"Jennifer Anderson thought her job at Martin University was secure. In October, employees said they were told that the college had enrolled enough students to stay open through spring 2026," Mirror Indy reports. 

..."Similar holdups with financial aid money can sometimes occur when students transfer from one college to another, said Jill Desjean, director of policy analysis for the National Association of Student Financial Aid Administrators. But in those cases, a financial aid administrator would typically contact a student’s former school and ask them to release the money.

But by the time students at Martin realized their financial aid was held up, there was no one left to help address the problem as school staff was abruptly laid off.

'This is not necessarily something underhanded that the school that closed is doing,' Desjean said. 'But now (the money) is just kind of hanging out there, looking like at any moment the school could disburse the aid, even though everyone knows that the school is closed, and that’s not possible.'"

NASFAA's "Notable Headlines" section highlights media coverage of financial aid to help members stay up to date with the latest news. Articles included under the notable headlines section are not written by NASFAA, but rather by external sources. Inclusion in Today's News does not imply endorsement of the material or guarantee the accuracy of information presented.

Publication Date: 5/27/2026