Wyotech is under new ownership as Zenith Education purchased the school, along with 55 other campuses in 17 states, from Corinthian Colleges Inc. last week.
Corinthian Colleges Inc. was a for-profit operator with many campuses nationwide including Laramie’s Wyotech. As a result of a range of financial and regulatory challenges, the business sold off several campuses to stay afloat. As of now Corinthian Colleges has parted with 56 of their 107 campuses across the nation.
For John Dallus, a sophomore studying diesel mechanics technology at Wyotech, the change in ownership is unsettling.
“It is a bit unnerving hearing about what’s been happening to college these last couple months,” Dallus said. “Going to class and wondering if the college is even going to be here next year or the year after.”
Jack Massimino, chairman and CEO of Corinthian Colleges, said in an interview with the Wall Street Journal that students at Wyotech may benefit from the change.
“Everest and WyoTech students will benefit greatly from ECMC Group’s commitment to students and its goal of making a positive difference in career education,” Massimino said. “ECMC will focus significant resources on student programs and services and enhance the future prospects of Everest and WyoTech.”
Corinthian offers post-secondary education through its Everest, Heald College and WyoTech campuses, as well as online classes. Program areas include healthcare, business, criminal justice, transportation technology and maintenance, construction trades and information technology.
According to the Wall Street Journal, the group plans to overhaul the schools by cutting tuition by 20 percent for new students at most Everest programs and awarding students millions of dollars in grants each year to reduce reliance on private loans. They also hope to improve job placement for students and accountability for program completion.
The ECMC Group plans to oversee the direction and management of this action plan through its newly launched education subsidiary, the nonprofit Zenith Education Group, run by a new executive team and operating according to a new set of standards for business ethics, enhanced student educational experience and employee conduct.
Zenith Education is a nonprofit organization and an affiliate of the ECMC Group. ECMC plans to take over the campuses after the deal closes in January 2015.
The U.S. Department of Education will need to approve the final sale of the schools. Upon completing the acquisition, ECMC Group will begin making major changes to the current model in four core areas: affordability, accountability and transparency, improved job placement and individualized support.
Dallus hopes that the sale will bring stability to Wyotech.
“Hearing they got bought out has helped and hopefully brings stability to the campus’s future,” Dallus said.
