if I were the betting type, I'd put on we won't be open on Monday.
14 replies (most recent on top)
I should have placed that bet.
(I'm 231) I was referring more to the idea that the doors would be locked without warning on Monday more than the idea of whether there will be a teachout. Functionally, the schools are in teachout right now, although a formal teachout requires filing plans, agreements with WASC and other schools, etc. I think the government will do as much as it can to avoid having to forgive loans. I am at a loss for what that really means as far as school closures. It could be as early as Tuesday or as late as July, but I can't imagine it going any longer than that.
Sorry....referring to 231, not 241......
241: I believe that DOE regulations prohibit distribution of Title IV funds to an organization that has filed bankruptcy. That effectively puts CCI out of business immediately without a teach out That said, DOE will do whatever it can to keep CCI afloat to avoid having to forgive loans.
My bet is we are told Monday there will be a teachout.
Filing for bankruptcy does not necessarily mean closing the door immediately. http://www.uscourts.gov/FederalCourts/Bankruptcy/BankruptcyBasics/Chapter7.aspx. There's no reason to believe there would not be notification, even if it's on the same day.
If CCI didn't pay the $250,000 forbearance fee that was due on Friday to Bank of America, then they will mostly likely file bankruptcy on Monday.
Nothing would surprise me at this point, but Monday seems like a weird day to close. I think there will be notification of some kind to both students and staff. That could be an email or text, but I don't think it will be a sign on the door.
I, unfortunately, have to agree with 119 and 125. We're not lucky enough for the place to be closed on Monday.
Chubby white women are like MuthaF-en kryptonite to black men. And long dicked black men are like F-en kryptonite to Jack. It's just one of the mysteries of the universe.
129, thank you for sharing your opinion with us
119 & 125 seriously? Let me ask you this you this? Before the last 2 weeks, has Heald been brought to zero new income, has security disappeared due to not being paid, were you able to put trash in dumpsters that are now gone due to nonpayment. To pretend that events the past couple of weeks are no different from what has happened in the past 2 years, show abject stupidity and an incomprehensible ability to use any kind of critical think. Heald will close soon and I pity you that you don't have the skills to be prepared for your own sakes. I just hope your parents have a big basement.
I agree with @119..
Enjoy your weekend.
Disagree. We have been reading "we'll be closed Monday" for about two years. Relax and enjoy the weekend.