Yup, Argosy could lose all federal aid funding. Why? Because money isn't accounted for. I said it before and I'll say it again. Somebody or somebodies WILL BE going to prison. You know who you are. Come clean. Now. Or else.
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“You get a supeona, you get a supeona, everyone gets a Supeona”!!!! Hey CB and MF, you get one too for crimes against students and your loyal staff and faculty. On your watch!!!! Can’t run, you either did it or you supported it.
During my time working there, Argosy implemented accounting and business practices that would have bankrupted private companies years ago. They would waive or partially waive balances for returning students that were never financially cleared and schedule them for classes without a FAFSA. The processes were backwards. Companies that cannot manage their finances go under and Argosy is no different. The problem here is that taxpayers are ones footing this subprime college loan bubble and no administration wants to reduce the TITLE IV funding gold rush. Government backed loans for colleges and college students is what created this mess. Colleges now have an incentive to recruit unqualified college students that go to school for a stipend, instead of working hard to obtain a diploma. Burn it to the ground!
There was a specific team that would br Ng students back and waive their current balance with the school no questions asked. Except that policies and procedures were ignored and it was unknown the balances were being waived. That team operated for years as the highest producing team. They waived millions in balances and created an accounting nightmare before what they were doing was discovered. It is one of the bigger reasons for unaccounted money from the university.