Biden administration proposes new rule to tackle student debt and low income after graduation.
TL;DR
The Biden administration has proposed a new rule that would cut off federal money to college programs that leave graduates underpaid or buried in loans, but the rules would apply only to for-profit colleges and a tiny fraction of programs at traditional universities. The proposal revives an Obama-era policy known as gainful employment, which was dismantled by the Trump administration before it took full effect. The new proposal would apply to all programs at for-profit colleges, but only to certificate programs at traditional universities. The proposal could take effect no sooner than July 2024.
Topics:nationeducation#accountability#college#education#federal-money#for-profit-colleges#student-debt
- New rule targets college programs that leave grads with low income, high debt The Associated Press
- Biden has 'strongest-ever' plan to prevent student debt from piling up Business Insider
- Biden administration proposes new rule to prevent students from incurring crippling debt at for-profit colleges CNN
- For-Profit Schools to Face Penalties for High Debt Loads, Low Incomes of Graduates The Wall Street Journal
- Proposed rule targets college programs that leave students with ‘unaffordable debt or insufficient earnings’ The Hill
- View Full Coverage on Google News
Want the full story? Read the original reporting
Read on The Associated Press