Academic Rigor Is a Financial Defense: What Every Institutional Leader Should Take From the Ghost Student Problem

A follow-up from the 2026 SOLAR COLO Convening By Julie Uranis & Tim Lehmann FSA awards more than $120 billion a year to roughly 13 million students. Some of those enrollments are fraudulent. Fraud rings use stolen identities, synthetic identities assembled from real and fabricated information, and sometimes complicit individuals to enroll, obtain aid, and…

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