Education Dept. Updates List of Colleges It’s Watching Closely

Last month the U.S. Department of Education updated its list of colleges subject to stricter financial monitoring because of concerns about their management or other problems. The new list of colleges under heightened cash monitoring has 413 institutions subject to the first level of scrutiny and 70 colleges subject to the second, more restrictive level.

The department first made its list public this year, after repeated requests from Inside Higher Ed. The first level of heightened cash monitoring, combined with a 21-day delay on reimbursements, is what precipitated the collapse last year of the for-profit Corinthian Colleges.