dissolved founded february 1995 1995 02 founders david moore paul st. pierre frank mccord dennis devereux lloyd holland defunct april 27 2015 2015 04 27 areas served united states canada website see tfm www.cci.edu corinthian colleges inc. cci was a large for profit post secondary education company in north america . its subsidiaries offered career oriented diploma and degree programs in health care business criminal justice transportation technology and maintenance construction trades and information technology . 1 the la times framed corinthian colleges as a collection of castoff schools that were taken over by wall street investors in 1999 . 2 at its largest cci had over 100 everest heald and wyotech campuses throughout the united states and canada . 3 corinthian s campuses in canada closed on february 19 2015 after the ontario government suspended their operation license . after a series of legal challenges by state and federal agencies on april 26 2015 corinthian colleges announced that they would cease operations at all remaining us locations effective april 27 2015 . the closure affected more than 16 000 students and employees . on may 4 2015 corinthian colleges inc. and twenty four of its subsidiaries filed a chapter 11 bankruptcy in the united states bankruptcy court for the district of delaware . contents 1 history 2 schools and programs 2.1 everest 2.2 everest university online 2.3 everest college phoenix 2.4 heald college 2.5 wyotech 3 accreditation 4 leadership 5 faculty and students 6 financial aid 7 legal proceedings 7.1 california 7.2 federal investigation in the united states 7.3 other state investigations 8 references 9 external links history edit corinthian colleges was founded in february 1995 . 4 the five founders david moore paul st. pierre frank mccord dennis devereux and lloyd holland were executives at national education centers inc. neci a for profit operator of vocational schools based in irvine california . the founders planned to acquire schools that were fundamentally sound but which for one reason or another were performing below their potential . 5 historically cci grew rapidly through acquisitions and through organic growth including opening new branch campuses remodeling expanding or relocating existing campuses and adopting curricula into existing colleges . 4 acquired schools the following institutes and colleges were acquired 6 american motorcycle institute ashmead college oregon and washington blair college colorado springs colorado bryman college bryman institute cdi college duff s business institute pittsburgh pennsylvania eton technical institute port orchard washington florida metropolitan university georgia medical institute kee business college las vegas college national institute of technology nit national school of technology nst olympia career training institute olympia college parks college rochester business institute sequoia college tampa college western business college corinthian colleges faced numerous investigations and lawsuits including a federal criminal investigation . 7 the california attorney general kamala harris stated that corinthian colleges targeted single parents who were close to the poverty level a demographic that its internal documents described as composed of isolated impatient individuals with low self esteem who have few people in their lives who care about them and who are stuck and unable to see and plan well for future through aggressive and persistent internet and telemarketing campaigns and through television ads on daytime shows like jerry springer and maury povich . 8 on july 3 2014 the us department of education doe and cci reached an agreement for cci to execute a controlled shut down of 12 of its usa schools and a sale of 85 other schools with transition funding supplied by doe and monitored by an independent monitor . 9 10 the announcement left the eventual status of the canadian schools undetermined 9 10 however as of 19 february 2015 their operation license has been suspended by the ontario government resulting in the immediate closure of all canadian campuses . in february 2015 educational credit management corporation ecmc a non profit took ownership of more than half of corinthian colleges campuses . ecmc also agreed to forgive student debt on corinthian college s genesis loans after a series of years . 11 12 on april 26 2015 corinthian colleges announced that they would cease operations at all remaining locations effective april 27 which would affect more than 16 000 students and employees . the remaining campuses include 13 everest college and wyotech campuses in california along with 10 heald college campuses in california hawaii oregon and everest college phoenix everest college tempe and everest institute in rochester n.y. 13 on may 4 2015 corinthian filed for bankruptcy in delaware . 14 15 schools and programs edit everest edit cci operated everest campuses in the united states and canada although all us campuses were to be sold or closed beginning on july 3 2014 leaving only the canadian campuses under cci s control . 9 10 everest institute offered diploma programs in health care business computer technology electronics and hvac heating ventilation and air conditioning . 16 everest college offered diploma and associate degree programs in the health care business and computer technology fields . 16 everest university offered associate s bachelor s and master s degree programs . it offered programs in a variety of fields including business accounting criminal justice paralegal studies and health care . 16 everest university campuses also offer diploma programs in health care . there were ten everest university campuses across florida which were formerly known as florida metropolitan university . 17 on february 19 2015 all 14 everest campuses in ontario canada were shut down . 2300 students and over 500 staff were affected by the closures . 18 19 cci has since filed for bankruptcy in canada due to the closures . everest university online edit everest university online euo a division of everest university offered online degree programs in accounting applied management business computer information science criminal investigations criminal justice criminal investigations homeland security and paralegal studies . 