In a historic move, the U.S. Education Department secures resignations of top executives in a landmark for-profit college scandal settlement. Read to learn more.
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The move is part of an “unprecedented” settlement agreement that will officially shutter Florida Career College and allow the parent company’s remaining colleges to access federal financial aid, but with stricter rules. Two senior executives at the parent company of a troubled for-profit chain will resign as part of a settlement agreement reached with the U.S. Education Department the first time the agency has required such a move.