Heald colleges in Salida, Rancho Cordova, Roseville and colleges affiliated with the parent company Corinthian Colleges (Everest and Wyotech schools) all across California, Hawaii, Oregon, Arizona and New York (28 ground campuses) has closed down affecting over 16,000 students.
The US Department of Education decided to shut down the for-profit college for misrepresentation, fraud and falsifying documents.
California Attorney General Kamala Harris has sued Corinthian Colleges, Inc. for targeting those that are”isolated,” “impatient,” individuals with “low self-esteem,” who have “few people in their lives who care about them” and who are ‘stuck’ and “unable to see and plan well for future.” This was evident when the school aggressively advertised online and on hit (yet entertaining) daytime shows such as Jerry Springer and the “You are NOT…the Father” Maury Povich show.
This is sad as most students will be left with an enormous amount of student debt. Many say that the loans will be forgiven but I highly doubt it. This is because it will cost the federal government billions of dollars and potentially open up a cascade of other students, who went to for-profit colleges, to seek similar debt forgiveness.