U.S. Department of Education and White House Kills Off Corinthian Colleges

Well that $30 million fine was just enough to destroy the lives of 16,000 students.

Corinthian Colleges will shut down all of its remaining 28 ground campuses, displacing about 16,000 students, less than two weeks after the U.S. Department of Education announced it was fining the for-profit institution $30 million for misrepresentation.

In a statement Sunday, the Santa Ana, California-based company said it was working with other schools to help students continue their education. The closures include Heald College campuses in California, Hawaii and Oregon, as well as Everest and WyoTech schools in California, Arizona and New York.

I say destroy the lives because people that go to these colleges probably don't have the resources to get a degree at the Universities that the White House wants them to. For many students this will effectively end their shot at a college degree. They now either have to go into debt slavery to earn a degree (I still don't understand how student loans are at 4.66% while 20 year fixed mortgages are 3.625%) or maybe go on the dole. Maybe that is the White House plan to get everyone in debt to the government either through student loans or put on the dole?

This also shows the power of the US Government when they took over nearly all student loans in America with a stealth amendment to Obamacare. They effectively ran a company out of business. Then they pinch off any chance they have of being bought out with a huge fine and shutting off the student loan spigot. If banks were still involved in student loans then Corinthian might have been able to save itself. Instead the Government effectively took away the chances of 16,000 people to earn a degrees.

That's why I cannot wait until Obama is out as President. Hillary is pro-business as far as I can tell and the GOP seems that way as well. So if either person wins we won't have a White House so hostile to business interests in this country for the next 4 years.