- Corinthian Colleges Inc. moved into its final chapter this week, filing for bankruptcy.
- The for-profit college chain listed $19.2 million in assets and $143.1 million in debt on its bankruptcy filings, The Orange County Register reports.
- Corinthian received $1.4 billion in federal student aid in 2013, before it was forced to sell off most of its 107 campuses and close the rest, according to the article.
Corinthian Colleges has become synonymous with the worst the for-profit sector has to offer. The company has been under investigation or sued for misrepresenting a number of metrics, including student grades, attendance rates, and job placement numbers. It has been accused of misleading students, trapping them into unreasonable loans, and providing them educational credentials they can’t use to get jobs. While the chain is now officially dead, some litigation is ongoing and many students are still fighting for loan forgiveness. With this in mind, no one should expect Corinthian to fade from the conversation too quickly.