File this story under higher ed bubble.

Blake Neff of the Daily Caller reports.

For-Profit College Closure Could Cost Taxpayers Hundreds Of Millions

More than 16,000 students across the country have found their college educations abruptly ended after for-profit chain Corinthian Colleges abruptly ceased all operations at its 28 remaining campuses over the weekend. The announcement could end up costing U.S. taxpayers millions.

Corinthian’s closure isn’t a huge surprise, as it had been winding down its operations for nearly a year, since the federal government cut it off from federal student loans after accusing it of falsifying its job placement numbers.

However, the shutdown still arrived with almost no warning for the company’s students and employees, and several campuses had continued to enroll new students throughout the chain’s collapse, as the company was attempting to sell off its remaining campuses. Some students appear to have been unaware of just how precarious Corinthian’s position was. Dylan Low, a student at Everest College-Ontario who was three classes away from completing an associate degree in criminal justice, told the Los Angeles Times that “a lot of us are devastated” by the closure.

Now, those students are out of luck. Corinthian said it would try to offer continuing education opportunities for students whose classes have abruptly ended, but acknowledged that those plans “depend to a great degree on cooperation with partnering institutions and regulatory authorities.”