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Home > News > News Releases > Minnesota Students Able to Complete Program at Closing Everest Institute

 

Minnesota Students Able to Complete Program at Closing Everest Institute

7/14/2014


 

Contact: Sandy Connolly, Director of Communications
Office of Higher Education
(651) 259-3902

St. Paul, MN -- The Minnesota Office of Higher Education (OHE) is taking steps to protect Minnesota students enrolled in any of the Corinthian colleges, which recently announced they are either selling or closing each of their 107 campuses.

It is estimated that approximately 300 Minnesota students attend one of four Corinthian colleges: Everest Institute in Eagan, Everest College and Everest University, which are both online institutions, and WyoTech, which solicits Minnesota students to enroll in campuses in other states.

All are slated for sale except Everest Institute in Eagan, which will be closed.

"Our office is working with the U. S. Department of Education and Corinthian Colleges to help facilitate what could be a challenging transition for Minnesota students," said Commissioner Larry Pogemiller. "We are encouraged that students currently enrolled at Everest Institute have the opportunity to complete a "teach out," which means they can finish their program. We have also taken steps to prevent Corinthian from enrolling any new Minnesota students."

In June of this year, the U. S. Department of Education placed Corinthian on "Heighted Cash Monitoring 1" status, requiring a 21-day waiting period for the school to draw down Title IV funds from the Department of Education. During this time, Corinthian was unable to secure a line of credit or financing to cover their cash flow shortfall, and in July, announced it would sell or close its institutions.

If you have any questions, contact Sandy Connolly at 651-259-3902 or by email at sandy.connolly@state.mn.us.