I read of Connecticut Broadcasting School’s close on Facebook when Geoff Fox posted a update. I really didn’t understand the enormity of the situation. I thought that this was a single school with 50 students who no longer could operate. I just came across the story from WJLA – the ABC affiliate in Washington, DC. JLA reports that CT Broadcasting School operated 26 separate campuses in 16 different states. Geeze, I’m kinda shocked I’ve never heard of them.

The worst part of the story is how the students got treated. Apparently an email was sent to the students after finding the all the doors locked.

…said the school is closed. They’ll be no class until further notice [and to] contact the corporate office.

Wow. Some kids were only weeks away from graduation and won’t be able to get their diploma. The tuition was $12,000 and they won’t even get that back!

The school blames the closing on tightening private student loan markets. The school’s lender, Pittsburgh-based PNC Financial, seized control of all the school’s accounts. This rendered the school unable to proceed.

There is no good way to resolve this. I just sat thinking for 10 minutes on how I’d handle this and I didn’t come up with anything. I guess that’s why I’m not a college president.