The Glory Has Departed
Bethany Lutheran Worship on
Wednesday, April 19, 2017
Ecclesia on agency's watch list | NWADG:
"SPRINGDALE -- The U.S. Department of Education placed Ecclesia College in Springdale on a watch list that affects the school's cash flow, according to the department's website.
Ecclesia is under "Heightened Cash Monitoring 2," an indication that the department is providing additional oversight of cash management, according to the website for the department's Federal Student Aid office.
Typically, colleges receive federal student aid funds on an "advance pay" or "direct reimbursement" basis from the Department of Education. Once an educational institution has been placed on the heightened-monitoring list, funds are released to the school after it has disbursed money to the student or parent borrower, and the school must submit manual reports. The process slows the affected college's cash flow.
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