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For-profit colleges, be warned: DOE is set to hold leaders personally liable for reckless spending

University Business

In the midst of President Joe Biden’s Supreme Court defense of student loan relief, the Department of Education formally announced it would personally pursue leaders of for-profit institutions to pay unanswered debts their institution incurred from reckless spending and non-compliance with federally allocated financial aid dollars.

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Predatory Colleges, Converted To Non-Profit, Are Failing (David Halperin, Republic Report)

Higher Education Inquirer

Department of Education that it is imposing a $37 million fine on Grand Canyon based on similar allegations. Grand Canyon in 2018 had restructured itself into two entities: a non-profit college, GCU, and a for-profit company, Grand Canyon Education (GCE), that gets paid to provide a range of services to the school.