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Released: June 02, 2011
For-profit colleges see rules tighten
Source: Daniel de Vise, Washington Post (Free Registration)
Federal education officials are tightening oversight of the burgeoning for-profit higher-education sector with the release Thursday of a new regulation they say will require career preparatory programs to yield “gainful employment.” The action culminates a lengthy debate between the Obama administration and for-profit college leaders and includes several concessions to the industry meant to soften the regulatory impact. The most important change from a previous draft introduces a multiyear grace period before deficient programs are shut down. The rule effectively would shut down for-profit programs that repeatedly fail to show, through certain measures, that graduates are earning enough to pay down the loans taken out to attend those programs. Advocates say it addresses the chief complaint against for-profit schools, that students emerge from them with too much debt and too little earning power.Read Full Article: For-profit colleges see rules tighten
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