Everest College was a system of colleges in the United States, and with Wyotech, made up Zenith Education. It was until 2015 a system of for-profit colleges in the United States and the Canadian province of Ontario, owned and operated by Corinthian Colleges, Inc. In 2021, former Everest students were made eligible for automatic student loan debt relief through the US Department of Education.
History
In 2010, Corinthian Colleges consolidated a number of schools under the Everest brand name. Former schools that became Everest Colleges include: Bryman College, Ashmead College, Florida Metropolitan University, Olympia College, Kee Business College, Parks College, Western Business College, Blair College and Springfield College. In December 2009, Corinthian Colleges, Inc. (CCi) re-branded their campuses as Everest College and sold the remaining campuses. Eminata Group.
In Milwaukee, Wisconsin, where a Corinthian Everest campus was financed with $11 million in city bonds, 25% of students found jobs and over half dropped out; the campus closed in 2012, two years after it opened.
The diplomas issued by Everest College were described as worthless as many graduated students found no job placement, the reputation tainted.
The Ontario government stepped in and shut down 14 Everest College of Business, Health Care and Technology campus locations owned by Corinthian Colleges on February 19, 2015. The next day, Everest College declared bankruptcy.
In February 2015, Educational Credit Management Corporation's subsidiary Zenith Education Group acquired 56 Everest College and WyoTech campuses from Corinthian. Zenith planned to transition the schools from for-profit to nonprofit status. It also planned to eliminate some programs with poor completion and job placement rates. Campuses with little to no revenue along with the 15 Everest campuses in California, which were not acquired by ECMC, closed their doors for good when Corinthian Colleges shuttered all of their remaining campuses on April 27, 2015.
In March 2016, the US Department of Education fired Everest College's monitor, Hogan Marren Babbo & Rose Ltd., implicating several conflicts of interest. The State of California was also awarded $1.1 billion from Corinthian Colleges for false advertising and predatory business practices. The judge ordered restitution of $820 million for students.
A 2016 Associated Press investigation alleged that Everest still recruits through telemarketing, has yet to make significant changes to its shoddy curriculum. Recent graduates also reported being unable to find work that would allow them to pay their student loans.
Funding
Approximately 96% of Everest's funds come from the US government. In 2016, ECMC, Everest's parent company, provided an infusion of capital to keep the schools running.
Accreditation
Accreditation for Everest College varies by country, state and region. Everest College campuses that are regionally accredited are Everest College Phoenix, Everest College Mesa and online courses taught through Everest College Phoenix. All other Everest College campuses are nationally accredited.
Generally, credits from nationally accredited institutions are not transferable to other colleges and universities.
In 2009 Everest College Phoenix was placed on academic probation by its accrediting body over concerns that it did not have enough autonomy and control over on-campus academics and operations from the parent company, Corinthian Colleges, Inc. In September 2010, the North Central Association of Colleges and Schools rejected a recommendation from its evaluation panel that the school's accreditation be revoked outright. In November 2010 the Higher Learning Commission voted to place the campus on a "Show-Cause" status which will require the College to demonstrate to the commission why its accreditation should not be revoked. Everest College Phoenix had until March 2011 to respond to the request and the matter was not expected to be resolved until November 2011. The College remained an accredited institution during this period.