April 3, 2013
Many Colleges Could Lose Federal Aid Eligibility Under New Interpretation of Rule
Under a new interpretation by the Education Department of its "state authorization" rule, many colleges around the country could risk losing their eligibility to receive federal student aid.
Under the federal regulation, colleges must receive authorization from the states in which they enroll students before they may receive federal student-aid funds. The department is currently interpreting a portion of the
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