For-profit colleges call new Obama administration rules unfair

[ProSense]

For-profit colleges call new Obama administration rules unfair

By Julia Edwards

(Reuters) - For-profit colleges on Friday criticized the Obama administration's proposal to deny federal funding to career-training institutions that students leave with high levels of debt.

The Association of Private Sector Colleges and Universities, which represents more than 1,400 for-profit schools, called the proposed rules discriminatory, saying they would disproportionately affect low-income students.

The Department of Education announced the proposed regulations on Friday, saying students should not be buried under mountains of debt by low-performing for-profit career training colleges that fail to prepare them for a well-paying job.

<...>

Friday's proposal would impose tougher regulations than those blocked in 2012, restricting federal loan eligibility from for-profit programs in which the average debt for a graduate is more than 8 percent of his or her annual income and more than 20 percent of discretionary pay.

- more -

http://www.reuters.com/article/2014/03/14/usa-obama-training-idUSL2N0MB1FY20140314

Obama administration targets for-profit college debt factories
http://www.dailykos.com/story/2014/03/14/1284696/-Obama-administration-targets-for-profit-college-debt-factories

CFPB Sues ITT Tech For Allegedly Exploiting Students, Pushing Predatory Loans
http://www.democraticunderground.com/10024570346

[NuclearDem]

1. That takes some serious gall for the for-profit schools to suddenly "care" about low-income students

Considering they've been screwing them for years.

[woo me with science]

2. They probably needn't worry.

He proposed getting tough on for-profit schools before, also right before midterm elections.
The promises were watered down to nothing with/for corporate lobbyists right after the election.

Obama Administration Caved On For-Profit College Regulations, Insiders Say
http://www.huffingtonpost.com/2011/06/16/obama-for-profit-college_n_877860.html[/div class="excerpt"]
How shocking that we hear more promises now that it's midterm election time again.

[ProSense]

3. Agree,

"They probably needn't worry."

...they should just sit back and let the chips fall where they may.

ITT shouldn't worry either.

"How shocking that we hear more promises now that it's midterm election time again. "

Formula: If it's a good proposal, then it's "too little too." If it's a really good proposal that will appeal to a lot of people, then Obama is only saying it because it's "election time."

LOL!

[PumpkinAle]

4. Ironic isn't it they have their hand out for government

money and yet don't believe they should be accountable.

[ProSense]

5. Exactly. n/t