A proposal for tougher standards in the for-profit college sector has sent shares of the predominantly-online institutions tumbling, and for-profit school officials are lobbying the U.S. Education Department (ED) to reconsider a new set of regulations that could kick into effect soon.
Several analysts have sounded warnings in recent weeks, concerned about for-profit colleges’ ability to sign up new students and access government-backed financial aid due to increased scrutiny.
Apollo Group Inc., which owns the University of Phoenix, the country’s largest for-profit higher education chain, said that ED is launching a review of how Phoenix administers federal financial aid.…Read More