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Academic paper by Robert Kelchen (Professor and Department Head, University of Tennessee, Knoxville) and Holly Evans, providing the first comprehensive overview of how the U.S. Department of Education’s Heightened Cash Monitoring (HCM) program has been used over time. Analyzes HCM usage trends since the mid-2010s, characteristics of colleges placed on HCM, and closure rates — directly relevant context for understanding Antioch College’s federal oversight status.
