Education Department moves to make leaders of failing private colleges personally liable for unpaid government debts ...Middle East

The Education Department announced Thursday it is implementing formal guidance to determine when leaders of failing private colleges would be personally liable for unpaid government debts. Officials said under the authority of the Higher Education Act (HEA), the department can make leaders of private colleges that are failing “to operate in a financially responsible way to assume personal liability” if there are unpaid debts owed to the government. The new measure enacts certain criteria to be used when determining if leaders deserve to be held personally liable for the debt, according to an announcement from the agency. They listed three main factors to determine personal lia

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Education Department moves to make leaders of failing private colleges personally liable for unpaid government debts ...Middle East

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