US EditionNew rule will cut federal money to college programs that leave grads with high debt, low pay
- The Biden administration is finalizing a rule that will cut off federal money for college programs that leave graduates with low pay or unaffordable loans, with a focus on for-profit colleges and certificate programs at traditional universities.
- The rule, known as gainful employment, revives an Obama-era policy that was dismantled by the Trump administration. It will take effect in July 2024 and aims to protect about 700,000 students per year.
- Programs that fail to meet the rule's requirements, including limits on loan payments compared to income, will be at risk of losing federal aid, potentially leading to their closure. However, some for-profit colleges argue that the rule unfairly penalizes programs that enroll students who may face wage discrimination.
10 Articles
10 Articles
New rule will cut federal money to college programs that leave grads with high debt, low pay
WASHINGTON (AP) -- College programs that consistently leave graduates with low pay or unaffordable loans will lose access to federal money under a new rule being finalized by the Biden administration. The policy applies mostly to for-profit colleges, along with certificate programs at traditional universities.
New rule will cut federal money to college programs that leave grads with high debt, low pay
By COLLIN BINKLEY AP Education Writer WASHINGTON (AP) — A new federal rule threatens to cut federal money to college programs that consistently leave graduates with low pay or unaffordable debt. The gainful employment rule finalized by the Biden administration on Wednesday applies mostly to for-profit colleges, along with certificate programs at traditional universities. The Education Department says it’s a step toward accountability for America…
New rule will cut federal money to college programs that leave grads with high debt, low pay
By COLLIN BINKLEY AP Education Writer WASHINGTON (AP) — A new federal rule threatens to cut federal money to college programs that consistently leave graduates with low pay or unaffordable debt. The gainful employment rule finalized by the Biden administration on Wednesday applies mostly to for-profit colleges, along with certificate programs at traditional universities. The Education Department says it’s a step toward accountability for America…
New rule will cut federal money to college programs that leave grads with high debt, low pay
FILE - Education Secretary Miguel Cardona speaks during an interview with The Associated Press in his office at the Department of Education, Sept. 20, 2023 in Washington. A new federal rule threatens to cut federal money to college programs that consistently leave graduates with low pay or unaffordable debt. The gainful employment rule finalized by the Biden administrations on Wednesday applies mostly to for-profit colleges, along with certifica…
New rule will cut federal money to college programs that leave grads with high debt, low pay
College programs that consistently leave graduates with low pay or unaffordable loans will lose access to federal money under a new rule being finalized by the Biden administration. The policy applies mostly to for-profit colleges, along with certificate programs at traditional universities.The Education Department says it's a step toward accountability for America's higher education system. The rule, known as gainful employment, was proposed in…
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