These Colleges’ Finances Are Now Being Watched More Closely by the Education Dept. – The Chronicle of Higher Education
Nearly 40 universities and colleges, including Howard University, are facing increased scrutiny from the U.S. Education Department regarding their finances, according to a list released on Thursday by the department. For Howard the designation is the latest setback for an institution that has weathered intense controversy over its student-aid practices.
Under the monitoring regime imposed by the department, known as HCM2, Howard will no longer receive tens of millions of dollars in financial aid in advance of its disbursement to students. Rather, Howard will need to disburse those funds from its own pockets, and then submit detailed paperwork on each recipient before being reimbursed by the department. The regime differs from HCM1, under which colleges face less-stringent checks. Howard’s change in monitoring status was first reported by The Washington Post.