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Kamala D. Harris
Corinthian Colleges to sell 56 campuses to nonprofit for $24 million
Corinthian Colleges to sell 56 campuses to nonprofit for $24 million

Orange County-based Corinthian Colleges Inc. said Thursday that it has agreed to sell off 56 campuses for $24 million to a nonprofit entity that collects student loan debt on behalf of the federal government. The deal between Corinthian and Educational Credit Management Corp., a so-called student loan guaranty agency, represents a large share of Corinthian's campuses. In July, Corinthian agreed to sell off 85 campuses and wind down operations at 12 others as part of a settlement with the U.S. Department of Education. Corinthian has been in the cross hairs of federal and state authorities over the last year amid allegations that the company falsified student job-placement rates and...

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