The Washington Post
For-profit colleges will have to limit how much debt students amass in career-training programs or have their federal funding cut, according to rules issued Thursday by the Obama administration.
The rules are the culmination of years of contentious debates over the responsibility for-profit colleges have to ensure that graduates of career programs receive “gainful employment.” While the restrictions could place 1,400 programs in jeopardy of losing federal student aid, critics say the rules still leave room for schools to abuse the system.
Administration officials championed the rules in 2009 as a way to protect students from programs that could leave them drowning in debt. For-profit colleges, which get most of their revenues from federal student aid, argued that they were being unfairly targeted and the regulations would hurt low-income students.
Full Story: Obama administration issues rules to regulate colleges with career-training programs, b The Washington Post, 10/30/14