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WASHINGTON - The Obama administration is proposing new rules designed to protect students at for-profit colleges from amassing huge debt they can't pay off - and still pass judicial muster after a previous version was thrown out by a federal judge.
The proposed regulations would penalize programs that produce graduates without the training needed to find a job with a salary that will allow them to pay off their debt. Schools, for-profit or not, that don't comply would lose access to the federal student aid programs.
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''Career-training programs offer millions of Americans an opportunity they desperately need to further their education and reach the middle class,'' Education Secretary Arne Duncan told reporters Thursday.
If finalized, the regulations would take effect in 2016.
The for-profit college lobby is expected to vigorously oppose the proposals.
In 2012, the for-profit colleges convinced a judge that similar regulations were too arbitrary.
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Posted by Unknown on Thursday, March 13, 2014 - Rating: 4.5
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