Gainful employment

Kevin P. Chavous:

Against all logic and growing opposition from both sides of the political spectrum, the U.S. Department of Education (ED) seems poised and determined to proceed with the new Gainful Employment regulations, which would serve as a guidepost for their issuance of federal student loans for private sector colleges. The proposed Gainful Employment regulations would require that career education providers and programs provide students for "gainful employment" in recognized occupations.

To determine if these programs are eligible, ED wants to tie its federal loans to students' debt-to-income ratio as well as the repayment rates of the for-profit institution. While there has been much debate over the origin of this proposal, its impact could not be more clear: for-profit colleges would suffer and, more significantly, low-income and minority college enrollment would drop precipitously.

Posted by Jim Zellmer at June 1, 2011 1:29 AM
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