As part of the agreement, ECP is cutting all CJ and CI programs as of January 15. I wonder what will be next?
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CCI is over. They sold their only remotely successful assets (which were not successful) and still have to deal with regulators and state AG's for not complying with requests. The Everest brands ECMC bought will be downsized and consolidated (probably going to only keep one online service center open.) ECMC is a debt collector, not an educator. If you want to be a debt collector, stay there. ECMC will simply conduct business in the exact same way CCI did, in every way. The hey day for for-profit is over. Non-profits still have to show value or state regulators step in, and are even harsher than the feds. The only people excited about ECMC are the CCI lifers, unemployable in any legit field. They are the ones who have no issue working for predatory, subprime organizations. Its time smart people left those organizations and the demographic that infests them.
245, I agree with what you say. It is the industry itself that caused their own demise, not the government. However, I still am concerned that ECMC has NO experience running colleges. They bought is at an extremely low price, so they have little risk. Do you think CCi will be any better off in a couple of years?
All for profits schools enjoyed rapid growth when the economy tanked. When these students graduated and couldn't find jobs due to the garbage reputation of these schools, that's when the shit hit the fan. Soon, loans are defaulted on and the government comes in and punishes these scumbag "schools." Now, only a rare few of these schools are successful and CCI and it's similar ilk are rightfully paying the price for years of "f*** you" greed. NONE of these CEO's of the industry know anything about education, the industry always was a scam. Now the scam is simply over,
ECMC has shown that they know the debt collecting business. A couple of years ago everyone (including Wall Street) thought that Jack knew everything about running an education business. Look where we are today!! Business history has many, many examples of companies that looked good and then failed miserably. The ONLY thing any of us can do is take care of our OWN business and work for whoever. If you want to stay on a sinking ship, I would suggest you learn how to dog paddle real well. WOOF, WOOF!!
ECMC may not know much about education but they do know business. They have evaluated courses and determined they are too costly and problematic to continue. Way to pull the plug.
Let's all just keep in mind. ECMC are debt collectors and know nothing about running colleges. We all need to determine for ourselves how big a "learning curve" to give them and if we want to stay around to help educate them.
We should have cut them years ago. They have always had significant placement issues.
Not what will be next, but who will be next?