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U.S. Consumer Financial Protection Bureau
For-profit Corinthian Colleges in O.C. warns it could shut down
For-profit Corinthian Colleges in O.C. warns it could shut down

A besieged chain of for-profit colleges based in Orange County is in danger of shutting down after the U.S. Department of Education levied new restrictions on its students' access to federal student aid. Santa Ana-based Corinthian Colleges Inc., which operates more than 100 campuses under the Everest College and WyoTech brands, disclosed in a Thursday filing that the Education Department has placed the company on a "heightened cash monitoring" status. That jeopardizes cash flow that is crucial to keeping Corinthian afloat. Nearly 90% of the company’s revenues come from federal student loan and grant dollars. Typically, federal student-aid money becomes available...

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