“Corinthian lured tens of thousands of students to take out private loans to cover expensive tuition costs by advertising bogus job prospects and career services. Corinthian then used illegal debt collection tactics to strong-arm students into paying back those loans while still in school.”
“Everest Decatur [one of Corinthian’s colleges] created false placements and misrepresented Everest Decatur’s job placement rates to its accreditor in an attempt to maintain its eligibility for Title IV, HEA program funds.”
“You're talking about creating one of the 10 biggest nonprofit colleges on the fly with no educational expertise in place and doing so with an infrastructure of questionable quality. This type of transformation is unprecedented. Look at the biggest charter networks like KIPP. They started with one school and it took them years/decades to get bigger. So turning over something right away to operate at scale with such a vulnerable population and so-so educational offerings is an incredibly tough path to head down.”
"When a school like [Corinthian] that has a checkered history is on the mat, throw in the towel. It's over."