(September 19, Blomberg)Corinthian Colleges Inc. (COCO), the for-profit college operator that’s being shut down, said it’s facing two further criminal probes related to financial aid and reporting student outcomes. Corinthian, based in Santa Ana, California, received a federal grand jury subpoena in Florida related to employee misconduct and the return of student-aid funds, it said today in a regulatory filing. It received another in Georgia seeking documents on job placement, attendance and graduation rates. http://www.bloomberg.com/news/2014-09-19/corinthian-colleges-faces-further-criminal-investigations.html
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So, there was some pretty big developments yesterday, in case you missed them. Two new crimonal probes announced: http://www.bloomberg.com/news/2014-09-19/corinthian-colleges-faces-further-criminal-investigations.html (writer's contact info included for those of you interested) and ACCSC placed us under accreditation warning: http://finance.yahoo.com/news/accreditation-agency-places-corinthian-under-224105369.htm. The CFPB lawsuit was filed Tuesday: http://www.huffingtonpost.com/2014/09/16/cfpb-corinthian-colleges_n_5832540.html. Not a coincidence as word is spreading and more and more agencies are getting involved. Consumer groups in several states (including FL) are requesting that their AGs join the other states (eg IL) in forbidding CCi from enrolling new students. There will undoubtedly be more bad news to come next week. If you are on furlough next week, use EVERY MINUTE of it to aggressively job search!
I would suggest bailing as soon as possible to get the few jobs where they might take an explanation. once the flood hit of ex-Everest, it will be too late. This advice is for those that are full time and need the money. Fortunately I am adjunct and it won't matter. I do feel bad for those that did an honest job. Don't wait another day. its almost over. don't wait for unemployment. We all know those on unemployment are the hardest to get hired.
At this point there's so much misconduct alleged that companies are not only going to avoid hiring our managers, they're going to avoid hiring us. They're going to be concerned that those of us in the trenches were complicit in this overwhelming criminal activity. The sad part is that, except for admissions, only the managers were the unethical ones. Most of the rest of us worked hard and were genuinely student-centered. Out leadership have let us down so profoundly that I will be doing everything in my power to get the information that authorities need to them to get all of those assholes in prison. I'm in Florida and have lots to share, particularly when it comes to various managers' complicity. I'm pissed!