Troubled For-Profit College Gets a Savior With Its Own Checkered Past

Everest College, whose parent company is Corinthian Colleges, in Santa Ana, Calif. Photograph by H. Lorren Au, Jr/The Orange County Register/ZUMAPRess.com

Corinthian Colleges, the for-profit chain under investigation for misleading students and faking job placement records, has a savior. The Educational Credit Management Corp. announced Thursday it plans to buy 56 of troubled Corinthian Colleges’ 107 campuses for $24 million—quite a deal, considering the chain was worth $4.2 billion in 2003.

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