Zeev's Turnips Patch-No Politics (ZEEV)

[AKvetch]

Re Coco, and your comment this morning "...but it may impact cash flow until they resolve it..."

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Corinthian: U.S. move at 1 school 'not material'
June 24, 2004 3:48:00 PM ET

CHICAGO, June 24 (Reuters) - Corinthian Colleges Inc. (COCO) confirmed on Thursday that the U.S. Department of Education found violations in how one of its schools administered financial aid applications.

But the for-profit, post-high school education company also said the action taken by the department -- forcing the Bryman College in San Jose, California to wait for reimbursement of financial aid it gives students instead of receiving it upfront -- was not financially material, spokeswoman Cecilia Wilkinson, said.

Corinthian fired two financial aid officers at Bryman after receiving a report from the education department regarding the findings, she said. REUTERS

© 2004 Reuters