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College That Abruptly Closed Reportedly Had Been Cut Off From Federal Financial Aid

ACT College, the financially troubled for-profit institution in Virginia that abruptly closed this week, had recently been denied approval to continue receiving federal financial aid and was facing allegations that it withheld financial-aid money that was owed to students, The Washington Post reported. A spokesman for the U.S. Department of Education told the Post that the health-care college’s application had been rejected “to protect students and taxpayer funds.” The college’s president, Jeffrey S. Moore, could not be reached for comment, but a former college executive who asked not to be identified denied the department’s allegations and said that the institution was being unfairly targeted.

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