Ok so can someone please tell me what this means for SOCLE... How does this affect their department? Is that the ship to jump in? We've got questions, nobody has answers!
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18939 wasn't kidding! I just got an email from LinkedIn asking me to congratulate an ex-colleague on "7 years at Socle Education." Wow, 2013 seemed like just last year...I must be getting old.
BTW, the "rebranding" rumor was just that. A few people apparently misunderstanding or lying about a call that took place yesterday. So there's not going to be any rebranding. It's just shut down schools, try to sell schools, then declare bankruptcy and everything goes to the creditors.
19005 - LMAO! For everyone else, it's an inside joke :)
Woot Woot! SCORE!
18991 - you haven't heard the latest, inside scoop. See, Jack's putting the schools up for sale, but nobody will want to buy them. He's pretty sure that after about 6 months or so, ED and the public will have totally forgotten everything and we can carry on as though nothing ever happened. Just to make sure everything goes smoothly, we'll be "re-branding" the schools. With a new name, nobody will ever connect them with "CCi" or "Everest" or "WyoTech." See, easy as pie and, remember...everything is FINE. Just keep smilin' and dialin'!
I doubt that Socle can wiggle out of whatever (prob bankruptcy) is coming next. Even if they do, CCi is going away, and you can bet that any buyers won't be using Socle. They have a few small outside clients, mostly for default prevention, but the negative PR will end that for them. Hope those folks have their resumes all spiffy and are hitting the pavement every chance they get!
Please everyone search down through this site for the threads on Socle. For some reason someone/s feels the need to keep coming on and misrepresent Socle as being a distinct company from CCi. In 2009 CCi created an internal financial aid processing center (SFS) in Tampa to take over behind the scenes aid processing from Global FAS (a third party processor). In 2013 they changed the name to Socle to distance themselves from CCi and try to gain outside clients to bring in more money. Their address is CSC and their location (Tampa) and management are the same as when they were SFS. Socle is listed as a fully owned subsidiary of CCi and were required to be a signatory on the SEC document relating to CCi's obligations. Their staff all changed their LinkedIn pages to show them as having worked at "Socle" since 2009 and the Socle Education site only mentions CCi as a "client" and "success story." It's all very shady and absolutely the same company.
SOCLE is 100% responsible for the $350M in debt that CCi must pay back. Also if CCi files bankruptcy, SOCLE will be along for the ride.
Anonymous18890; Nope, Texas A&M just signed for outreach and two more are lined up.
Anonymous18893: Come back in six months and see what Socle is up to. Socle does not have to be sold and it isn't part of the agreement, Socle is not a school. It is not controlled as much as CCI is from the Doe. We do all the paperwork for the school and the DOE pays the school not Socle. The scholl pays Socle to do the work. Once more, Socle is a service provider not a school and thereby it doesn't have to be sold or closed.
Socle is a subsidiary of CCi and had to sign the SEC agreement. They will be sold and/or closed like the rest of the business. There's a lot more information in threads downstream from this. If you work for Socle, you should be aggressively pursuing other options.
How long will they remain open? Are they shutting down the Default Prevention team that just moved in a year ago?
How does what affect their department? The whole ED and states suing mess? Or something more specific?
Didn't you read the 8k socks is closing