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Vista College

Vista College was an American for-profit post-secondary school based in El Paso, Texas.

History

Vista College was founded in 2006 by Jim Tolbert.1) He formed a company called Education Futures Group in partnership with Prospect Partners in order to run the college.2)

COVID-19

In July 2021, Wintrust Bank informed the school's owners that they would not be renewing the company's loan. In August 2021, the school suspended in-person enrolment and employees working at locations across Texas were furloughed.3)

The school and all of its locations permanently closed on October 8, 2021.4) The company's owners filed for bankruptcy on October 11, 2021.5)

In June 2022, the Debt Collective informed Vista students that it had purchased and eliminated their outstanding debt through their Rolling Jubilee Fund. In a letter to students, the group told students they believed Vista College may have committed widespread fraud targeting “low-income people and also people of color—so they could put them into lifetimes of crushing debt for their own profit.”6)

Organization

Notable alumni

Name Program Notes
Nima Momeni - Arrested April 13, 2023 on suspicion of murdering Bob Lee7)

Investors

1) , 3)
Surette, R. (2022, June 27). Founder, former CEO of Vista College explains what led up to school’s closure. KBTX. http://archive.today/2023.04.05-193407/https://www.kbtx.com/2022/06/27/founder-former-ceo-vista-college-explains-what-led-up-schools-closure/
2)
Home. Education Futures Group. Retrieved November 28, 2021, from https://web.archive.org/web/20211128234007/https://educationfuturesgroup.com/
4)
Information on the Closure of Vista College. (2021, December 7). Texas Higher Education Coordinating Board. https://web.archive.org/web/20230413224819/https://reportcenter.highered.texas.gov/agency-publication/miscellaneous/information-on-the-closure-of-vista-college/
5)
Education Futures Group, LLC. (2021). Voluntary Petition for Non-Individuals Filing for Bankruptcy 04/20 - Case 21-11326-JTD. United States Bankruptcy Court. https://web.archive.org/web/20230413225408/https://s3.documentcloud.org/documents/21083542/vista-college-chapter-7.pdf
6)
Sheffey, A. (2022, June 24). Activists just wiped out nearly $16 million in private student loans for students who attended a now-defunct for-profit college. Business Insider. http://archive.today/2023.04.13-231658/https://www.businessinsider.com/private-student-loans-wiped-out-vista-college-debt-2022-6
7)
Entrepreneur arrested in murder of Bob Lee knew Cash App founder, police say. (2023, April 13). ABC7 San Francisco. https://web.archive.org/web/20230413212810/https://abc7news.com/bob-lee-arrest-nima-momeni-cash-app-founder/13121930/
8)
Schwartz, N. (2021, October 12). For-profit chain Vista College closes abruptly, files for bankruptcy protection. Higher Ed Dive. https://web.archive.org/web/20221225024651/https://www.highereddive.com/news/for-profit-chain-vista-college-closes-abruptly-files-for-bankruptcy-protec/608090/
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