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posted by LaminatorX on Friday October 31 2014, @08:55PM   Printer-friendly
from the underwater-basketweaving dept.

Education Secretary Arne Duncan says the Education Department wants to make sure that loan programs that prey on students don’t continue their abusive practices. Now Kimberly Hefling reports at PBS that for-profit colleges that don’t produce graduates capable of paying off their student loans could soon stand to lose access to federal student-aid programs. In order to receive federal student aid, the law requires that most for-profit programs, regardless of credential level, and most non-degree programs at non-profit and public institutions, including community colleges, prepare students for "gainful employment in a recognized occupation." To meet these “gainful employment” standards, a program will have to show that the estimated annual loan payment of a typical graduate does not exceed 20 percent of his or her discretionary income or 8 percent of total earnings. "Career colleges must be a stepping stone to the middle class. But too many hard-working students find themselves buried in debt with little to show for it. That is simply unacceptable," says Duncan . "These regulations are a necessary step to ensure that colleges accepting federal funds protect students, cut costs and improve outcomes. We will continue to take action as needed."

But not everyone is convinced the rules go far enough. "The rule is far too weak to address the grave misconduct of predatory for-profit colleges," writes David Halperin. "The administration missed an opportunity to issue a strong rule, to take strong executive action and provide real leadership on this issue." The final gainful employment regulations follow an extensive rulemaking process involving public hearings, negotiations and about 95,000 public comments and will go into effect on July 1, 2015

 
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  • (Score: 0) by Anonymous Coward on Friday October 31 2014, @11:51PM

    by Anonymous Coward on Friday October 31 2014, @11:51PM (#112079)

    This is nothing new. Even in the late 80s I got the same pitch. That was for state schools. Go take advantage of their 'job placement' which my parents thought was the bees knees. It was a wall with about 50 of 3x5 cards pinned to a wall and a lady showing you a couple of pointers on making a resume. Now they just point you at a website and do not even bother to have the room in the alumni center.

    If you goto school you better have a goal. If it is 'just to go', then dont, you are not ready. You 'might' get some contacts. I got maybe one guy I could contact... maybe. The rest never kept in touch.

  • (Score: 1) by Anonymous Coward on Saturday November 01 2014, @01:12AM

    by Anonymous Coward on Saturday November 01 2014, @01:12AM (#112088)

    It was a wall with about 50 of 3x5 cards pinned to a wall and a lady showing you a couple of pointers on making a resume. Now they just point you at a website and do not even bother to have the room in the alumni center.

    Sounds like Work and Income New Zealand. Originally, they were there to assist you in finding employment, but under the current neo-liberal government (and their predecessors in the 1990s) you are contractually obliged to accept any job offered to you (confusingly, under neo-liberal doctrine it was your choice to accept the job) and these days, they offer you no help.

    When you ask what they do, they will tell you that they are there to "faciliate " you into work. Ask what that means, and they'll just tell you that their job is to faciliate you into work. Curiously, they get paid around $50k/year to insult and belittle you and demand that you disguise your disabilities so you can find work.

    Then they get all shitty when someone snaps and kills one of them after all of their bullshit. If you treat people like crap, one day it will come back to you.