FROM: U.S. DEPARTMENT OF EDUCATION
Statement from Education Under Secretary Ted Mitchell on the closure announcement from Corinthian Colleges, Inc.
APRIL 27, 2015
Students seeking better life options should be assured that their investments will pay off in increased knowledge, skills, and opportunity. Today, Corinthian Colleges, Inc., announced it was effectively ending operations, following the company's failure to find a buyer for its remaining campuses willing to abide by conditions put in place by the Department to protect students, borrowers and taxpayers. As Corinthian closes its doors for good, the Department will continue to keep students at the heart of every decision we make. Department staff will immediately begin outreach to Corinthian students to review all their options, which may include loan discharges for students whose school closed. What these students have experienced is unacceptable and we look forward to working with Congress in an effort to improve accountability and transparency in the career college industry. A college education remains the best investment a student can make in his or her future, and this Administration will continue to work to make a college degree affordable for all students, to hold colleges accountable, and to safeguard the interests of taxpayers.