Another college planning to close.

Inside Higher Ed reports.

Notoriety and Now Closure

Just a few years ago New Jersey-based Drake College of Business was seeing record growth and opening its second location. But now the for-profit institution, with a campuses in Elizabeth and Newark, will close its doors.

The privately held education company witnessed a one-year enrollment growth of 400 percent from 2009 to 2010, but media reports exposed that the college was recruiting homeless people from shelters.

A month ago, the college informed the Accrediting Council for Independent Colleges and Schools that it will shut down on July 31 after more than 130 years in business. Formerly known as the Jersey City Business School, the college historically provided training for accountants and administrative assistants.