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

Source: Chris Quintana and Joshua Hatch, The Chronicle of Higher Education, March 8, 2017

According to a Chronicle analysis of data released on Tuesday, 177 private colleges that grant degrees failed a U.S. Education Department test for financial responsibility in the 2014-15 academic year. That’s 18 more than the previous year. Of the institutions that failed, 112 are nonprofit, and the remaining 65 are for-profit. In the previous year, 93 of the 159 failing institutions were nonprofit. …