The U.S. Department of Education’s ill-advised effort to broker the sale of 56 campuses of the discredited Corinthian for-profit college chain to ECMC, a student debt collection operation, has hit some snags. The transfer of campuses to ECMC has been delayed nearly a month, to February 2, in part because various state regulators need to give approval, and
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The U.S. Department of Education has blessed a deal under which a non-profit student debt collection company, Minnesota-based Education Credit Management Corporation (ECMC), will pay $24 million to acquire 56 campuses, operating under the brands Everest and WyoTech, owned by collapsing Corinthian Colleges, one of the most abusive and deceptive for-profit college companies. The terms
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