![]() ![]() The school's enrollment steadily fell over the past few years, from a high of 4,701 students in 2016 to 2,945 in 2020, according to federal data. "The reason we did that is to make sure we had all the financial resources at our disposal to make sure the students currently enrolled in school get exactly what they paid for," Tolbert told KBTX. Tolbert told a local media outlet in early August that the school decided to suspend enrollment after seeing large decreases. Prospect Partners, a private equity firm, owns a majority stake in the company, while Vista College CEO and founder Jim Tolbert owns the remaining 16.7%. It estimates it has between 200 and 999 creditors. Department of Education also recently reestablished an enforcement office within the Federal Student Aid division to strengthen oversight of all colleges receiving federal student aid.Įducation Futures Group, Vista College's owner, has assets worth between $1 million and $10 million and liabilities totaling $50,000 or less, according to court documents. The FTC did not accuse the schools of wrongdoing. Last week, the Federal Trade Commission warned 70 of the largest for-profit colleges they would face hefty fines if they made misleading claims. #CHAIN CHRONICLE CRACK CRACK#It also comes as the Biden administration prepares to crack down on the for-profit sector. In late 2018 and early 2019, three major for-profit chains shuttered nearly overnight, leaving tens of thousands of students scrambling to adjust their college plans. ![]() The school's closure marks the latest for-profit college to shut down without much warning. Some are unsure where they can finish their degrees or weren't given the opportunity to complete their certification exams - even though the school promised to pay the fees for those tests. The chain's sudden closure blindsided students, according to local media reports. Its programs span healthcare, business, information technology and criminal justice. Vista College has several campuses in Texas, as well as sites in New Mexico and Arkansas. ![]()
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