Newsroom
More than 400 institutions placed on heightened oversight by Department
November 27, 2023
Nearly half of postsecondary institutions placed in a special payment monitoring status are for-profit institutions, according to data released recently by the Department of Education.
In a November 21 Electronic Announcement, the Department of Education said the September 2023 report identified 425 institutions receiving Title IV funds that have placed on Heightened Cash Monitoring (HCM).
Nearly half (211 institutions) are for-profit institutions, while approximately 40% (172 institutions) are nonprofits, and the remaining 10% (42 institutions) are public.
The Department said Federal Student Aid (FSA) may place an institution on an HCM payment method to “provide additional oversight for financial or federal compliance issues, some of which may be serious and others less troublesome.”
The HCM report is accessible at StudentAid.gov/data-center/school/hcm.