The president of the country’s for-profit college association said school officials have “severe concerns” about an Education Department (ED) report that showed 5 percent of for-profits are in danger of losing access to federal student aid.
For-profit colleges, which have some of the country’s most expansive online learning programs, that have not met any of the federal government’s three “gainful employment” requirements would be cut off from federal aid, which accounts for as much as 90 percent of for-profit schools’ annual profit.
Losing aid would force many colleges or universities to shut down, higher-education officials said.…Read More