This is just speculation based on reading the DOE letter to Jack. CCI can and probably will file an appeal but the letter is pretty specific about the allegations. Heald probably won't waste time on doing a teach out and a natural time to close the school is RIGHT NOW since the quarter is over.
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Let's not forget that in addition to the action taken by the DoE, the lawsuit from the California Attorney General, and the problems with CSAC, there are other issues looming too. There is also an investigation from the SEC that CCI falsified graduation and placement rates to fraudulently inflate shareholder value, and a complaint from the US Department of Consumer Affairs about the falsified placement rates.
749--The loss of Federal Aid means no student can stay. An appeal that drags on for months won't matter. And if there is no Federal Aid and no Cal Grant (which will happen tomorrow)...no more accreditation. It's over.
You might get paid and laid off on the same day. Don't be surprised if an announcement is made Wed. or Thurs. of this week saying Heald will be closing at the end of the quarter.
I hope we get paid on Friday.
749 You can't really blame them. This drama has been going on for ages and people in here start to hallucinate with opinions.
It's another nail in the coffin. Heald can and probably will appeal but it has other problems notably paying current bills. Jack might be thinking now is the time to file the BK to get this over with.
Heald has until May 5 to appeal. I didn't see any terms in the letter, but I imagine an appeal could extend this drama by months, all the other current drama aside. And this is just speculation, because opinions are like assholes around here...
What about the online program folks? What's going to happen to them?