From Bloomberg News:
Last summer, Sen. Marco Rubio asked the U.S. Department of Education to “demonstrate leniency” toward Corinthian Colleges by permitting the wealthy for-profit company to continue accessing millions of dollars in federal financial aid while it was cooperating with a federal investigation.
Ten months later, the company shuttered its remaining 28 campuses, instantly displacing some 16,000 students just days after it was fined $30 million by the Department of Education for a scheme involving “confirmed cases of misrepresentation of job placement rates” for as many as 947 students. The decision to close shop came after years of federal and state investigations into the company.
The top-tier Florida Republican presidential candidate had made his plea in a letter — obtained by Bloomberg Politics — dated June 20, 2014, and addressed to Jim Shelton, the deputy secretary of education, and Ted Mitchell, the undersecretary for post-secondary education.
“It has been brought to my attention that the U.S. Department of Education has recently placed extreme financial constraints on Corinthian Colleges, Inc. by restricting the company’s timely access to federal financial aid. It is my understanding the Department of Education has requested extensive documents be provided by Corinthian Colleges for review, and Corinthian has acted in good faith to try to provide these documents as expeditiously as possible,” Rubio, R-Fla., wrote.