University of Phoenix Faces Government Financial Aid Review

Category: More headlines |
         Email
Print Friendly

by Associated Press

NEW YORK ― Apollo Education Group said the U.S. Department of Education will review the administration of federal student financial aid programs by its University of Phoenix subsidiary.

The for-profit education company said Monday that the government review, which is scheduled to start Aug. 4, will initially cover the 2012-13 and 2013-14 years. The review will also cover the University of Phoenix’s compliance with laws governing campus security and crime statistics and drug policy. The university has about 241,900 students.

The Department of Education did not immediately respond to a request for comment.

Enrollments at for-profit education companies boomed during the recession, but demand is sliding and government scrutiny of the industry has intensified.

Another for-profit education company, Corinthian Colleges Inc., this month agreed to close or sell more than 100 campuses in the U.S. and Canada after the Department of Education had stepped up its financial monitoring of the company. The Education Department said Corinthian failed to provide adequate paperwork and didn’t comply with requests to address concerns about the company’s practices. The department said the concerns included allegations of falsifying job placement data used in marketing claims to prospective students, and allegations of altered grades and attendance.

Shares of Phoenix-based Apollo Education Group Inc. dropped $1.72, or 5.8 percent, to $27.85 in aftermarket trading Monday.

Semantic Tags:

Related articles

Stage Set for Showdowns Over Potential Contraction of HBCUs

Veteran Out-of-State Tuition Row Intensifies

For-Profit Colleges to Sell Most Campuses

For-Profit College Company Doesn’t Seal Deal With Feds

Corinthian Colleges Warns It May Shut Down

Pa. Education Firm Lawsuit to Proceed

Report: For-profit Schools Likened to Subprime Mortgage Lenders

For-profit Colleges Haul in Government Aid

Recent Tweets From Diverse

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>



Close
JOIN THE CONVERSATION!
Join the conversation with our 30,000 social media participants by following us on Twitter @DiverseIssues and like us on Facebook at https://www.facebook.com/DiverseJobs as we celebrate the 30th anniversary of Diverse: Issues in Higher Education.