These sales are not for you to keep your job. These sales are to pay creditors and liabilities and so that Socle can exist independently of Title Iv funds. We have said it once before, but it seems some people need to be reminded.The sale of campuses has been the plan for some time. You see Cci exevs stand to make a winfall off of the closure of Cci. All part of the plan before the doe syepped in. The way that plan will work well is if the businesses that buy the campuses use Socle education for thier servicing. Now they may these businesses may need to keep you, they may not, but best believe execs dont care as long as their new favorite company is finally free of government regulations. Socles money will eventually all come from other schools. They may be dependent on title Iv funds, but Socle will not be. Not directly anyway. And yes they habe dumped and are continuing to dump a lot of Title IV money that student enrollment and admissions earns from students into Socle. They will do this no matter who else suffers. That IS their golden child. Trust and believe this is all that matters to them.
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The leadership team discounted CCI over a year ago. They knew they had to get out of the for profit business. Then all of a sudden we were told to make Socle Education work for Cci
At first we were told to make it work generically. We wouldnt be using ot for Cci for awhile. That was around December or January. That is when the execs knew that Ccis downfall was inevitable. That was the plan. When we sell the schools we will sell these services and make money off of the new buyer. They first tried it with Bryman, but unfotunately they went bankrupt. This is why everyone keeps saying that Cci execs dont care what happens to you. Forget the DOE, the demise of everything but Socle was the plan for at least a year.
The leadership team discounted CCI over a year ago. They knew they had to get out of the for profit business. Then all of a sudden we were told to make Socle Education work for Cci
At first we were told to make it work generically. We wouldnt be using ot for Cci for awhile. That was around December or January. That is when the execs knew that Ccis downfall was inevitable. That was the plan. When we sell the schools we will sell these services and make money off of the new buyer. They first tried it with Bryman, but unfotunately they went bankrupt. This is why everyone keeps saying that Cci execs dont care what happens to you. Forget the DOE, the demise of everything but Socle was the plan for at least a year.
273 - My sense is that ECMC is currently in business to collect bad debt. Big difference between that and packaging students for FA. Not defending Socle - just pointing out why it might be attractive to ECMC.
SOCLE couldn't even get it right for the students at the CCi schools. How in the world can they take on more schools. Our FA department complained every day that Socle screwed everything up and they spent most of their time fixing Socles mistakes. And why would ECMC use Socle when that is what ECMC does? Maybe some of the Socle employees will be absorbed into ECMC and taught how to do it right. Socle is nothing but a major pain in the ass to the campuses now.
Survey saaaaays?
148, meaningless post. Go back to the hood and sell drugs, you're better at that
Survey the campuses about SOCLE and post the results. Story over! They couldn't because they would be crucified.
Correction 45207.
Dont try and run game on people 42507. Go sit down somewhere with that propaganda.
Sfs, cpat, student portal may have been developed initially to help with Cci processing, but they knew the ax was going to fall on this for profit scam project of a company. They then took that app and those services, spruced them up and saw the opportunity to sell this mess to other institutions as Socle education and be independent of TITLE IV funds. Even better if when Cci went downdown they could try to pawn the crap off on to campuns buyers. Dont come on this board and try yo run that game on us. Many of us know what Socle education really is avout.
199 - not true: Socle Education was founded by Financial Aid practitioners who believed there had to be a better way to meet the growing challenges of managing Financial Aid. Our goal was to utilize cutting-edge technology and deep industry expertise to develop a solution that provides instant financial aid sophistication to any organization while being flexible to meet the unique needs of each College and University. Working closely with your in-house financial aid team, we will develop a service partnership designed to enhance the capabilities of your financial aid office to relieve the escalating challenges of the financial aid application processing and management process. We bring expertise, technology and rock-solid processes so you can be more efficient, more effective and experience tangible improvements in student outcomes.
Headquartered in Santa Ana, Calif., 55 miles south of Los Angeles, Corinthian Colleges, Inc. (CCi) operates more than 100 for-profit campuses under the Everest, Heald and WyoTech brands. The company generates more than 1.7 billion in annual revenue, approximately 87 percent of which comes from financial aid. The company reviews more than 350,000 financial aid applications per year, processing more than 1.4 million aid transactions annually.
