Officials at the public institution blamed falling enrollment, rising costs and a culture of nonpayment among students for ongoing financial woes.
The agency also is moving to bar the former founder and CEO of Zovio, which owned the online university, from leading any institution taking Title IV funds.
A year and a half ago, the private Missouri institution’s sustainability was in doubt. But enrollment increases have led to steep improvements in its finances.
The proposal comes the day after Gov. Ron DeSantis called for a special legislative session focused on implementing tougher immigration policies.