It's just enough to get you last paychecks.
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Things would be different with a Republican executive branch. There's no love lost for CCi or any of the other big career chains right now. I get the feeling that Ed's playing hardball on this one.
On the one hand, ED has a lot of incentive to prevent an immediate shut-down, with the extensive layoffs and student disruption. It wouldn't be all bad, since they will have caught a "bad player" and the current admin has been very anti career school. On the other hand, why keep giving them taxpayer money when they're obviously on the way out? The industry has been faltering. I don't see the other major players (CEC, EDMC, etc) purchasing the CCi schools. They'll probably sell for pennies on the dollar. Investors are apparently a bit optimistic, though. The stock is up today. Of course, going from 28 to 42 cents isn't really that impressive. I remember when it was at 30 bucks a share.
I think $16 million will not be handed over easily. There are plenty of hoops CCI will have to jump through such as giving the documents that the ED demands and complying with all the rules and regulations of the MOU. CCI is still broke as a joke