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Department Of Education Says It Is Not Responsible For Closing For-Profit College

News from BuzzFeed:

In an briefing call yesterday, a senior Department of Education official appeared to distance the agency from claims that it had intentionally caused the shutdown of a major for-profit college.

After Corinthian Colleges announced in June that a financial penalty imposed by the Department of Education had placed it in danger of immediate collapse, observers and analysts were quick to credit the government with intentionally moving to shut down one of the sector’s most troubled colleges. The government “knew exactly what it was doing” when it cut off the cash-strapped company’s access to loan money, one analyst claimed; a Bloomberg story said the penalty showed the department had at last “found a way” to “rein in for-profit……………. continues on BuzzFeed

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