The more that I look at this situation, the more I beginning to think that, if the GOP wins control of Congress, Corinthians just may stay in businesses. The Obama administration is already"termed out" and largely ineffective, and in a regulated industry, its all about the Feds and not state government.
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I remember back in 2008 how CCi was pushing for employees to vote for Obama because he was going to be the education president. Corporate was flying the Obama flag and pushing the propaganda on us to vote for Obama. Seems kind of funny now how it's turned out for CCi. BTW, I didn't vote for Obama either election.
CCI's original plan was to just keep hanging on and see if a more corporate scam-friendly administration came into power but since DoE mandated CCI close by December 31, 2014, that plan went out the window. Don't worry, though, Jack & Co. have been siphoning off the majority of the profits ever since gainful employment and cohort default regulations were even mentioned - that's why there isn't any money. Jack & Co. made sure there wouldn't be any money for anyone to take from them just in case DoE decided to play hardball.
Corinthian Colleges will never survive. As stated they are on life support and it is terminal. They became too big and too greedy. They spent money on corporate perks like there was no end to the money flow. When they started putting people in executive positions that had absolutely no experience in education the emphasis was more on making money than educating the students. Now they can't even pay the coffee bill.
41450 perfectly said.
You need to cut back on your Meds
Really? I'm as conservative politically as the next guy, but this doesn't make sense. CCi is financially and morally bankrupt. As much as I think Obama is a real loser, his administration did do any more than quicken the end. The entire for-profit career college industry is on the ropes. Jack and his administration is totally to blame for the situation we are in - not Obama.