The VA said if the schools in CA do not sell before the 26th then they lose all funding and current students will have to either go to other schools or take out loans and not get paychecks anymore. So we will lose a lot of student body if this happens.
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FOUR other states aside from California have also suspended GI money for CCI. It sounds like Veteran funds are a big chunk of cash for them to lose...having that money gone permanently could be the final push over the ledge of doom.
The above link is for the VA website and will let you search approved institutions by state. WyoTech Blairsville and Laramie still have approved programs.
Each campus and it's programs are individually accredited by the VA for Montgomery GI Bill funding. It is not Title IV funding and is not regulated by the DOE. I helped my campus get the VA accreditation (a very lengthy and involved process) and met with the VA educational liaison for annual audits of student grades and certifications, and for individual program audits. Each state has a liaison that coordinates efforts between schools and the regional VA processing center assigned to that school.
Here are the reference links to this original post.:
https://www.calvet.ca.gov/Pages/GI-Bill-Benefit-Suspended-for-Corinthian-Colleges,-Inc.aspx
https://www.calvet.ca.gov/VetServices/Pages/FAQ-GI-Bill-Schools-Closures.aspx
If CCi can survive long enough, one day 90/10 will be a serious issue.
27344 - we don't need to wait for management to say/prove that we are or are not going bankrupt. All the necessary facts are public. A quick review of the most recent balance sheet combined with our own press releases shows that we are quickly running out of cash, have no access to additional credit, have significant debt service (interest) paymets due soon and declining revenue. The only true unknowns are when - and how much - the DOE will release in student loan payments to allow us to limp along, and will a sale occur soon enough to provide needed operating capital(unlikely). The question is not will we fold - it is how soon......
342, it's a little upsetting to know they haven't yet proved they aren't going bankrupt. Sort if scary actually. I haven't heard anything about this internally. But I can tell you that GI money is extremely important to CCI, so they will likely fight hard to keep it. As an instructor, I would hate to see it if vets weren't allowed to enroll. They are my best students, far and away, every term. And usually my favorite students, as well.
FA for vets has NOTHING to do with accreditation. I think you're confused, OP. But either way, CCI schools are closing or selling, so I imagine a lot of students will be deeply disappointed (or really, really happy) when that happens.
Sorry if I wasn't clear. But CalVet (who runs the GIBill in Ca.) stopped all payments to CCi, until CCi can show it isn't going bankrupt. If CCi can't do this by August 23rd then CCi will lose its VA/ GIBill accreditation, meaning no more veteran students. Just seeing if anyone has heard any word via the grapevine.
This issue has nothing to do with accreditation. It has to do with the approved use of GI education benefit funds. http://chronicle.com/blogs/ticker/jp/california-suspends-gi-benefits-at-corinthian-colleges
CCI wouldn't lose accreditation because of the VA. I'm not sure what your asking. At some point the VA in CA only blocked FA funding to vets in CA. Not sure if that's still standing, but it happened quite awhile ago, so those students should already have worked with their school to resolve issues. I've not heard of any other VA funding that was halted to CCI. You'd have to check out the news for that information. CCI runs 3 different schools. Not all schools have the same accreditation group. And Everest schools have several different accreditation groups for different schools.
What do you mean 'approved by the VA?' Your post makes no sense.
Different schools have different bodies that give accreditation.
Accreditation has nothing to do with the VA. And many schools have different accreditation a from one another. So, not all CCI schools would lose their accreditation at the same time. As far as I know, all schools remain in good standing with accreditation.