Heald College Fined For Misleading Students About Job Prospects

Heald College, the jewel of a once-thriving chain of for-profit colleges owned by Corinthian Colleges Inc., misled students and accreditation agencies about graduates’ employment rates and showed a “blatant disregard” for the federal student loan program, the U.S. Department of Education alleged Tuesday.

The Education Department said it had found 947 false job placement rates dating back to at least 2010, and slapped Heald with a $29.7 million fine and a ban on enrolling new students. Heald must prepare plans for its thousands of students -- enrolled in health care, business,...