Word is that the Campus President was directed to do so by its corporate Office in Santa Ana, California. Back early Feb 2014, there was a news release that the U.S. Federal Government has denied additional funding to Corinthian Colleges. on another U.S. Government Website it is listed that a number of for=profit institutions have received subpoenas. They currently under investigation by Departments of Education, Justice, Labor, Veterans Affairs, and Securities and Exchange Commission. and by more that a dozen State Attorney Generals.
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That was not a denial of additional funding per se, but rather approval of new programs.