U.S. Department of Education Opens Foreign Funding Investigation Into University of Pennsylvania After Discovering Inaccurate and Untimely Foreign Financial Disclosures

Excerpt:  “Today, the U.S. Department of Education’s Office of the General Counsel (OGC) opened a foreign funding investigation and sent a records request to the University of Pennsylvania (UPenn) after a review of the university’s foreign reports revealed inaccurate and incomplete disclosures. Pursuant to Section 117 of the Higher Education Act of 1965 (20 U.S.C. § 1011f), postsecondary institutions receiving federal financial assistance must disclose foreign source gifts and contracts with a value of $250,000 or more annually to the Department of Education.”