Education Department Delivers a Blow to For-Profit College Watchdog

Schools face the risk of shutdown if the feds follow through on their threat.

Students wait outside Everest College, on April, 28, 2015, in Industry, Calif., after Corinthian Colleges announced it would shut down all its remaining 28 ground campuses.

Photographer: Christine Armario/AP Photo

The Obama administration moved on Wednesday to terminate the ability of a 104-year-old accreditor to act as one of the gatekeepers of the roughly $130 billion in federal funds that annually flows to schools.

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