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Expert Analysis

The For-Profit School: A Bankruptcy Trend Worth Watching

Law360, New York (June 18, 2015, 5:31 PM EDT) -- It is a rare circumstance where a for-profit college files bankruptcy because filing means immediate loss of its main funding source under Title IV of the Higher Education Act of 1965, but, in this case, Corinthian Schools Inc.[1] had no other option. Because of rigorous and now continuous scrutiny that for-profit higher education institutions are now facing from governmental bodies like state attorney generals, the U.S. Department of Justice and the Consumer Financial Protection Bureau, among others[2], for-profit schools are being targeted by these governmental agencies and forced to close their doors. Because of this, for-profit school bankruptcies may very well be the next bankruptcy trend....

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