2 For-Profit Higher-Education Companies Will Close Campuses

By Brock Read. The Education Management Corporation, a for-profit higher-education company beset by layoffs and debt, will shut down 15 of its Art Institute campuses, the company disclosed on Wednesday.
The closures are the latest in a long line of indicators of EDMC’s precarious financial position. As of last summer, the company’s debt payments were outpacing its revenue; EDMC has already conducted several rounds of layoffs and sold its Art Institute of Pittsburgh building. More...