20 euo is headquartered in tampa florida . everest college phoenix edit everest college phoenix offered bachelor s degree associate degree and diploma programs . it offered programs in accounting business medical assisting medical insurance billing and coding nursing criminal investigation criminal justice and paralegal studies . 21 everest college phoenix has campuses in phoenix and mesa arizona as well as an online learning center . 22 everest college phoenix was regionally accredited by the higher learning commission a member of the north central association of colleges and school . 23 heald college edit heald college was one of the nation s oldest business career colleges in the western united states with roots extending back to 1863 . 24 heald offered associate degree diploma and certificate programs . it offered programs in various fields including health care accounting business computer technology criminal justice and paralegal studies . 25 heald college was regionally accredited by the western association of schools and colleges senior college and university commission . 26 heald college had campuses in california oregon and hawaii as well as an online learning center . 27 in november 2009 it was announced that cci was purchasing heald s parent company for 395 million . 28 in january 2010 cci announced that it had completed the acquisition . 29 cci retained the heald name and it was reported that it also retained its faculty and staff . 28 wyotech edit wyotech offers career oriented training for mechanical and technical occupations in the automotive diesel motorcycle watercraft hvac heating ventilation and air conditioning electrician and plumbing fields . 24 wyotech had campuses in pennsylvania florida california and wyoming . 30 the california campuses were closed but the other campuses continued operation under new ownership . accreditation edit everest college phoenix campuses are regionally institutionally accredited by the higher learning commission a member of the north central association of colleges and schools hlc . 31 32 heald college campuses are regionally institutionally accredited by the senior college and university commission western association of schools and colleges wasc senior . 26 everest institute everest college everest university and wyotech campuses are nationally institutionally accredited by one of two national accrediting agencies accrediting commission of career schools and colleges accsc ; or accrediting council for independent colleges and schools acics . 31 32 33 ahlc wasc senior accsc and acics are recognized by the secretary of the united states department of education as reliable authorities concerning the quality of education and training offered by the cci institutions that they accredit . 34 leadership edit corinthian ceo jack massimino earned 3 million in 2010 and four other executives made over 1 million that year . 35 eeva deshon the president and ceo of heald college initiated a petition on change.org to collect positive testimonials about the college despite the largely negative evaluations by students . 35 faculty and students edit as of december 31 2013 cci s total student population was 77 584 . 36 as with the entire education sector cci has faced a decrease in enrollment and a corresponding depressed stock price . cci s top mutual fund holder is wells fargo advantage small cap value fund . 37 as of june 30 2013 cci had approximately 15 200 employees in north america including 6 000 full time and part time faculty members . 4 for five consecutive years cci has been named a top workplace in orange county california where its headquarters are located . 38 in 2014 a librarian at the southern california campus of everest college quit her position when she learned a student she was assisting could only read at the third grade level may have a developmental disability and was unlikely to find work in his chosen field . she stated that the student was unlikely to understand the financial burdens of the enrollment documents he signed . the librarian resigned out of principle after an unsuccessful attempt to resolve the issue with administration . 39 40 financial aid edit the higher education act provides that a private for profit institution such as cci s institutions may derive no more than 90 % of its revenue from the title iv federal student aid programs . 41 in 2010 cci reported that it received 81.9 % of revenue from title iv federal student aid programs . 42 corinthian colleges cci acquired quickstart intelligence in summer 2012 an irvine california based privately held technology training company . as a b2b revenue stream ; cci acquired quickstart intelligence to leverage the 10 % non government funding essential to back the additional student loans for cci s core adult learning programs . student loan default rate a significant requirement imposed by congress is a limitation on participation in title iv programs by institutions whose former students default on the repayment of federal student loans in excess of specified rates cohort default rates . 43 on march 25 2013 cci received a draft three year cohort default rates from the u.s. department of education for students who entered repayment during the federal fiscal year ending september 30 2010 the 2010 cohort measured over three federal fiscal years of borrower repayment . the weighted average of cci s institutions was 19.0 % a 9.0 percentage point decrease from the 28.0 % weighted average for the three year cohort default rate for students who entered repayment during the prior fiscal year . 44 for the 2010 cohort none of cci s institutions exceeded the default threshold set by the u.s. department of education . 44 legal proceedings edit corinthian colleges was investiged in canada and by federal authorities in the united states and by several states attorneys general for deceptive advertising and other fraudulent acts . california edit in 2008 a purported class action suit was filed against cci and a wholly owned subsidiary in santa clara superior court on behalf of graduates of bryman college s medical assistant vocational programs . the lawsuit alleged that bryman made untrue or misleading statements to students related to employment success in order to induce them to