument. So what should you do when you’re making decisions between schools, both for applications and for acceptances? Where should you aim yourself?