September 27, 2012
3 For-Profit Institutions Lose Student-Aid Eligibility After Failing 90/10 Test Twice
Three for-profit educational institutions have been declared ineligible to receive federal student-aid funds as a result of their failure to comply with a regulation governing how much of their revenue can come from federal sources, according to data recently released by the U.S. Department of Education.
The eligibility cutoffs mark the first time the department has taken that step since the regulation, known as the 90/10 rule, was modified in 2008.
The 90/10 rule requires