THE SACRAMENTO BEE: Heald College gets temporary reprieve in student aid dispute
Career College Central Summary:
A week after halting scholarship payments to Heald College because of concerns over its financial health, the California Student Aid Commission offered the troubled for-profit chain a temporary reprieve Friday.
As Heald representatives vociferously objected to the school’s treatment in recent weeks, the commission gave the college until the end of its spring quarter to come into compliance by providing audited statements showing its finances and administration are in stable condition.
Under the plan, Heald’s eligibility for the Cal Grant scholarship program will end in April if it does not come into compliance. The suspension of aid payments for current students will continue until that time, but they may still be paid in a lump sum after termination if students are able to finish out the term.
“We see this as a compromise decision,” Heald spokesman Joe Hixson said. He added that Heald expects to provide the commission with the documents it is seeking by the end of March and plans to temporarily finance students until aid payments are restored.
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THE SACARAMENTO BEE