Starting Wednesday, the National Advisory Committee on Institutional Quality and Integrity, an oversight body, will meet to determine whether a major college accreditor will lose recognition as a gatekeeper of federal student aid dollars.

The Accrediting Council for Independent Colleges and Schools (ACICS) is on the committee’s hit list after allowing taxpayer money to go to several floundering institutions of higher education, including ITT Educational Services and the now-bankrupt Corinthian Colleges.