California cuts University of Phoenix off from student aid funds

California cuts University of Phoenix off from student aid funds - Phoenix Business Journal: "University of Phoenix is among 154 schools that no longer are eligible for student financial aid from the California Student Aid Commission.
Diana Fuentes-Michel, executive director of the California Student Aid Commission, said colleges and universities that have a default rate higher than 15.5 percent or a graduation rate lower than 30 percent no longer will be eligible to receive student aid in its Cal Grant Program for the 2012-13 academic year. The standards were tightened during California’s last legislative session.
For the most part, for-profit schools such as UOP were hit hardest, she said."

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