The provincial government shut down all 14 locations on Thursday after deciding it couldn't be counted on to be financially responsible, according to a statement by the superintendent of private career colleges.
Friday, the chain's American parent company, Corinthian Colleges, said Everest College was forced to file for bankruptcy by the government's decision.
"We are extremely disappointed that the Ministry has taken these abrupt actions," Corinthian chairman and CEO Jack Massimino said in a statement.
"Our Canadian subsidiary had been working with the Ministry for an extended period of time with the goal of achieving a satisfactory outcome for students, employees and other stakeholders in Canada."
Along with the students, around 450 former Everest College employees are out of work across the province.
Other colleges taking students
Other schools are coming forward to offer what they can to help some 2,450 students who had put in time and money, only to have their school close.
Herzing College has locations in Toronto and Ottawa and said it's taking in students without transcripts and in some cases, without tuition.
"When you see 20 or 25 emotional people, that starts pulling at your heart strings as well," said Dave McCormick, campus president of the Ottawa location.
Ottawa's Algonquin and Willis colleges say they'll be holding information sessions for former Everest College students as well.
Canada's National Association of Career Colleges said it will mark some Everest College exams while taking calls from students and lobbying the province for more information.
"I think the main concern right now is not the question of whether or not there will be support; the question is when will it be communicated to students and how will it be communicated to the students?" said Serge Buy, CEO of the NACC.
Ontario's minister of training, colleges and universities said in a statement Friday evening that the government's priority is helping students and staff.
"Over the next few days, the Superintendent, supported by Ministry staff, will work to assess student access to training completion opportunities or refunds, depending on student choice," said Reza Moridi.
"The Superintendent and Ministry staff will do everything they can to facilitate training completions. The government is also committed to helping displaced workers and affected communities get back on their feet as soon as possible."
For more of the reaction to the chain's sudden closure, watch the story from CBC Ottawa's Ashley Burke in the video player.