"California's move to tighten eligibility requirements for its Cal Grant program will eliminate or reduce awards to 14,500 students, most of them enrolled in for-profit colleges such as the University of Phoenix, the California Student Aid Commission announced Tuesday.
The commission released a list of colleges that are no longer eligible to receive Cal Grants under tougher standards passed by the Legislature and signed by Democratic Gov. Jerry Brown in June. The rules were adopted to save an estimated $55 million and address the state's budget deficit.
California's public universities and most nonprofit, private colleges met the new standards for graduation rates and student loan defaults.
Of the 170 for-profit schools that participate in the state financial aid program, 137, or 80 percent, could not meet them. They include the University of Phoenix, ITT Technical Institute, Kaplan College, Heald College and others.
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