According to a Chronicle analysis of data released on Friday, 160 degree-granting private colleges failed the U.S. Education Department’s financial-responsibility test, which seeks to quantify the financial health of proprietary and nonprofit institutions, for the 2013-14 academic year. That’s two more than failed the year before.
Of the 160 failing institutions, 94 are nonprofit and the rest are for-profit. For the previous year, 108 of the 158 failing institutions were nonprofit.
