The DOE's next push on for profit colleges: Gainful-employment rule

[salin]

http://www.huffingtonpost.com/2014/10/30/obama-gainful-employment-rule-for-profit_n_6074652.html?utm_hp_ref=politics&ir=Politics

Obama Administration Announces Final Gainful Employement Rule


AP | By KIMBERLY HEFLING

WASHINGTON (AP) — For-profit colleges that don't produce graduates capable of paying off their student loans could soon face the wrath of the federal government.

Schools with career-oriented programs that fail to comply with the new rule being announced Thursday by the Obama administration stand to lose access to federal student-aid programs.

To meet these "gainful employment" standards, a program will have to show that the estimated annual loan payment of a typical graduate does not exceed 20 percent of his or her discretionary income or 8 percent of total earnings.

The Education Department estimates that about 1,400 programs serving 840,000 students won't pass. Ninety-nine percent of these programs are offered by for-profit schools, although affected career training programs can come from certificate programs elsewhere in higher education. (more at link)


Wasn't there a study recently released that indicated that graduates of for profit colleges had no better chances for being hired for positions than those applicants with just a high school diploma?

The predatory practices to squeeze great profits through student loans without regards to the actual education being sold need to go out with last month's rotten garbage!

[belzabubba333]

1. thanks obama - no really thanks