Univ. Of Phoenix Faces Gov't Financial Aid Review

"Apollo Education Group said the U.S. Department of Education will review the administration of federal student financial aid programs by its University of Phoenix subsidiary," the Associated Press reports

"The for-profit education company said Monday that the government review, which is scheduled to start Aug. 4, will initially cover the 2012-13 and 2013-14 years. The review will also cover the University of Phoenix's compliance with laws governing campus security and crime statistics and drug policy. The university has about 241,900 students.

The Department of Education did not immediately respond to a request for comment.

Enrollments at for-profit education companies boomed during the recession, but demand is sliding and government scrutiny of the industry has intensified."

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