Dozens of Charter Collapse

December 11, 2018 - por

A charter school chain, Education Corporation of America, has abruptly collapsed in dozens of locations nationwide, leaving roughly 20,000 students in the lurch and worried about their outstanding loans and sunk costs. Project on Predatory Student Lending Director Toby Merrill “says students can ask the U.S. Department of Education to cancel loans if a school closes.” MarketWatch reported yesterday that “just this week, Virginia College, one of ECA’s major subsidiaries, had its accreditation, a seal of approval required for a school to receive access to federal financial aid dollars, suspended. The school was accredited by the Accrediting Council for Independent Colleges and Schools, a controversial gatekeeper that oversaw other for-profit colleges accused of misleading students. ‘Their shutdown can only be said to be caused by their own malfeasance,’” said Merrill.