Today, the U.S. Department of Education took additional steps to ensure Corinthian Colleges’ students and the American taxpayer are protected by announcing that Skadden, Arps, Slate, Meagher & Flom LLP & Affiliates, under the leadership of former U.S. Attorney Patrick Fitzgerald, has been selected to take on the role of monitoring various aspects of the career college company.
The U.S. Department of Education and Corinthian Colleges Inc. have agreed to an operating plan that provides students at the company’s career colleges a chance to complete their education and protects taxpayers’ investment while Corinthian works to either sell or close its campuses across the country in the next six months.
U.S. Department of Education signs plan to protect students by avoiding immediate closure of Corinthian Colleges
The U.S. Department of Education is working with Corinthian Colleges Inc. on a plan to avoid an immediate closure of the career training program chain and prevent suddenly disrupting the education of 72,000 students and the jobs of 12,000 employees.
The U.S. Department of Education’s Federal Student Aid (FSA) office has placed Corinthian Colleges Inc. on an increased level of financial oversight after the company failed to address concerns about its practices, including falsifying job placement data used in marketing claims to prospective students and allegations of altered grades and attendance.