Corinthian’s Crisis Raises Questions on an Unprecedented Scale

Corinthian’s Crisis Raises Questions on an Unprecedented Scale 1

H. Lorren Au Jr., The Orange County Register, ZUMAPRESS.com, Newscom

It's not yet known which of the company’s 100-plus campuses—which serve more than 75,000 students—will be sold or closed. The for-profit sector has had closures before, one higher-education expert said, “but nothing of this magnitude.” Above, a campus of Corinthian’s Everest College in Santa Ana, Calif.

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close Corinthian’s Crisis Raises Questions on an Unprecedented Scale 1

H. Lorren Au Jr., The Orange County Register, ZUMAPRESS.com, Newscom

It's not yet known which of the company’s 100-plus campuses—which serve more than 75,000 students—will be sold or closed. The for-profit sector has had closures before, one higher-education expert said, “but nothing of this magnitude.” Above, a campus of Corinthian’s Everest College in Santa Ana, Calif.

The U.S. Department of Education and Corinthian Colleges may have agreed on a way to keep the for-profit education company’s colleges open for the time being, but almost everything else about Corinthian and its fate is up in the air.

And the fallout from the company’s crisis will be settling unpredictably for some time on its more than 75,000 students and the for-profit sector as a whole.

The "memorandum of understanding" signed by the department and Corinthian,