I saw a tweet a few moments ago from the Commission on Higher Education (CHED) announcing the closure of International Academy of Management and Economics (IAME). I couldn't find the reasons for it, but I suspect noncompliance with CHED standards. It's reminds me of the closure of PMI Colleges, a maritime training school.
Since I couldn't find anything yet on IAME, I decided, out of curiosity, to follow-up on the PMI story. While looking it up, I chanced upon a blog of a PMI alumnus who actually agrees that the closure was long overdue. Now if an alumnus agrees that his school should be closed, then there must be something seriously wrong.
CHED geting tough with standards compliance is actually a recent thing. CHEd has become aggressive on making sure that higher education institutions do meet international standards. In my field (Physics) Professors I know have been travelling around the country evaluating BSc Physics programs; from what I've heard, some of these programs are on the way to shutdown because of the low quality of coursework they offer, the lack of competent faculty, and shortage of students.
If degree programs have been shutdown, then it's not unreasonable to expect shutdown of higher education institutions; a school, after all, should not offer courses it cannot teach. I know it will be painful for students of these substandard schools. However, if the standards are unmet, and CHED allows schools to operate (the line of least resistance, which seemed to be the policy of the previous administration), then, in the end, it is the graduates who will suffer: because their degrees will only be treated as useless paper.