U.S. Department of Education, New Analysis Finds Many For-Profit Colleges Skirt Federal Funding Limits: 90/10 Data Released (Dec. 2016). Data excel spreadsheet here.
New analysis released today by the U.S. Department of Education reveals many for-profit schools would likely exceed the 90/10 federal funding limits if revenue from Department of Veterans Affairs (VA) and the Department of Defense (DOD) programs were included in the 90/10 calculation the same way Title IV funds are included. The annual 90/10 report also released today finds 17 for-profit colleges out of compliance with existing federal funding limits.
New estimates by the VA and DOD found that by counting VA’s Post 9/11 GI Bill benefits as federal aid, the number of schools receiving at least 90 percent of their revenue from federal education programs would jump from 17 to nearly 200. The total federal aid dollars administered by schools that rely on federal funds for more than 90 percent of their total revenues would increase from approximately $80 million to an estimated $8 billion. This analysis considers revenue reported by institutions for institutional fiscal years ending during the 2013-14 award year.