For-Profit Colleges That Bury Students In Debt Face Second Obama Crackdown

[Tx4obama]

For-Profit Colleges That Bury Students In Debt Face Second Obama Crackdown

The Obama administration on Friday will release new regulations intended to target for-profit colleges and career training programs that leave students mired in debt and unable to find decent jobs.

It's the second time in three years that the Department of Education has tried to rein in abuses in the for-profit college industry, whose leaders prevailed in a court battle in 2012 that overturned most the administration's previous rules. The new rules are designed judge the effectiveness of for-profit and some nonprofit career college programs by examining whether students are able to manage their debts after leaving school.

The worst-performing programs may eventually be cut off from federal student aid funding -- the source of nearly 90 percent of revenue for some for-profit colleges.

"Too many of these programs fail to provide students with the training they need, at taxpayer expense and at the cost of these students' futures," Education Secretary Arne Duncan said Thursday evening in a briefing with reporters.

The so-called gainful employment rules would apply to schools that each year take in about $26 billion in federal student loans and about $10 billion in Pell grants for low-income students.

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Full article here: http://www.huffingtonpost.com/2014/03/13/for-profit-colleges-obama_n_4961163.html

[Sarah Ibarruri]

2. I think all govt money for universities should go to state universities. nt

[Myrina]

4. +10

I used to work for a for-profit & it was a joke. They would admit anyone with a pulse, get them to take out max federal student loans, keep it all & then the 'student' would be stuck with debt they got no training/education to repay.

[Sarah Ibarruri]

7. I didn't know that. That's pretty awful. For-profits are only all about the money nt

[Myrina]

8. Sad thing is now they're targeting Veterans ...

Since expanded educational funds have been made available to Iraq/Afghan War vets.

[Sarah Ibarruri]

9. How can we make university govt money go only to public universities and those who are entitled to

it, such as veterans? Do protests? Write congressmen and ask them to stop govt funding of private companies (private universities), etc.?

[Myrina]

10. Best way is to expose the for-profits

... As the scam they are. No, you can't go to "school" online for 6 months and walk into a job as a Sr. IT manager making six figures. As the old adage says, if it sounds too good to be true, it probably is.

[Sarah Ibarruri]

11. Very true. Wonder if anyone has started a blog of website for that? I wish I were more tech

savvy.

[Igel]

3. They should also target non-profits that do the same.

Quite a few of them out there. The harm they cause to students is no different.

[Blue_Tires]

5. brilliant....LONG overdue...

[yurbud]

6. then why require for-profit charter schools in race to the top?

[Bill USA]

12. recommended!!