Clearly, efficient financial aid processing is critical to CCi.
In 2009, CCi found itself facing a number of serious challenges. Accounts receivables and bad debt were at unacceptable levels. Packaging errors were slowing down financial aid processing. These problems were negatively impacting student satisfaction and retention numbers as well as leading to frequent audit findings.
CCi called on Socle Education to devise a series of measures that would address these problems and boost the company’s overall performance.
Socle continues to manage CCi’s financial aid program, allowing it to maintain one of the lowest cohort default rates in the for-profit education industry.
Golden I tell you....GOLDEN!
I dare SOCLE send a survey to the FA departments in the campuses. Never will because they know. They suck!
nothing to do with name tarnish. They just suck.
Right, socle couldnt get buyers fast enough because the product s%cks and breaks every time they make a change or get a new client. Plus Cci's name is tarnished. Some customers are smart enough to know Socle and Cci are the same company
SOCLE makes the campuses wish for the good old days of GLOBAL. SOCLE is horrible operation. Everything has deteriorated since its inception. Horrible joke for a business unit with delusional people trying to suggest different.
This was supposed to happen over a 1.5 year period. The campus sales and closures that is. When Doe came in it kind of shook up the plan and they had to do it sooner. They are now desparately scrambling to get clients for Socle to eliminate the Title Iv dependency. If they cant do this. Then Socle AND CCI will fail. BANKRUPTCY IS STILL A POSSIBILITY.
If they get a buyer and the buyer needs to keep you they will. If they dont want you they will replace you. My point is cci is not trying to save you. Nor do they care. Again, they want a company that is free of Title Iv dependency and Doe scrutiny so they can be the best crooks ever.
When was the last time there was a 'we are working hard to keep your jobs in tact' email? It's been awhile . . .
Faculty has zero value. We are disposable. For every faculty member there are 10 PhDs waiting in the background willing to work for peanuts just to stay in the industry.
171, if 'they' are so smart, why are they in this mess?
156, CCI has proven faculty is disposable. You know how I know? I had great retention numbers. They dumped me harder than my boyfriend on prom night. I felt better when my boyfriend dumped me. And that was 10 years ago. The 4th floor does not care about faculty, other emotes or students. That's a fact, Jack.
They are exploring other institutions to use the product. Not just the businesses the sell to. Campuses without security they used that money to promote Socle tonpotential buyers. Books, coffee, toner. They dont care about you. They need to get Socle off the ground.
Point blank period. The goal is too build a company that is free of depending on Title IV funds. That company is Socle.of course right now they need Title Iv but soon they wont. The stock will soar.
There is no guarantee that any pending buyer will use Socle. That is the plan but not 100% guaranteed. No smart buyer will want to be tied to CCI let alone for managed services. There is a huge compliance issue to deal with in terms of keeping the new owners campus records seperate from Canada (for example) let alone anyone else as in the case if Wyotech or Heald were to be acquired seperately. All the systmes are intergrated and on a since instance. They tried to break it apart and could not as in the case of the Bryman school thay paid to unload a few years ago.
Perhaps they have very smart people who they consult with prior to making multi-million dollar purchases.
We will.find out shortly when the 8-k is released
156 - Given that we own very little real estate, faculty and students may be the ONLY value in the deal, and the students (as damaged as many of them are) are valuable only because they represent continued T4 funding/revenue. The whole value proposition for a potential buyer still strikes me as very sketchy, at best.
And how exactly will the execs get rich?
Blind. You are so blind.
Faculty and students are part of the value of the acquisition, otherwise the buyer would be purchasing empty buildings. Stop needlessly terrorizing folks with generalizations.
No, but they are working much harder to keep that entity alive than they are for Cci. Corparate and the schools.
There's no guarantee anyone at SOCLE will keep their jobs.
So those of you who want to save your jobs with CCI should consider joining Socle.