How was Hodges University allowed to stay open this long?

Hodges University announced their closure Friday evening, August 25th.Who is responsible for letting these colleges stay open?To the data: (From the College Viability App and IPEDS data 2014-2021)1. FTE enrollment down more than 1,000 students (-73%)2. 4 and 6-year graduation rates averaged about 10% and 15%, respectively. These are the lowest I have seen for closing colleges.3. Hodges 2021 endowment was less than $3M.4. Total assets were down almost $14M (-17%)5. In the past few years, they weren't even posting all of their IPEDS data to the National Center for Education Statistics5. Their 2022 audited financial statement showed P&L losses of amost $5M over the past two years.Is anybody home at Southern Association of Colleges and Schools Commission on Colleges (SACSCOC) I checked their web site. The December 2022 actions included an substantive discussion of Hodges and its weaknesses - yet the agency gave something called: 'continued accreditation for Good Cause (caps included) Here is the linkWho are these accreditors serving? Crashing colleges? Innocent students and their famlies? Faculty? Staff?Here is the full College Viability blog on this story.For faculty and staff: Here is a courtesy link to compare enrollment of more than 1,300 private colleges from 2014-2021 (the last reported year)For college leaders and boards, here is a link purchase both the public and private college versions of the 2023 College Viability Apps.Here is the link to Doug Lederman's IHE story about Hodges closure.