Downsizing For-Profit Colleges
For-profit college giant Career Education Corporation (CEC) recently announced that it will close 23 of its 90 campuses, according to the Bay Citizen. The move comes in response to a $33 million decline in revenue and 23% drop in new student enrollment this quarter and will result in the loss of 900 jobs. Other for-profit colleges have also announced downsizing in response to declining revenues, including University of Phoenix and Corinthian.
CEC has not yet stated which of its 6 California campuses will be closed. CEC owns the California Culinary Academy in San Francisco and the Cordon Rouge culinary schools in Southern California, as well as the International Academy of Design and Technology in Sacramento.
According to Kevin Kinser, professor of higher education policy at the University at Albany, SUNY, the wave of closures and downsizing at for-profit colleges is due in part to tighter
