Challenges
According to a decision on the Department of Education's Office of Hearings and Appeals website, the school was cited. The concerns were discovered in March 1991 during an on-site program visit by the SFAP (Student Financial Assistance Program).
Student loan default rates led to the closure of the school. According to the Department of Education website, Eldorado College had student loan default rates of 27.5%, 36.2%, and 38.9% for student cohorts in 1993, 1994, and 1995, respectively. This resulted in the loss of federal aid eligibility for its students.
The college closed on September 11, 1997. The college president said that the school's closure was the result of "overzealous bureaucrats."
Read more about this topic: Eldorado College
Famous quotes containing the word challenges:
“A powerful idea communicates some of its strength to him who challenges it.”
—Marcel Proust (1871–1922)
“The approval of the public is to be avoided like the plague. It is absolutely essential to keep the public from entering if one wishes to avoid confusion. I must add that the public must be kept panting in expectation at the gate by a system of challenges and provocations.”
—André Breton (1896–1966)