By Kelly Heyboer/ The Star-Ledger
JERSEY CITY — Ten New Jersey colleges and trade schools were flagged in a federal “financial responsibility” test designed to identify higher education institutions with shaky finances, according to new data released by the federal Department of Education.
The schools — which include Saint Peter’s University, New Brunswick Theological Seminary and several career colleges — could face increased federal oversight or be required to post a letter of credit in order for their students to continue receiving federal financial aid, federal officials said.
The schools were among hundreds of private and for-profit colleges screened nationwide in a test that gives students and the public a rare glimpse into the financial health of education institutions.
More>>
