QUOTE AND NEWS
Cellular News  Nov 30  Comment 
Comcast Business today announced an expanded relationship with COCO, a Minnesota- and Chicago-based provider of shared workspaces, meeting venues, coworking memberships, and educational and social events, to further...
MarketWatch  Aug 18  Comment 
The CFPB and state AGs reached a proposed settlement that could help former Corinthian Colleges students.
New York Times  Sep 22  Comment 
The Education Department said a staff report found a body that had overseen failing institutions like Corinthian Colleges and ITT had fallen short.
MarketWatch  Jun 29  Comment 
The Department of Education approved more than 11,000 claims for student loan discharge from former students of Corinthian Colleges.
New York Times  Jun 22  Comment 
The disclosure, found in internal documents in a suit filed by employees of the defunct for-profit education company, could help former students get loans forgiven.
Forbes  Jun 16  Comment 
Count the Department of Education among those who want to revoke recognition for the Accrediting Council for Independent Colleges and Schools (ACICS), one of the gatekeepers of federal student aid dollars. ACICS has accredited troublesome...
New York Times  Mar 25  Comment 
Additional students defrauded by the now-defunct Corinthian Colleges were made eligible.
Yahoo  Mar 25  Comment 
BOSTON (AP) — The U.S. Department of Education is offering debt forgiveness to another wave of students who attended Corinthian Colleges, the now-defunct chain of for-profit schools that had campuses across the country.
USAToday.com  Mar 25  Comment 
Students who attended Corinthian's Everest and WyoTech brands get debt relief from DOE.
MarketWatch  Mar 24  Comment 
Judge orders Corinthian Colleges to pay $820 million to affected students and more than $350 million in civil penalties.




 
TOP CONTRIBUTORS

Corinthian Colleges is a for-profit post-secondary service with institutions in the United States and Canada. The company makes money through its 110,580 enrolled students, to which it operates 101 schools in 25 states and 17 schools spread out around Canada. Corinthian provides associate's, bachelors and master's degrees in healthcare, criminal justice, mechanical, trades, business and information technology. When unemployment rises, individuals tend to choose to return back to school when the labor market becomes scarce.

Business Growth

Corinthian's development is centered upon two major strategies. For its existing campuses, the company uses an integrated and centralized marketing program to create cost synergies as well as use acquisitions to expand campus size. From a second online front, the company has taken advantage of the increasing number of students electing online only status for their degrees, which provides convenience in location for both parties.[1]

Trends and Forces

Unemployment is a Key Factor toward Student Enrollment

During times of high unemployment , the job labor market dries up as jobless rates climb. Individuals who once considered higher education but failed to commit due to a lack of job security have now more incentive to re-enter school because the opportunity cost of staying at home to find a job is now greater. As such, education institutions such as Corinthian will seek to benefit from such a rise in unemployment.

For-Profit Educational Institutions Operate under the Watchful Eye of Intense Regulation

Because the majority of educational institutions are not-for-profit, for-profit institutional such as Corinthian must follow extensive regulatory requirements and could suffer severe fines and penalties such as the loss of access to federal student loans and grants should they seek not to follow the. Because a majority of revenues on a cash basis come from federal student financial aid, Corinthian must follow certain restrictions such as the fact that the percentage of revenues derived from each institution be less than 90%.

Competition

Corinthian competes with other not-for-profit education institutions, as well as for-profit such as:

  • DeVry (DV) is a provider of educational services, providing a range of programs in business, healthcare and technology and serve students in middle school through postsecondary education, as well as accounting and finance professionals.[2]
  • American Public Eduction (APEI) is a provider of online postsecondary education focusing on the needs of the military and public service communities.[3]
  • Apollo Group (APOL) is a private education service provider with educational programs and services both online and on-campus at the undergraduate, master’s and doctoral levels through its wholly owned subsidiaries such as The University of Phoenix.[4]



References

  1. COCO FY2010 10-K, Pg 21
  2. DV Business Description
  3. APEI Business Description
  4. APOL Business Description
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