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CollegeBound Blog

160 Private Colleges Fail Education Dept.’s Financial-Responsibility Test

Blog, Colleges, General, Information
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According to a The Chronicle of Higher Education analysis of data released on Friday, 160 degree-granting private colleges failed the U.S. Education Department’s financial-responsibility test, which seeks to quantify the financial health of proprietary and nonprofit institutions, for the 2013-14 academic year. That’s two more than failed the year before.  Of the 160 failing institutions, 94 are nonprofit and the rest are for-profit. For the previous year, 108 of the 158 failing institutions were nonprofit. [read more]

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