Corinthian Colleges Inc. shut down its remaining 28 for-profit career schools, ending classes for about 16,000 students, in the biggest collapse in U.S. higher education.

All campuses are closed effective Monday, Corinthian said in a statement Sunday. The company, which owns the Everest, Heald and WyoTech schools, said it will work with other colleges to try to place the students.

Corinthian fell apart last summer after the U.S. Education Department curtailed its access to federal student aid. In November, the Santa Ana, California-based company agreed to sell half of its 107 campuses to Education Credit Management Corp., a nonprofit organization specializing in student debt collection, amid allegations that Corinthian falsified grades, attendance and job-placement rates.


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