U.S. Department of Education, Department of Education’s Federal Student Aid Denies Reinstatement Application of For-Profit Law School:
Today, the office of Federal Student Aid (FSA) in the U.S. Department of Education (ED) informed Florida Coastal School of Law that its application for reinstatement to participate in federal student aid programs has been denied. …
The reinstatement application for Florida Coastal School of Law was denied for three reasons:
- Failure of the financial responsibility standards:
- Failure to meet the fiduciary standard of conduct; and
- Failure to meet the standards of participation, including the standards of administrative capability.
“Florida Coastal School of Law operated recklessly and irresponsibly, putting its students at financial risk rather than providing the opportunities they were seeking,” said [FSA chief Richard] Cordray. “Our commitment is to stand up for all students and ensure their institutions are held to the standards our students and communities expect and deserve.”
Today’s notification comes after the school’s contract with the Department expired on March 31, 2021, when required Florida Coastal School of Law officials refused to sign the contract, effectively ending the school’s participation in the federal student aid programs. In early April, Florida Coastal School of Law applied for reinstatement.
Below are additional details regarding the denial of Florida Coastal School of Law’s reinstatement application: …
- ABA Journal, Florida Coastal’s Financial Aid Reinstatement Request Denied; Private Equity Firm Pulls Out
- Bloomberg, For-Profit Law School Blocked From Student Loan Programs
- Florida Times-Union, Florida Coastal School of Law ‘Operated Recklessly,’ Loses Federal Student Aid
- Jacksonville Daily Record, Florida Coastal’s Federal Student Aid Program Application Denied
