Late audits were culprit in sanction of W.Va.'s public colleges

When public colleges and universities in West Virginia were placed under cash restrictions for federal student aid last month, it was a rare -- and possibly unprecedented -- instance of the federal government sanctioning an entire state’s higher education system. But it’s not unusual at all for public universities to find themselves subject to this form of sanction, known as heightened cash monitoring, which requires them to seek reimbursement from the feds only after they’ve handed out...