Stephen J. Lubben has contributed an article on the bankruptcy filing by Corinthian Colleges to the New York Times. Here are some excerpts from the article, titled “Corinthian Colleges’ Lean Business Model Leaves Little for Creditors”: “Corinthian Colleges, the for-profit education company familiar to corporate law professors for its appearance in textbooks about securities regulation,…
It is hard to say exactly what the long-term impact of the Occupy Wall Street movement will turn out to be. Will it seem in retrospect a very impassioned but transient response to a very serious economic crisis caused largely by the unprincipled marketing of mortgage-backed securities of very dubious value? Or will it be…
Here we go again. And there’s more. Corinthian Colleges, after having dashed any academic hopes of its students, is now also accused of predatory lending. That the wake and fiasco continue should come as no surprise, as online education continues to be the equivalent of fast food in many instances–too convenient and advertised with the…
The Department of Education and Corinthian Colleges have been engaged in extended negotiations over how the for-profit corporation will either shut down or scale down its various entities, including the Everest University, WyoTech, and Heald College chains. The government actions against Corinthian Colleges came after the Harkin Report highlighted Corinthian’s extraordinarily high student-loan default rate,…