https://www.insidehighered.com/quicktakes/2019/02/11/argosy-fails-distribute-9-million-federal-aid
12 replies (most recent on top)
Idty, it is on the Office of Higher Education website. http://www.ohe.state.mn.us/mPg.cfm?pageID=2340
@1cno, I couldn't find anything like that published/mailed. Who wrote this and when?
This company is so broke it couldn't pay attention. They are going to lose their accreditation and the students are getting jacked. So sad...too much bull***.
Information for Argosy University
February 11, 2019
Update related to the release of stipends:
The U.S. Department of Education is working with the receiver to ensure student refunds are made.
Background: The issue of refunds not being made to students is related to Argosy University’s lack of cash and Argosy University’s Heightened Cash Monitoring 2 (HCM2) status with the U.S. Department of Education. Essentially, Argosy is required to show federal financial aid funds are applied to student accounts and issue refunds even if the school has not received the funds yet from the U.S. Department of Education. i.e. the schools are supposed to front the money to the students, but Argosy does not have the cash to do this.
Guidance: This issue must be resolved through the receiver and the U.S. Department of Education for federal financial aid refunds. OHE is working out a process to ensure that students can receive financial aid refunds for state financial aid programs.
Argosy has to pay the students stipends up front with its own cash, that it doesn't have. How long before accreditation is pulled?
The suspense is terrible! I hope it will last...
Got my refund. Gonna buy a new tv and weed. For educational purposes:
I’m sure the receiver getting paid is the first priority before students and faculty.
If the money cannot be found, then they'll bring in a forensic accountant to investigate. People are going to jail for embezzlement. Brent Richardson for Jail 2019.
Rug roh :( this has to be a mistake (fake news). DCEH is the most honest, reputable, stand up company out there.
It’s only $9 mil, no one will miss it. That’s pocket change for Assemby of God and DCF leaders.
Told ya so