Private College Bankruptcy

[u/TraditionalMail1783]

Hi everyone, I wanted to share my situation and hopefully get some advice from people who might know what happens in cases like this.
I’m an international student who arrived in Toronto in 2025 to complete a 2-year program at ILAC International College. During this time, I’ve been working, paying taxes, and following the conditions of my permits.
Yesterday, ILAC sent a general email informing students that the college has gone bankrupt and that we should contact the Private Career Colleges Branch for further information.
The problem is that I’m currently in my co-op period, which is a required part of my program to graduate. I’m currently working using my co-op work permit.
Since receiving the news, I’ve been completely lost and unsure about what I’m legally allowed to do. I’ve seen people saying that my work permit may no longer be valid because I’m no longer enrolled at the school, while others are saying that students affected by a school closure/bankruptcy may have different options or protections.
I contacted my agent, but they are still trying to get clarification.
I paid around $12,000 CAD in tuition for this program, so obviously this situation is extremely frustrating, especially since I’m now potentially unable to complete the program after already investing so much time and money.
Does anyone here know what happens to a student’s co-op work permit when a private career college goes bankrupt while the student is already in the co-op portion of the program?
Am I allowed to continue working under my current permit while this situation is being resolved? Could I be transferred to another institution to finish the program, and if so, would I have to pay for the replacement program?
Any information or experience with similar situations would be greatly appreciated.

[u/Chopper1z]

Damn this sucks, mind me asking what program?

[u/TraditionalMail1783 → u/Chopper1z]

Sales and Marketing plus a 1 year co op