(06-19) 15:12 PDT San Francisco -- Corinthian Colleges, Inc., a vast education company that gets $1.4 billion a year in federal aid for 72,000 students - including thousands enrolled at its for-profit Everest, Heald and WyoTech colleges in California - said Thursday that it may be forced to shut down in the wake of a federal investigation.
The publicly traded company told the Securities and Exchange Commission that it may go bankrupt because the U.S. Department of Education is delaying federal aid payments by about three weeks to all of its campuses.