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    177 Private Colleges Fail Education Dept.'s Financial-Responsibility Test "According to a Chronicle analysis of data released on Tuesday, 177 private colleges that grant degrees failed a U.S. Education Department test for financial responsibility in the 2014-15 academic year. That's 18 more than the previous year," according to The Chronicle of Higher Education. "Of the institutions that failed, 112 are nonprofit, and the remaining 65 are for-profit. In the previous year, 93 of the 159 failing institutions were nonprofit. The department considers an institution’s debt and assets, among other factors, in giving it a score ranging from -1 to 3. Scores lower than 1.5 are considered failing. The department’s methodology in devising the scores has drawn sharp criticism in the past from some higher-education groups. The latest scores cover the institutions for fiscal years ending between July 1, 2014, and June 30, 2015. Several of the colleges have closed since the 2014-15 academic year. Some, like Dowling College, in Oakdale, N.Y., previously failed the financial-responsibility test, while others, like Saint Joseph’s College, in Rensselaer, Ind., passed it." NASFAA's "Headlines" section highlights media coverage of financial aid to help members stay up to date with the latest news. Inclusion in Today's News does not imply endorsement of the material or guarantee the accuracy of information presented. Publication Date: 3/10/2017
    6 years ago by @prophe
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    For those that draw the line in the sand at $5.00 for a “penny stock,” Aspen Group, Inc. (OTCQB:ASPU) may be able to graduate out of penny-stock-land soon. Trading as low as $1.52 last July (and $1.21 in January 2016), the company has found a solid uptrend to tip the scales at $4.44 in December for its current 52-week high. After a pullback from that high, shares are moving up again, including a 7.7% climb in morning trading to $4.04 on Friday. Shares are being driven by the New York City-based post-secondary education company issuing two substantial pieces of news after Thursday’s closing bell. First, in the third quarter of fiscal 2017 (ended January 31, 2017), Aspen reported revenue of $3.74 million, up 73% from the year prior quarter. The company swung to a profit, with net earnings of $7,377 versus a net loss of $689,718 a year earlier. Aspen also had a record number 825 new student enrollments during the latest quarter, a 50% year-over-year increase. Separately, the company said it signed a letter of intent to acquire an unnamed regionally accredited for-profit university based in California for $9.0 million. Payment will come in the form of $2.5 million in cash, $2.0 million in convertible debt and $4.5 million in ASPU common stock. $900,000 of the $2.5 million cash component will be lent to a newly-formed entity controlled by the loan’s guarantor who owns 100% of the voting power of the university.
    6 years ago by @prophe
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    The law school once boasted bar-passage rates of more than 90 percent but has seen its percentages drop to about 25 percent among first-time test takers. A for-profit law school in downtown Phoenix that is struggling with falling bar-passage rates is moving to affiliate with one of the country’s historically black colleges and universities. Arizona Summit Law School has signed an affiliation agreement with the private, nonprofit Bethune-Cookman University in Daytona Beach, Florida. The law school, founded in 2004, once boasted bar passage rates of 97 percent but has seen its percentages drop to 25 percent among first-time School officials said they have made several changes aimed at improving bar passage, and that the affiliation with Bethune-Cookman will enable them to benefit from the university's academic support services and marketing. A university official also will serve on Arizona Summit's board of trustees. The deal would allow both schools to pursue their objectives of diversifying the legal profession, officials said. "This enables us to take it to a much higher level sooner, swifter and with greater impact," Arizona Summit President Donald Lively said. Bethune-Cookman President Edison Jackson said in a statement, “Together, we aim to be a leading force in disrupting a legacy of exclusion that has persisted into the 21st century.” The affiliation needs the approval of several accrediting bodies, including the American Bar Association and the Arizona Board of Private Postsecondary Education. The agreement doesn't make Arizona Summit a nonprofit school. However, Lively said the school is working toward nonprofit status. Summit’s owner, InfiLaw Corp., also owns law schools in North Carolina and Florida, and the parent company has been controversial in legal circles. A sister school, the Charlotte School of Law, was put on probation by the American Bar Association last year for two years because of concerns over its bar-passage rates, and the U.S. Department of Education in December yanked the C
    6 years ago by @prophe
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    Provincial minister for Higher Education Commission, Syed Raza Gillani, has announced that distribution of laptops among university students will start from 13th March. A total of 115,000 laptops will be awarded to deserving students from public sector universities. This announcement was made during a departmental meeting at Civil Secretariat on 8th March. Secretary Higher Education Department Naseem Nawaz and representatives of private universities and Punjab Higher Education Commission attended the meeting. Share of public and private universities According to Prime Minister’s Laptop scheme, only public sector university students were eligible to enroll in the program. This meant that around 110,000 laptops were to be distributed to deserving students enrolled in public universities. However, Punjab government has decided to award additional 5,000 laptops to students from private universities. Talking about this change in policy, Raza Gillani said that provision of laptops to private universities is another ‘first’ of Punjab government. He further added that this would help the students to improve their access to the latest knowledge-trends. Schedule of distribution Distribution of these laptops will start from 13th March. Public sector universities will be the first to get these laptops, with private sector universities coming later down the road.
    6 years ago by @prophe
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    The notice under Rule 116 was moved by Congress MLAs Punjabhai Vansh, Mahendrasinh Baraiya, Hirabhai Patel and Mansinh Chauhan. The Gujarat government, on Friday, said that it is actively considering to conduct admissions of professional medical courses at Sumandeep Vidyapeeth, a deemed university at Waghodia of Vadodara and other such universities through the common counselling procedure to be done by the state government. Health Minister Shankar Chaudhary said this from the floor of Gujarat Assembly while making a statement on a discussion under Rule 116 of the Assembly on reports of authorities of Sumandeep Vidyapeeth taking bribes from medical students to get them passed in the examination. The notice under Rule 116 was moved by Congress MLAs Punjabhai Vansh, Mahendrasinh Baraiya, Hirabhai Patel and Mansinh Chauhan. The Congress MLAs alleged that commercialisation of education in Gujarat had resulted in large-scale corruption and the Sumandeep Vidyapeeth incident had caused a sense of fear among the parents and students. President of Sumandeep Vidyapeeth Mansukh Shah and two others were arrested by the Anti-Corruption Bureau for accepting a bribe of Rs 20 lakh from mother of a girl student for letting her fill her medical examination papers last month. Giving a reply on the notice, Chaudhary refuted the allegations levelled by opposition Congress and said that taking due seriousness of the complaint lodged by the mother of the girl student, ACB had conducted decoy operation and then arrested total three persons, including Mansukh Shah. Investigation of the case is on. Chaudhary then said that Sumandeep Vidyapeeth is a deemed university which conducts admissions of various medical examinations on its own while also deciding its fees.
    6 years ago by @prophe
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