The first of many?

It looks like Corinthian College is at death's door. It's lost $94,000,000 in the first nine months of the fiscal year and it's cash has dwindled to $28,000,000. It's looking for buyers for 100 schools and will close twelve. Most importantly, the federal government is moving in and pushing for a settlement. The fed supplied $1.4 billion of Corinthian's $1.6 billion revenue last year. 72,000 students will be left in the lurch.