You are undoubtedly aware of the challenges that Corinthian has been facing in the past week with the Department of Education. I want to provide you some background on the situation as well as talking points you can use in answering questions from your students. I also want to encourage you to focus on continuing to provide support for your students as we move forward. Your Dean will be following up with you via faculty meetings and will answer any questions that you have.
Background
In January of this year, Everest parent organization Corinthian Colleges received a letter from the U. S. Department of Education (ED) requesting extensive information on our operations for the past few years, including records relating to attendance, grades and job placement for all of our U.S. students.
We have devoted significant resources to comply with this request, and continue to supply officials with requested documentation.
Despite that, the Department was unhappy with the speed of our response, and informed Corinthian last week that it was placing a 21-day hold on federal funds which represent loans and Pell grants made to students studying with us at Everest and our other schools.
Given the news surrounding the potential impact of the Department of Education’s decision, we understand and want to address your concerns.
Current Actions Underway
· Everest and Corinthian are, above all, committed to continuing to provide instruction and programs on an uninterrupted basis to all of our campus-based and online students.
· That’s why we have maintained continual contact with the Department of Education. We have reached a memorandum of understanding between the DOE and CCI which allows us to maintain uninterrupted operations at our schools (ground and online) until a more detailed plan can be finalized by July 1 .
· Per feedback from the DOE:
o Students and their interests have been at the heart of every decision the Department has made regarding Corinthian.
o All parties will continue to ensure that students are able to finish their education without interruption and that employees experience minimal disruption to their lives.
o The Department is committed to ensuring all students receive a quality education that leads to a well-paying job and a strong future.
· None of these actions will keep your students from completing their program of study, and there will be no impact on their loan or financial aid package.
What Happens Next
Please continue to encourage your students to actively participate in their courses.
Everest and Corinthian will communicate with you as more information becomes available during the week of June 23.