114 colleges failed Education Department’s test of financial strength

Source: College News Posted By: Hinton B...5427 days ago

The U.S. Department of Education recently analyzed the financial condition of American institutions of higher education. At the end of the last fiscal year, 114 private non-profit degree-granting colleges had failed the department’s financial responsibility test.

Failing the test can be an indicator that a college is in serious financial jeopardy. Last year, at least five institutions that failed the test in fiscal year 2007 or 2008 either shut down, merged with another college, or were sold....

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