Vatterott College system closes all 15 campuses
ST. LOUIS (AP) - A for-profit college that operates several Midwestern campuses has suddenly closed, citing mounting financial problems.
Vatterott Education Centers closed on Monday. In a letter to students, the suburban St. Louis-based college cited a U.S. Department of Education decision to limit Vatterott's participation in federal financial aid programs.
The St. Louis Post-Dispatch reports that the federal agency's decision doomed a pending sale of most of Vatterott's campuses to another for-profit education company, Education Corporation of America . It also closed its campuses this month.
Vatterott operated 15 campuses specializing in culinary arts, automotive trades, allied health and music production, among other areas. It employed about 950 people.
In November, the Accrediting Commission of Career Schools and Colleges voted to revoke Vatterott's accreditation, ruling that the school failed to demonstrate successful student achievement.