What Are The Corinthian Colleges?

What are the Corinthian colleges?

The Corinthian Colleges, also known as Corinthian Schools Inc., were a group of for-profit colleges and universities based in the United States. The colleges were owned and operated by Corinthian Colleges, Inc., which was headquartered in Santa Ana, California. The company was founded in 1995 and was one of the largest for-profit college chains in the country, with over 100 campuses across North America.

The Corinthian Colleges offered a wide range of diploma and degree programs, including certificates and associate’s, bachelor’s, and master’s degrees in fields such as healthcare, business, criminal justice, and information technology. The schools were marketed to low-income and working-class individuals and promised career-focused education and job placement assistance.

However, the Corinthian Colleges came under scrutiny for their business practices and were accused of fraud and predatory lending. In 2014, the Consumer Financial Protection Bureau (CFPB) filed a lawsuit against the company, alleging that it had misled students with inflated job placement rates, and charged exorbitant tuition fees.

In 2015, the U.S. Department of Education (DOE) announced that it would fine the company $30 million for falsifying job placement rates and other violations. This was followed by the closure of all the Corinthian Colleges in April 2015. The closure left thousands of students with debt and no degree, but the DOE had a process of loan forgiveness for students who were affected.