Learning Ecosystems

For-profit college operator Corinthian Colleges, Inc. is in trouble, as the majority of its campuses are being sold to a newly formed segment of a student loan firm for $24 million.

The company is now winding down its ownership. The purchasing company is the nonprofit Zenith Education Group, which will be buying 56 Everest and WyoTech campuses covering 17 states, as well as Corinthian’s online courses. Chelsea Dulany and Alan Zibel, writing for The Wall Street Journal, explain that Zenith is owned by Oakdale, Minnesota-based ECMC Group, Inc., a company which provides guarantees for federal student loans and collects loan payments on private student loans. Zenith will finish the wind-down of the 12 schools it is acquiring from Corinthian, as part of the deal that will likely close in January.