MINNEAPOLIS (WCCO) — The U.S. Department of Education (USDE) says two for-profit colleges in Minnesota have been denied access to federal student aid money because they defrauded students.

On Tuesday, Globe University and Minnesota School Of Business – who are under common ownership — were notified that their application for recertification to participate in the Title IV federal aid programs has been denied.

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According to the USDE, Federal Student Aid officials found that Globe and MSB are ineligible for federal student aid because a judge found they committed fraud involving Title IV Program Funds. Also, it was found the institutions knowingly misrepresented the nature of their criminal justice programs and the transferability of credits earned to other institutions.

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The USDE says these “callous acts of misrepresentation” left many students with thousands of dollars of debt with limited options for job placement.

“Globe and MSB preyed upon potential public servants – targeting those with a sincere desire to help their communities.” U.S. Under Secretary of Education Ted Mitchell said. “These institutions misrepresented their programs, potentially misleading students, and abused taxpayer funds, and so violated federal law, which is why we removed them from the federal student aid program. This is a sober reminder that not all institutions deliver on their advertised promises.”

On Dec. 31, 2016, students at both schools will no longer be able to use federal aid.

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During the 2014-15 award year, Globe received $28.4 million in federal student aid and MSB received $25.5 million. Both schools have until Dec. 20 to submit evidence to dispute the USDE’s findings.