July 15, 2005
Education Company Under Investigation
The Career Education Corporation, one of the country's biggest for-profit higher-education companies, disclosed last month that the U.S. Department of Education had put a freeze on approving new applications for additional campuses or acquisitions while it examines the company's financial records and compliance with federal student-aid regulations.
The department sent the company notice of the freeze on June 21. But Career Education did not make the news public until June 29, about