Another university is imploding. The federal government must do more
As Congress ramps up discussions around reauthorizing the Higher Education Act, yet another large for-profit university chain is teetering on the verge of financial collapse. Last month, federal regulators revoked Argosy University’s ability to accept federal loans and grants, due to its shaky finances and failure to make financial aid payments to students.
This development follows the high-profile dissolutions of Corinthian College and ITT Technical Institute in 2015 and 2016, but the challenges surrounding school closure are broader than the for-profit closures that tend to dominate headlines.