WASC is going to do a comprehensive review of Heald accreditation. WASC has already told Heald to NOT pursue the BS degree programs. WASC may reduce Heald from SR to JR accreditation. WASC has found out that at least in Silicon Valley ALL IT positions now require a BS degree and has received so many complaints about Heald IT program from instructors, students and employers that the IT programs are likely to be taught out.
5 replies (most recent on top)
Yeah, you"re doing a helluva job, Brownie.
Oh, yes, when CCi paid $435 million, if I remember right, for Heald CCi was solvent. Even after the purchase CCi had over $200 million cash in the bank, if I remember right. Today? Breach of covenant of debt. Also on the conference call it was already predicted that the Department of Ed financial responsibility score is expected to be less than 1.5, another breach of covenant. Also once CCi's financial responsibility score goes below 1.5, additional controls will be needed. Personally, watching the company go down so fast, I can envision the score going below 1.0, the not financially responsible area.
The finances could be the deciding factor. Heald was on probation with WASC when CCi bought it. CCi was more or less solvent back then.
Heald accreditation could get yanked. Not likely but it could happen.
That's better than yanking Heald's accreditation altogether.