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For-profit colleges win softer rule intended to inform public of underperforming schools
Thursday, June 2, 2011
The Chronicle of Higher Education: “For-profit colleges, which have spent millions fighting the [U.S.] Education Department‘s proposed “gainful employment” regulations, have won some major concessions in the final rule,” reports Kelly Field. Field writes the rule “is intended to protect students and taxpayers from programs that overpromise and underdeliver, leaving students saddled with debt and no job to show for it.” For-profit college students account for nearly half the student loan dollars in default. (See also our recent report on lawsuits accusing for-profit schools of using illegal compensation practices to encourage enrollment of unqualified students who are more likely to default and leave taxpayers footing the bill.)
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Tags: For-Profit colleges;
Category: In The News;