Corinthian Colleges has put six of its Everest College campuses in Washington up for sale.
Under an agreement the company reached with the federal Education Department last week, the company is closing 12 college campuses and selling 85 U.S.-based campuses, including schools in Everett, Seattle, Bremerton, Tacoma, Renton and Vancouver.
According to a Securities and Exchange Commission (SEC) filing, Corinthian “will make a diligent, good faith effort” to sell the 85 to new owners over the next six months. It’s unclear what will happen to students if the company is unable to sell the campuses.
Last month, the Education Department put Corinthian on heightened financial monitoring with a 21-day waiting period for federal funds. That was after it failed to provide adequate paperwork and comply with the department’s requests to address concerns about the company’s practices.
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The department said the concerns included allegations of falsifying job-placement data used in marketing claims to prospective students, and allegations of altered grades and attendance.
The company faces multiple state and federal investigations, including one by the Washington state Attorney General’s Office.
The Washington Student Achievement Council, which disburses state aid to students attending colleges in Washington, is no longer providing state financial aid to students attending Everest College-Renton, and has never provided state financial aid to students at any of the other campuses.
About 3,400 of the 72,000 students who attend schools owned by Corinthian will be affected by the closures, the company said.
The campuses that are closing are in Bensalem, Pa.; Chelsea, Mass.; Cross Lanes, W. Va.; Eagan, Minn.; Fort Worth, Texas; Grand Rapids, Mich.; Kalamazoo, Mich.; Merrillville, Ind.; Salt Lake City; St. Louis.; Silver Spring, Md.; and McLean, Va.