Feds consider whether to shut for-profit college watchdog
BOSTON - Federal education officials are deciding whether to shut down the nation's biggest accreditor of for-profit colleges over allegations it overlooked deception by some of its schools.
The Accrediting Council for Independent Colleges is meant to be a watchdog for hundreds of for-profit colleges. Its seal of approval allows schools to get federal money.
But a Center for American Progress analysis says at least 17 colleges certified by the council have been subject of state and federal investigations.
Among them are Corinthian Colleges, which closed amid fraud allegations, and ITT Technical Institute, which faces federal fraud charges.
More than a dozen state attorneys general have asked the Education Department to revoke the group's authority. A decision is expected this month.
The council has announced several new changes and promised to improve.