Key Coverage

180 Private Colleges Fail Education Dept.’s Latest Financial Responsibility Test

Every couple of years, the federal government issues an analysis of the financial strength of colleges. “Financial-responsibility scores, which are derived from the audited financial statements that colleges submit annually to the department, are supposed to offer a broad measure of colleges’ financial health. By placing restrictions on failing programs, the department seeks to protect students and taxpayers from colleges at risk of financial collapse.”