Gaps in Fiscal Monitoring in Post-Secondary Schools

The U.S. Government Accountability Office (GAO) released its report on oversight in postsecondary schools, and provided recommendations to address gaps in oversight and communication in fiscal monitoring. GAO found that 450 of approximately 6,000 schools that participate in federal student aid programs did not receive a passing financial composite score. Additionally, a higher percentage of for-profit schools received non-passing scores than non-profit schools despite the U.S. Department of Education increasing oversight of schools owned by publicly traded companies and private equity firms. ​