I keep seeing posts saying that a couple dozen campuses (the good ones in compliance, I guess) will be bought by ECMC. So what is supposed to happen to the campuses ECMC doesn't buy when CCI closes down on Dec. 31st? Will they just not re-open on Jan. 2nd? Or do you think they'll be shut down when Xmas break starts?
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What about the criminal charges?
The allegations and law suits are just a formality. The reason behind those are to force Corinthian Colleges out of business. ECMC has already been given amnesty against all legal issues if they choose to buy. The biggest hold up is clearing up the warning from ACCSC. If you recall ACCSC gave them until December 31 to provide the necessary information on placement rates to lift the warning.
I hope the legal liability remains...someone needs to be held accountable if the allegations are proven true!
CCi is done as of December 31, 2014. That is the deadline the banks and CCi agreed to. January the banks will foreclose on the hundreds of millions of dollars in loans and CCi can't pay up so bankruptcy will happen.
Knowledge*
In a teach out, no new enrollment can occur. So whoever enrolled for the fall and mini term, to my knowleddge, are the last students. I teach online so I'm not sure how we will be impacted.
302, CCI will remain until teach out is done. But the schools will keep only a skeleton crew on. Everyone will go except A Campus President, Dean, necessary staff, an FA specialist, and possibly a few more people. Everyone (and everything they sell) will be gone. If anything breaks, it stays broken. It will remain open solely to graduate students and not get sacked with reimbursement. It could take up to 18 months if they are still enrolling. It's possible they will only keep one campus open per 50 mile radius.
They will teach out until the last student is standing. If you do not have a student in your class, then there is no need for you. The school will close when all students are gone and graduated. The Milwaukee Campus has people until April.
For sale until Jan 1st. No buyer by then, taught out and closed for good.
Re-Branding!
Who will teach them out if CCI doesn't exist?
If they are not bought a campus goes into "teach-out" Look up the teach-out plans for two other Everest schools that were closed. Eagleton MN campus was one; https://studentaid.ed.gov/sites/default/files/everest-eagan-mn-01035602.pdf