ORANGE COUNTY REGISTER: Emergency order forces Corinthian Colleges to stop enrolling new students

Career College Central Summary:

Two Orange County campuses and 11 others in the state owned by embattled for-profit education giant Corinthian Colleges must stop enrolling new students this week under an emergency order from California consumer protection officials.
Citing concerns over the school’s financial resources, mounting legal pressures and inadequate regulatory disclosures, the Bureau for Private Postsecondary Education ordered Corinthian to cease enrollment at its Everest and WyoTech campuses after Thursday.
Bureau chief Joanne Wenzel said in a statement Tuesday that the order was necessary to “protect individuals who may have been thinking about enrolling at these schools.” However, it does not require the campuses to cease operations altogether.
Corinthian has been seeking to sell its California campuses since June under an agreement with the U.S. Department of Education and has previously argued that continuing to enroll students was necessary to maintain their financial viability and prevent school closures.
The agreement with the U.S. Department of Education followed years of increasing scrutiny by state and federal regulators over the accuracy of Corinthian’s job placement statistics and loan practices, and marked the beginning of the company’s slow unraveling.

Click through to read the full article.