Career Education Corp

A state consumer agency has threatened to shut down the Brooks Institute of Photography, a well-known school with campuses in Santa Barbara and Ventura, for allegedly lying to students about the amount of help they could expect from the school in finding jobs and about the amount of money they could make.

Shares of Corinthian Colleges Inc. plunged Tuesday after the operator of career training schools said Sallie Mae and two other lenders halted private loans for students with higher credit risks. High risk, or sub-prime, loans accounted for about 75% of Corinthian's student loan portfolio in the fiscal year ended June 30, the Santa Ana-based company said in a regulatory filing. Corinthian's stock suffered its biggest drop in more than three years on the news, falling $3.34, or almost 31%, to $7.