(07:46) SAN FRANCISCO – The for-profit higher education system Corinthian Colleges Inc. has been ordered to pay over $1 billion in restitution and civil penalties. Last spring, the company filed for bankruptcy and shut down all its Heald, Everest and Wyotech campuses. The closures impacted tens of thousands of students. This week, a San Francisco Superior Court judge ruled that Corinthian engaged in false advertising, illegally collected debt and misrepresented its financial well-being. Around $80 million of the penalty will go towards relieving students from private loans and recovering tuition payments. (S.G.)
