OAKLAND CITY, Ind. (WFIE) – A 14 News Update now on what has been happening with Oakland City University.
The Higher Learning Commission, a university accreditor, released a notice giving OCU a Financial Issue Designation.
This comes after the U.S. Department of Education placed a sanction on them called Heightened Cash Monitoring Level 2.
What this means is rather than getting federal funds and disbursing them to students, they must use their own funds, then seek reimbursement from the department.
Of course, 14 News has been following OCU for a while, and they are still waiting for funding.
According to spreadsheets from the Department of Education, OCU has been at Level 1 for years for compliance issues.
In their notice, the Higher Learning Commission says financial conditions at OCU raise concerns about its ability to support its programs.
University President Ron Dempsey says they are aware of the notice, and they were involved in the designation from the Commission.
Now, OCU will host a comprehensive evaluation on October 26th and 27th when the commission will decide if the designation can be removed or if other action needs to be taken.
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