As a result of the United States Department of Education fining Corinthian Colleges US$30 million for misrepresentation, the remaining 28 ground campuses are set to shut down, with as much as 16,000 students to be displaced by the action.

As of Monday, Corinthian Colleges will be shutting down their remaining campuses. The news comes two weeks after the Department of Education fined the for-profit institution for misrepresenting themselves.

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The Education Department states that Corinthian Colleges failed to provide requests that were supposed to address the allegations of falsifying job placement data, the altering of grades, and even attendance records.

The campuses to be closed include Heald College campuses in California, Hawaii, Oregon, and even Everest and WyoTech schools in New York, Arizona, and California.

In order to help their remaining students, the Santa Ana company based in California said it reached out to other schools in order to continue the education of the displaced students.

Corinthian Colleges was one of the country's largest for-profit school organizations. The demise began last summer with reports of cash shortage and fraud as well.

For years now, for-profit school organizations have been under close scrutiny by the government. One of the main worries of the government is that the organizations place profit ahead of student achievements.

Students are also beginning to come forward and complain, saying that the diplomas they are earning do not even allow them to get a job. Instead, they are left with a large amount of student debt and no real way of earning money to pay it back.

Since 2010, a government crackdown has revealed that institutions such as Apollo Education Group and Strayer Education have tried to attract more students. However, the investigation has also revealed that there have been low graduation rates and even little to no employability for graduates.

These for-profit organizations found their stride recently when the recession came up. Both young and old flocked to these schools in order to bolster their credentials in the hopes of coming up with a job.

TagsCorinthian Colleges, Shutdown, Misrepresentation, for-profit schools