“Anthem Bows Out”
“After years of enrollment losses, Anthem Education, a for-profit chain of colleges and career institutes, filed for bankruptcy Monday. The company has abruptly shut down a number of its campuses, leaving state agencies struggling to funnel displaced students into other institutions. Nine more campuses may close today, Anthem officials said.”
“Anthem had 41 campuses prior to declaring bankruptcy, according to its bankruptcy petition. Before it filed for bankruptcy the company sold 14 campuses to International Education Corporation, said an official involved in the acquisition. Anthem is in the process of selling an additional 14 campuses to IEC, but requires federal approval to do so. Unless the U.S. Department of Education approves the transaction by today, nine of those 14 campuses will close, Anthem officials said.”
Read the rest here: https://www.insidehighered.com/news/2014/08/29/profit-anthem-education-abruptly-closes-campuses-after-filing-bankruptcy
For profit education is an integral part of the makeup of higher education, like it or not. We should not be cheering when hundreds of people lose their jobs, and when thousands of students lose their school.
I am still longing for the day when all sectors of education are working together for the mutual benefit of the students.
Dr Flavius A B Akerele III