student pop is stagnant..certainly no growth..no new programs yet..company continues to lose millions of dollars...does anyone know which schools will likely be the next to teach out..
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Let's not forget that ECMC still will own the collection portfolios for all these schools...they will get their money back. No one went in this deal to loos money...just smoke and screens right now to make it look legit. There are so many things that they would have done right off the bat if they truly wanted these schools to succeed. The DOE should be ashamed of themselves...let this go on for years and don't even have the balls to pull the plug.
When ECMC burns through the entire 200m the DOE fronted them to take over the schools.
The order and schedule of teach-outs/closures are not important. All schools will close when the student loan relief liability drops to an acceptable level for the DOE. One must wonder about the size of the incentive provided to ECMC by DOE to keep this burning, stinking trash barge afloat long enough to get DOE out of hot water. Zenith is doing a masterful job of ramping down the business. Care to guess when DOE/ECMC will pull the plug??