Colleges on Department’s Financial-Failure List Deserve a Second Look, Group Says

Responding to the publication of data on colleges that have failed the Department of Education’s test of financial responsiblity, the National Association of Independent Colleges and Universities said Thursday that students should not rule out attending one of the 150 nonprofit institutions “simply because it’s listed” with a failing score. The comment came in a  a statement from the association saying that some institutions failed the test based on the “day the snapshot” of their financial health was taken, “and today would pass the test with flying colors.” It also said that some colleges were on the list because of the way the calculation accounts for certain resources, and that it and other higher-education groups are working with the department to alter that methodology.