Inside Higher Ed chronicles several of the final chapters in the demise of Corinthian Colleges, the once-dominant for-profit school giant that has collapsed under intense federal scrutiny.
In June 2014, Corinthian announced its forthcoming closure after U.S. Department of Education officials froze access to federal financial aid for three weeks at a time when the company was facing multiple challenges, including a lawsuit by the Consumer Financial Protection Bureau.
As part of the unwinding of Corinthian negotiated with federal regulators, a group of more than 50 Everest College and Wyotech campuses were acquired by Zenith Education Group, a newly created nonprofit provider of career school training. The change in ownership affects approximately 30,000 students currently enrolled in these school previously owned by Corinthian entities.
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