SACRAMENTO (CBS13) — Former Corinthian Colleges students are being warned by federal education officials to keep an eye on their bank accounts.
The Federal Student Aid Office says if students experience unauthorized withdrawals from their accounts, they need to contact their bank and the authorities.READ MORE: Video Released Of Fatal Officer-Involved Shooting Of Tahoe Park Resident Who Shot At Authorities
Corinthian had been teetering financially in recent years. That accelerated starting at the end of June when the state suspended GI benefits going toward the schools. The school reached an agreement with the feds closing 12 campuses in July, but that was far from the end.READ MORE: Coroner Identifies Passenger Killed In Wrong-Way DUI Crash On Highway 99
In August, CalVet followed its suspension by pulling funding for student veterans attending Corinthian College.
In November, Corinthian sold off 68 campuses to ECMC Group for $24 million amid several investigations and lawsuits by federal and state regulators.MORE NEWS: Looting Suspect Accused Of Dozens Of Thefts Arrested In South Lake Tahoe
The remaining Corinthian Colleges campuses, including Heald, Everys and WyoTech, shut down on April 27, less than two weeks after the U.S. Department of Education issued a $30 million fine for misrepresentation. The department claims the colleges didn’t address allegations of falsifying job placement data and altering grades and attendance records.