Monday, June 25, 2012

Feds determine Harrisburg University not "financially responsible." Eligibility for federal financial aid seriously threatened.

Source: HU Audit for year ending 6-30-2011, Smith, Elliot, Kearns & Co 
Source: HU Audit for year ending 6-30-2011, Smith, Elliot, Kearns & Co 

This information comes from an audit from last year for the time period prior to HU's failure to make a bond payment and a default on a loan from Dauphin County. According to this document, HU did not meet the standards to be considered financially responsible for both the years ending on June 30, 2010 and 2011. HU violated the conditions of the zone alternative in 2012 by defaulting on a loan from Dauphin County and failing to make a bond payment in March of 2012. Additionally, it appears that HU's current poor financial position will once again disqualify it as a financially responsible institution. Thus, it will have participating in the Title IV program under the zone alternative standards for the maximum number of three years by the end of the year ending on June 30, 2012.
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4 comments:

  1. So does this mean there is no financial aid in the fall? If so we are doomed.

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    1. I'd say it was a possibility, but my guess is the U.S government doesn't work that fast. I've contacted the Office of Financial Aid, but I don't know if it is a matter they will discuss. I'll post if/when I get any more info.

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  2. Why do we have to find this stuff out from a god damned blog?!

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  3. You find this out from the blog because the official HU line is not credible. WaChing is not making anything up. He has even vetted himself by going public (though I still like the moniker WaChing - to the sound of a cash register slamming and a bell ringing - almost as good as a baby monkey riding a pig...) Perhaps Sara Ganim would be interested in this story...(HU not the pig)

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