It's over for Heald. California suspending the Cal grant on concerns that Heald is no longer viable and financially stable. CCI's attorneys are already preparing to file for bankruptcy which means Heald shuts its doors.
7 replies (most recent on top)
Anonymous68362: Hmmm, methinks you're the one who could do with some schooling. Who are you even trying to respond to, anyway? The OP? In this case, bankruptcy will likely mean a suspension of Title IV aid and the thus closing of the schools due to a lack of operating revenue. CCi has massive debts beyond their meager to non-existent assets. It will be more or less immediate.
Heald closes its doors the moment CCI files BK. Once an educational institution files BK then ALL federal funding ceases.
If Heald shuts its doors it will be because of the incompetent people who did not provide the required paperwork to CSAC. Or Kamala refusing to release potential new owners from liability. Or ED insisting on a non-profit status.
That is not what bankruptcy means. Go to school. Learn what bankruptcy means. Then come back and make an informed comment.
Fair enough, it looks true. I agree with OP -- that is the death knell for Heald. Kamala wouldn't let up because she won't have fraudulent schools like we've been running in her state. She's been proven right in all of this. ED brokered the deal with ECMC that's led to the "business as usual, nothing will change" mantra that we've all been hearing from the same leadership we've always had as well as our ECMC visitors.
312: It's true: http://www.sfgate.com/education/article/Cal-Grants-halted-at-10-Heald-College-campuses-6080722.php
Any links to the news on Cal Grant? Otherwise, this sounds like more trolling.