St. Andrews Faces Accreditation Loss (Inside Higher Ed)
"St. Andrews Presbyterian College in North Carolina is appealing the most severe of sanctions after the Commission on Colleges of the Southern Association of Colleges and Schools acted Thursday to revoke the college's accreditation for financial reasons," reports Inside Higher Ed. "If a decision to revoke a college's accreditation is ultimately upheld, the institution loses access to federal financial aid funds and the stream of students that that money makes possible. At St. Andrews, 68 percent of students receive federal aid."
You can read the complete June 27, 2007 Inside Higher Ed article on-line.
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