And he says Zenith may be using some of the same tactics that finally brought Corinthian down. One concern, that ads imply jobs will be waiting for students who graduate.
Former Corinthian students, saddled with debt and unable to find jobs in their career fields, still are left struggling. Under an Obama administration program, students defrauded by Corinthian were to get their federal student loans forgiven. But in December, U.S. Education Secretary Betsy DeVos announced that policy was being scrapped and some students may not get full relief. Read more here: http://www.latimes.com/business/la-fi-student-loans-corinthian-20171220-story.html
Update: In response to this post, Zenith released a statement late Thursday, contending that the monitor's report "contains several apparent misunderstandings and, in some cases, misstatements of Zenith's business practices and regulatory requirements."
"For example, the monitor argues that Zenith’s homepage fails to comply with a Department of Education regulatory guidance, the enforcement of which has been delayed and thus does not apply to Zenith. Additionally, the monitor’s report mischaracterizes the nature of a teach out, which allows students to complete their entire educational program, not just specific courses, before a campus is closed," the statement says in part.
Zenith goes on to say this: "Since acquiring 56 campuses facing certain and immediate closure in 2015, we made significant investments in student success, including contributing $500 million in cash that resulted in savings for American taxpayers of an estimated $435 million in potential closed school losses, and facilitated the discharge of more than $480 million of private student debt, sparing students the burden of repayment. In total, we graduated more than 15,000 students in the programs we continued after we acquired the schools and achieved a 73.2 percent success rate in placing those students in jobs in their sector."