Corinthian Colleges, the embattled for-profit education company, is going on the offensive in California as it looks to sell its remaining campuses that continue to enroll thousands of students.
The company has accused state Attorney General Kamala Harris of preventing the sale by making “unreasonable demands” of potential buyers. And it’s pressing her to reverse her decision to hold any future owners of the campuses liable for the state’s lawsuit against Corinthian -- a requirement it claims is scaring off interested buyers.
Corinthian is encouraging its California-based students and employees to sign a petition and organizing rallies outside the attorney general’s San Francisco and Sacramento offices on Friday.
As part of an agreement with the U.S. Department of Education, Corinthian has continued to operate its California campuses as it looks for someone to purchase them. But if it can’t secure a buyer within the next several weeks, the college says, it will be forced to close its campuses in the state.
That would open yet another unprecedented chapter in the dismantling of Corinthian that federal officials have overseen since last July. A sudden closure of Corinthian’s remaining campuses would leave the Education Department on the hook for the federal loans of thousands of students.
At the same time, department officials are also deciding how to respond to growing pressure to provide debt relief to former Corinthian students across the country. On Thursday, nine state attorneys general called on the department to make it easier for those former students to have their federal loans canceled.
Read more at Inside Higher Ed: https://www.insidehighered.com/news/2015/04/10/corinthian-colleges-goes-offensive-california-state-ags-push-loan-forgiveness