Minnesota officials fear money Argosy University owed students will go to lawyers instead
The money Argosy University had in the bank when it closed won’t all be used to repay students and taxpayers for financial aid the school used inappropriately.
Instead, much of the $4.4 million the institution had on hand could go to the court-appointed receiver and attorneys overseeing the wind-down of the for-profit college chain after its financial collapse.
In May, a federal judge was asked to approve more than $2 million in fees and expenses for those firms. The request includes $973,000 in legal fees and $28,000 in expenses for Dottore Cos., the firm acting as the schools’ receiver, essentially its financial steward.
Sunflower, one of the companies Argosy owes money to, criticized the request for fees and expenses as “exorbitant and excessive” in a legal challenge filed June 12.
Read more: https://www.twincities.com/2019/06/27/mn-officials-fear-money-argosy-u-owed-students-will-go-to-lawyers-instead/