U.S. Department of Education-mandated changes have forced American University of Antigua (AUA) to cancel the disbursement of financial aid to some students, ABN has learned.
A source close to the situation told ABN that business people in Antigua, including landlords who rent to AUA students, could soon start to feel the negative impacts.
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Without the financial aid to pay for living expenses in Antigua, American students might opt out of studying on the island, the source told ABN.
Reports indicate that more than 150 new apartments are currently being built by locals, and these were intended to serve as rental units for AUA students.
Meanwhile, ABN has seen a copy of a letter the university has sent to some students, which states: “we understand that the U.S. Department of Education has required AUACOM cancel your Title IV disbursements …”
In the letter AUA said it has arranged for a private loan through Richland Bank, and students can apply to borrow up to US$50,486.
AUA was founded in 2004 and is part of the Manipal Education and Medical Group.
The institution is composed of two schools: AUA College of Medicine (AUACOM) and AUA College of Arts and Sciences (AUACAS).
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