A for-profit college suddenly shut down all its campuses last week, leaving Massachusetts and Maryland students out in the cold. The owner of the company, American Career Institute (ACI), told me today that the business is closed for good, because its lenders forced it to shut. Although we don’t know all the facts yet, ACI’s abrupt demise appears to be another window into how lax standards in the for-profit college industry can harm students and taxpayers.
On January 9, ACI sent a letter informing students that, due to financial problems, all of its campuses would close immediately. ACI had campuses in Columbia, Silver …
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