It looks more and more likely the ECMC deal will be unwound. DOE is getting LOTS of pressure from Congress to call the whole thing off. Ironically, Congress is willing to write off the CCI federal student loans as a loss. DOE has told ECMC in so many words that they should expect MASSIVE new oversight and other conditions as part of the deal. ECMC has told DOE that this is a strictly "Take it or leave it" offer. ECMC managment is NOW hoping that the deal falls through. CCI will be filing for BK in Feb. whether or not the deal goes through.
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It will be official in a week or two. The ECMC deal is off.
508.... What do you smoke?
Hearsay, none of you really have any idea.
There are other large schools that will soon be failing as well. Do not think that the ED is not aware of that. There will not be buyers for these schools ... considering the political head wins. Hence, large write-offs will be taken. There is a domino effect.
515 called it out ... this is almost the same post from a few weeks ago. Any deal can fall through at any time. However, there is a strong political and business case to indicate that it will not. The political pressure has actually decreased as many if those 13 have realized this will come to fruition. In addition, there was never a point of discussion centered on sale failure and write off of 1.4 billion. Discussions were centered on student protections.
Dave Hawn just issued a memo ... to the media ... indicating their committment to close sale. In addition, they continue to workv with Cci to find a resolution for Cali schools.
You say Congress is willing to write off the loans, it's only about 13 democrats that are pushing for it. Maybe you forgot that the Republicans now control the House and Senate.
I agree with the OP. It blows me away how many Kool Aid drunks are still in denial if this very real possibility.
This scenario is well within the list of possible outcomes. All hell breaks loose even if the sale closes in February. There is no doubt that CCI's future is all doom and gloom. It just doesn't get any better than now. And the light at the end of the tunnel has been dim for some time.
Plausible fiction.
Hey OP you used the unwound theme weeks ago with different reasons. If you don't want to sound like the idiot you are, try not reusing the same stupid wording.
That didn't take long... You guys' Koolaide must be caffeinated.
I call BS
And your source?