A 2010 GAO studied showed that federal aid to students at for-profit colleges had tripled over a five-year period from $8 billion to $24 billion and now accounts for 23% of the total aid given out, even though enrollment at for-profit schools only accounts for 8% of college students. Meanwhile, studies continue to show that an inordinately small number of students at these schools ever graduates. In an effort to cut back on the number of people left with mammoth amounts of student loan debt they can't pay back, the U.S. Dept. of Education has issued a new edict: Show us your college actually prepares students for gainful employment or risk losing out on that lovely loan money.
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4 comments:
Oh no, just more of that "socialism and nanny state"
Of course aid to students attending public schools - 92% - will continue though the track record there is worse. Government can saddle both students and taxpayers with all the debt they want.
How do you prove a negative?
Just more busy work for some overworked college employee who now has to figure out how to pull the data to be reported for 'Gainful Employment' proof.
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