The sudden closure this week of Ascension College, a for-profit college in Louisiana, has been followed by the arrest of a financial aid officer who was charged with felony theft of $7,600 in tuition payments by students, The Baton Rouge Advocate reported. The college closed after the U.S. Education Department revoked its eligibility for loan programs, citing the institution's "inability to meet multiple aspects of the standards of financial responsibility.” Officials of the college said that they couldn't operate without the loan funds, and that many student cash payments were missing.
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