Our situation with the Department of Education is still fluid, but we are making progress. Since my note to you yesterday, we have been in continuous discussions with the Department and we have exchanged a number of proposals and ideas. While there is no guarantee, we are aiming to reach agreement with them shortly. We believe that we are aligned with the Department on at least three key principles: 1) students will be given an opportunity to complete their education without material interruption, change or additional cost; 2) faculty and staff will be treated in a manner that causes minimal personal and financial disruption; and 3) the agreement will consider the value of the schools for students, employees, and taxpayers, and respect the interests of the government and Corinthian’s fiduciary and contractual obligations.
We have been heartened by our employees’ response to our situation; some of you have even offered to work temporarily without pay so that you can continue to serve our students. I am certainly not expecting anyone to work for free, but it goes to show how committed our employees are to changing students’ lives. In addition, thousands of our employees, friends and family of Corinthian have signed an online petition in protest of ED’s action. We appreciate the show of support.
In light of the progress we are making with the Department, please plan to come to work as usual on Monday. I will continue to keep you updated as we move forward.
Thanks,
Jack