Ed Dept drops $103M letter of credit for Ashford U spinoff

Ed Dept drops $103M letter of credit for Ashford U spinoff

Dive Brief: The U.S. Department of Education has dropped a requirement that Ashford University post a letter of credit in order to continue receiving federal student aid after it separates from its owner, Zovio, according to an SEC filing Tuesday. The letter of credit would have been equivalent to 25% of the for-profit, online institution’s […]
Ed Dept takes aim at HLC over Art Institutes accreditation dispute

Ed Dept takes aim at HLC over Art Institutes accreditation dispute

Dive Brief: A recent U.S. Department of Education staff report takes aim at the Higher Learning Commission, alleging the regional accreditor didn’t follow its own rules when notifying schools about their accreditation status during a change of ownership. The...
Ed Dept steps up scrutiny of college foreign gifts reporting

Ed Dept steps up scrutiny of college foreign gifts reporting

Dive Brief: The U.S. Department of Education this week changed how colleges are required to report foreign gifts and contracts to the federal government as the Trump administration and legislators continue to crack down on such deals. The new digital portal for...
Ed Dept: CTE programs can donate PPE to healthcare workers, hospitals

Ed Dept: CTE programs can donate PPE to healthcare workers, hospitals

Dive Brief: In a Tuesday announcement, U.S. Secretary of Education Betsy Devos said career and technical education programs can donate or loan personal protective equipment and other medical supplies purchased with federal funds to healthcare providers, hospitals and...
Ed Dept to distribute $6B in coronavirus stimulus funding to colleges

Ed Dept to distribute $6B in coronavirus stimulus funding to colleges

Dive Brief: The U.S. Department of Education intends to immediately distribute about $6 billion in coronavirus relief funding to colleges, Education Secretary Betsy DeVos said Thursday.  Institutions must use this money to provide emergency grants to students who have...