Extended Negotiations Over Corinthian's Phasing-Out

The U.S. Department of Education failed to reach an agreement with Corinthian Colleges on how to sell or close its 107 campuses, the department said Wednesday. The two sides last month agreed to an initial plan, through which the feds released held financial aid payments to the cash-starved for-profit chain. Announcements of that deal said negotiators would finalize the phasing-out arrangements for Corinthian by July 1. The department said yesterday that the plan remained due by that date. Read more...