On the verge of closing down, the technical school WyoTech has been bought and will now become a non-profit college. Last week, Zenith Education Group acquired the school and 50 others. The move comes after scandals at WyoTech’s previous owner, Corinthian Colleges forced the company to sell off many of its campuses. .
As part of the deal, Zenith says they’ll provide debt relief to past and present students. Students who borrowed under Corinthian’s “Genesis Loan Program” will see a 40% drop in their principal balances. Caleb Perriton is WyoTech’s Director of Education and says the sale comes with some relief for the future of the school.
“There wasn’t a day or two where folks around campus thought “Boy, is Wyotech gonna be here? Are the doors gonna get locked? Are the light going to get turned off?” And the great news in all this is we can definitively say no that’s not happening. We will persist, and we can continue to benefit the lives of our students and provide quality technicians to the industry.”
WyoTech will now be part of the largest non-profit career college system in the nation.