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Future uncertain for California students in college campus sell-off




SAN FRANCISCO, CA - OCTOBER 10:  California Attorney General Kamala Harris points to a map as she speaks during a news conference on October 10, 2013 in San Francisco, California. Harris announced the filing of a lawsuit against the for-profit Corinthian Colleges and its subsidiaries for alleged false advertising, securities fraud, intentional misrepresentations to students and the unlawful use of military insignias in advertisements. Santa Ana, California-based Corinthian Colleges operates 111 total campuses in North America with 24 Heald, Everest and WyoTech colleges in California that have an estimated 27,000 students.  (Photo by Justin Sullivan/Getty Images)
SAN FRANCISCO, CA - OCTOBER 10: California Attorney General Kamala Harris points to a map as she speaks during a news conference on October 10, 2013 in San Francisco, California. Harris announced the filing of a lawsuit against the for-profit Corinthian Colleges and its subsidiaries for alleged false advertising, securities fraud, intentional misrepresentations to students and the unlawful use of military insignias in advertisements. Santa Ana, California-based Corinthian Colleges operates 111 total campuses in North America with 24 Heald, Everest and WyoTech colleges in California that have an estimated 27,000 students. (Photo by Justin Sullivan/Getty Images)
Justin Sullivan/Getty Images

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The nation's for-profit colleges are reeling from a series of crackdowns by federal and state regulators.

Most of these colleges get almost all their revenue from public funds - loans and grants students use to pay tuition.

Government officials say they make grand promises to students, and then fail to prepare them for real-world jobs.

One of these for-profit schools, Orange County-based Corinthian Colleges, may be close to collapse.

Last week, Corinthian announced a deal to sell off its campuses in other parts of the country.

That leaves an uncertain future for about 20,000 students in California.

Rachael Myrow reports from KQED's Silicon Valley newsdesk.