Great news: for-profit college Corinthian to close
I’ve talked before about the industry of for-profit colleges which exists largely to game the federal student loan program. They survive almost entirely on federal student loans of their students, while delivering terrible services and worthless credentials.
Well, good news: one of the worst of the bunch is closing its doors. Corinthian College, Inc (CCI) got caught lying about job placement of its graduates (in some cases, they said 100% when the truth was closer to 0%). They were also caught advertising programs they didn’t actually have.
But here’s what interests me the most, which I will excerpt from the California Office of the Attorney General:
CCI’s predatory marketing efforts specifically target vulnerable, low-income job seekers and single parents who have annual incomes near the federal poverty line. In internal company documents obtained by the Department of Justice, CCI describes its target demographic as “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.”
I’d like to know more about how they did this. I’m guessing it was substantially online, and I’m guessing they got help from data warehousing services.
After skimming the complaint I’m afraid it doesn’t include such information, although it does say that the company advertised programs it didn’t have and then tricked potential students into filling out information about them so CCI could follow up and try to enroll them. Talk about predatory advertising!
Update: I’m getting some information by checking out their recent marketing job postings.