IF (which is likely) that CSAC turns down Heald's reinstatement of Cal Grant on Friday then an announcement will be made early next week shutting down Heald college. The announcement will blame the shutdown on the "unreasonable" actions of both the state and federal government.
8 replies (most recent on top)
Leadership in CA has been mum. Company policy in Santa Ana is "let them find out from someone else, (online, news media, etc).
Heald's not too big to fail, not even close. Corinthian was, but it's made a soft landing.
I do not buy the posts here. If Heald staffers are gone, how is there still a functioning college? Know this from someone who worked at brokerage before dialing back to start a teaching career: Heald is just about too big to fail. The economic costs to the DOE and State of CA would be staggering. The Sacramento meeting will be where all parties come together and Heald is told to "play ball" or face a shut down. This is a small-time version of what took place with auto industry before the bail outs. Heald survives, though a bit leaner and certainly humbler.
Is there any formal communication about the status of a buyer? Anything coming from CAO? Or is it just weak talk that there are entities interested? After what happened with Canada schools, Healds future is grim
There are no buyers at the table. No sale is pending. I love the optimism from some that Heald will be saved, not looking very hopeful.
254, without a display of financial stability, WASC is very likely to suspend accreditation or put it into some sort of pending status. That will make Heald unattractive to any buyer. A sale is extremely unlikely. Every Heald staffer I know has put out feelers, begun a part-time career elsewhere, planned for retirement, or quit.
I don't know whether the announcement in that case would be made next week, but IF CSAC turns down the CalGrant reinstatement, closure is almost certain, and yes, Heald will blame "unreasonable" actions by the state and federal government. That has been the form so far.
I don't know. There are plenty of non-Cal Grant students. I think the issue will be how to keep Heald stable until the sale is complete. That would benefit everyone in the state.