The federal education department called that “a severe breach of the required fiduciary standard of conduct” that “demonstrates a blatant disregard for the needs of its students.” The department said the university didn’t pay federal financial aid credit balances to students as required by law and that, after receiving $13 million in federal aid in January, Argosy instead used that money to cover payroll costs and other expenses. Department of Education announced it no longer would provide financial aid to the private university because it had failed to properly administer the money in what the department called “a grievous breach” of the university’s responsibility. “I feel sorry for the staff and the students because it’s just a horrible situation to be in.”Īrgosy’s fate appeared to be sealed last week when the U.S. “Then my dissertation chair called me and texted me and said, ‘No, you need to get your transcript (Friday),’ ” said Jones, of Sauk Village. She said she had seen reports in a Facebook group about Argosy possibly closing but she was not aware until Thursday that it could affect Chicago. One doctoral student, who did not want to give her name, said Friday she learned of the news from a TV broadcast.įormer student Tiffany Jones, who received her doctorate in 2017, came downtown Friday to get a copy of her official transcript because she wasn’t sure how much longer she’d be able to obtain it directly from the school. Several students said they were given no warning of the imminent shutdown. Administrators at the downtown Chicago campus revealed Wednesday the school was facing a shutdown by the end of the week.
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