U.S. Department of Education officials are more closely monitoring a greater number of colleges and universities over concerns about their management of federal funds, according to newly released government data.
As of Dec. 1, 540 colleges or universities were facing the extra scrutiny known as heightened cash monitoring, up from 499 in September, when the department last reported the figures.
Of the 540 institutions, 86 were on the highest form of scrutiny, level 2, and 454 colleges were operating under heightened cash monitoring, level 1.
The colleges on the monitoring list collectively received nearly $8 billion in student loans and grants from the Education Department during the last school year, according to an Inside Higher Ed analysis of federal records.
Read more at Inside Higher Ed: https://www.insidehighered.com/quicktakes/2016/01/05/education-department-tightens-reins-more-colleges