College that abruptly announced its closure now leaves students with a tough decision

Students at the now-defunct Corinthian College system have a tough decision to make in the upcoming days. Since the college unexpectedly shut down halfway through the semester, any students currently enrolled may be eligible for a full discharge of their loans.

But this option only exists for students who forego the option to transfer their credits to another college and start their education all over again.

Heald College student Ashton Harris got this news at a Heald meeting set up to explain student options on Thursday. He showed up to the meeting expecting advice and student support options. But it was mostly just a forum for students to pick up their transcripts, said Harris, who attends a Heald campus in Honolulu, Hawaii.

To be sure, other colleges such as the University of Hawaii Manoa showed up to the meeting to let Heald students know they could apply to the school without even paying an application fee. But that would be no guarantee of admission, according to Harris.

More worrisome for Harris, if he decides to transfer he runs the risk of not having many of his credits transfer. That would equate to "pretty much going to the other school as a freshman." What's more, he'd have to take out additional loans to attend his new school.

The decision that Harris faces is not unique. Roughly 16,000 students were enrolled at Corinthian schools and are now left to fend for themselves as they determine the best next steps to chose.