While the college attempted to increase enrollment, refinance existing debt and sell land, the college’s financial stability wasn’t viable given its current enrollment.

Federal student aid policy succeeds or fails in its execution. Right now, execution is being set up to fail.

Programs that routinely fail to provide students with a positive ROI—or return on investment—would lose access to federal student loans and, in certain cases, Pell Grants, according to the Department of Education.

The Department of Education proposed a new rule stripping federal loan eligibility from undergraduate programs that fail to provide graduates with higher earnings than a high school graduate.