Orange County Business Journal

Corinthian Partners with Security Services Firm for Grad Jobs

Kari Hamanaka Wednesday, June 22, 2011

Vocational school operator Corinthian Colleges Inc. has made another pact with a national employer to help graduates nab jobs.

Santa Ana-based Corinthian's new agreement with Los Angeles security services company Andrews International LLC will offer its Everest Colleges graduates job information and interview opportunities.

Corinthian has about 100,000 students attending more than 100 campuses operating under the Everest, WyoTech and Heald College brands in the U.S. and Canada.

The for-profit school operator offers associate degrees in information technology, healthcare, automotive and other industries.

Corinthian’s agreement with Andrews International follows a number of other pacts it made with employers in March offering graduates job placement opportunities.

Other agreements Corinthian made earlier this year include those with Connecticut's Skip Barber Racing School LLC, Arizona waste management company Republic Services Inc, Swiss professional staffing company Adecco SA and automotive parts retailer Pep Boys-Manny, Moe & Jack of Philadelphia.

The partnerships with employers were seen as a way for the school to improve its image after it and other for-profit operators received heavy criticism for the high percentage of loan default rates carried among its students amid limited job prospects for graduates.

Corinthian and other schools faced potentially crippling regulations from the Education Department that would have changed rules governing the allocation of Pell grants, key sources of tuition.

New regulations issued earlier this month give schools more time to adjust to the new regulations governing loan repayments and student debt levels.

Corinthian and others now have until 2015—instead of 2012— to be in compliance with the new rules.

School will continue to have access to federal student loans as long as 35% of former students are making payments on the loans and loan payments cannot be more than 12% of a former student’s earnings.