State Keeping Close Watch On For-Profit Colleges

(Austin, TX) — The state is keeping a close eye on nine for-profit colleges in Texas because they are at risk of collapse. The Texas Higher Education Coordinating Board will not name the schools for fear of making their financial situations even worse, but it does say that nearly two thousand students attend classes on the nine campuses. Higher Education Commissioner Raymond Paredes says all nine schools know they are being monitored. Last month, ITT Educational Services shut down its campuses nationwide after being barred from accepting students who receive federal financial aid.