More Than 150 Private Colleges Flunked Financial-Health Test in 2011, U.S. Says

More than 150 degree-granting colleges failed the U.S. Department of Education's "financial responsibility" test for the 2011 fiscal year, data released on Monday show.

The number of nonprofit degree-granting institutions that flunked in that year, 116, was lower than in the 2010 fiscal year, when 150 nonprofits and 30 for-profits had failing scores.

Of those failing in the 2011 fiscal year, 54