Timeline of Events
The organization was founded as The Chubb Institute, with medical training added later.
The new owners struggled to rescue the chain at first. Facing a loss of $9 million in 2005, they invested millions and renamed several of the poorer performing schools.
Struggling with lawsuits and challenges to accreditation, Banner College in Virginia closed in August 2008 after ten years of operation there.
The company changed hands again, coming under the ownership of the Education Training Corporation in Florida
The following statement was released in the Milwaukee area: “Due to an extended period of financial difficulty, Anthem Education has made the difficult but necessary decision to close several of its facilities on August 22, 2014…”
Facing lawsuits and financial losses, Chubb Corporation put the school for sale in 2004 and eventually sold it for $1 to a partnership of private equity firm Great Hill Partners and the High-Tech Institute. Chubb Corporation recognizes $33 million loss.
The location in Chicago had been renamed to Banner Institute in January 2006, and the location in Arlington, Virginia, had been christened Banner College.
The colleges were being operated by the Anthem Education Group, a company owned by Great Hills Partners.
The group operated 8 brands, including Anthem College, Anthem College – Bryman School, Anthem Career College, Florida Career College, FCC Anthem College, Anthem College Online, Anthem Institute, and Morrison University.
In cases of for-profit school closures: There are several Obama student loan forgiveness programs available that you may qualify for.
If you attended Anthem College, regardless of when you attended, you may qualify for partial or even full Anthem College loan forgiveness.
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