University of Phoenix Faces Government Financial Aid Review - Higher Education

Higher Education News and Jobs

University of Phoenix Faces Government Financial Aid Review

Email

   



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.

RELATED ARTICLES >>
Duke University President to Step Down in 2017 DURHAM, N.C. ― Duke University President Richard H. Brodhead has announced that he will step down from his post in June 2017. A statement from the school said Brodhead spoke to the board of trustees and the academic council on Thursday to discuss ...
NCAA Board OKs Anti-discrimination Measure for Event Bidding   INDIANAPOLIS ― The NCAA Board of Governors adopted an anti-discrimination measure Wednesday that would affect the way the governing body evaluates bids to host sporting events. The NCAA said the decision came during the board's quarterly...
UND Eliminating 138 Positions to Meet Budget Allotments FARGO, N.D. ― The University of North Dakota plans to eliminate 138 faculty, staff and administration positions to help meet budget cuts ordered by the governor, the school’s interim president told state Board of Higher Education members Thursday. ...
Kansas State University Asked to Examine Off-campus Rapes MANHATTAN, Kan. ― Kansas State University fraternities are calling on the university to begin investigating episodes of alleged sexual violence that occur off campus. The university's Interfraternity Council unanimously approved a resolution Monda...
Semantic Tags:

Leave a Reply

Your email address will not be published.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