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 >>
Criminal Record Cleared for BYU Student Accused of Groping PROVO, Utah ― The criminal record of a Brigham Young University student accused of groping women while he jogged on campus has been cleared after he completed terms of a court diversion program. The Salt Lake Tribune reports the decision to expunge ...
Temple Board Announces Deal Reached in Split from President PHILADELPHIA ― Temple University’s board of trustees has reached a deal with Neil Theobald on his departure from the school, more than a week after it took a vote of no confidence in the president and announced its intention to dismiss him. The bo...
Yale Rehires Black Man who Broke Window Depicting Slavery NEW HAVEN, Conn. ― A Black former Yale University dining services worker who used a broomstick to smash a stained-glass window depicting slaves and then resigned has gotten his job back. Corey Menafee said he destroyed the window inside Calhoun Co...
Hofstra to Host 1st Presidential Debate after Wright State Bows Out DAYTON, Ohio ― The first presidential general election debate is moving to New York after an Ohio college withdrew as host, citing rising security concerns and costs. Wright State University President David Hopkins said Tuesday that the school in ...
Semantic Tags:

Leave a Reply

Your email address will not be published.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