Failing For-profit Schools and the Debt Collector

How dozens of failing for-profit schools found an unlikely savior: a debt collector - The Washington Post: "... “ECMC doesn’t have any experience operating an educational institution. And it’s buying an institution that is having major problems and offering a very questionable education. Is [ECMC] in a position, without any kind of experience, to improve a failing school?” said Robyn Smith, a lawyer at the National Consumer Law Center, which represents student borrowers. ECMC plans to run the schools under Zenith Education Group, a subsidiary separate from its debt collection practice. Asked whether his company was a suitable choice to acquire Corinthian campuses, ECMC President David Hawn said its experience collecting defaulted loans has given the company “firsthand understanding what coming out of school with high debt and low job prospects does to a student."...."

more education news below

Follow @eSummaCom