Corinthian Colleges abruptly shut down all 28 of its remaining campuses on April 26, 2015, stranding 16,000 students mid-semester, and filed for Chapter 11 bankruptcy protection on May 4, 2015, after months of federal and state investigations exposed systematic fraud affecting over 72,000 students. …
The U.S. Department of Education imposed a 21-day hold on all federal aid flowing to Corinthian Colleges on June 12, 2014, after the for-profit chain—operating as Everest College, WyoTech, and Heald College—refused to provide documentation substantiating falsified job placement rates. The action …
Department of EducationCorinthian CollegesArne Duncanfor-profit-collegesstudent-debtfraudcorinthian-colleges
Between 2005 and 2024, the United States operated a two-tiered bankruptcy system that weaponized debt against students and working Americans while preserving bankruptcy as a strategic wealth-preservation tool for corporations and the wealthy—a defining example of 21st century American kleptocracy. …
Corinthian CollegesITT TechUniversity of PhoenixPurdue PharmaSackler Family+2 morebankruptcy-lawstudent-debtcorporate-fraudinequalitykleptocracy