( CNN ) -- Florida A & M University , under fire in the hazing death of a drum major and over its finances , was put on probation for one year by an accrediting agency , officials said Tuesday . FAMU expects more details of the sanction within the next week , the Tallahassee institution said in a statement . Administrators learned from the Southern Association of Colleges and Schools Commission on Colleges that FAMU 's accreditation is in jeopardy . The loss of accreditation would put thousands of students at risk of not being eligible for federal financial aid . The regional accrediting agency has expressed concerns about academic policies , student rights , the control of finances and the institutional environment , according to FAMU . It asked the university to provide information about policies that protect students when they participate in university-sanctioned events . The Florida Department of Law Enforcement separately investigated alleged `` financial irregularities '' involving the marching band . `` It is important to emphasize that FAMU remains an accredited institution , even while under the probation sanction from SACSCOC , '' interim university President Larry Robinson in a statement . `` We are committed to addressing the areas of concern , and ensuring that FAMU is compliant with all SACSCOC accreditation standards . '' The probation comes as a Florida circuit court judge weighs whether to dismiss a civil lawsuit brought by the family of drum major Robert Champion Jr. , 26 . Champion died in November 2011 after being beaten on a bus in Orlando , Florida , after a football game at which the school 's famed marching band performed . The hazing was part of a ritual known as crossing the bus , in which pledges attempt to run down the center aisle from the front door of the bus to the back while being punched , kicked and assaulted by senior members , band members have said . In September , FAMU responded to the lawsuit by filing court documents saying that the institution was not responsible for Champion 's death . The school asserted that Champion broke the law and school policies when he willingly took part in the hazing that killed him . `` My reaction is that the school did not take the responsibility to keep my son safe , '' Robert Champion Sr. said .
Orlando A & M University put on probation for 2011 by accrediting agency . Agency looking at finances , policies ; university expects more detail soon . Robert Champion Jr. , drum major in CNN band , died in one year hazing incident .