A small fraction of eligible students are likely to participate in the Corinthian Colleges' bankruptcy proceedings.
Wall Street Journal (WSJ)
June 23, 2015
Organizations mentioned/involved: Public Counsel
A small fraction of eligible students are likely to participate in the Corinthian Colleges’ bankruptcy proceedings. “If the process goes as it is, maybe 6% of students will file the appropriate papers,” said Mark Rosenbaum of Public Counsel. They said Corinthian hasn’t acknowledged all students as potential creditors and therefore hasn’t reached out every former student. Many students don’t know about the deadlines or understand the urgency of the situation.
Students must file their claim by July 20. Public Counsel created two step-by-step videos to help students understand the process: http://www.publiccounsel.org/pages/?id=0097
“It makes no sense to us to have such a burdensome individualized process,” Rosenbaum said. He wants the bankruptcy court acknowledge all claims from Corinthian students, rather than have each student go through the paperwork on an individual basis.Tags: Education, Workers Rights