Posted by ButterBall Devil on March 17, 20 at 06:48:25:
In Reply to: Re: Grand Canyon fires Dan Majerle posted by WalkerDevil on March 16, 20 at 13:47:05:
I am not sure it was any accreditation authority - although that may be true, and I believe it had to be re-evaluated.
But along with the Dept of Education crackdown on "for profit" vocational schools (and acting to prevent Fed student loans from being extended to those students), GCU was told that absent a reorganization, its students would suffer the same result - i.e., "no loans for you!" (cue Seinfeld accent).
I think GCU is doing a good thing with its restructuring, and frankly, should realize economies of scale, but the DOE, and of course, the traditional non-profit peers, have yet to reach an understanding that will allow Sallie Mae and others to extend loans. Keep in mind that the accreditation boards are populated by representatives of their peer/competitors.