The Obama administration has proposed new rules that hold for-profit colleges and community colleges more accountable. The “gainful employment” rule sets standards to assess whether career and vocational training programs are adequately preparing students for employment. It also considers whether former students actually earn enough to repay their loans.
The new rule has African American lawmakers and interests taking opposite sides, which seems odd when you consider that minority students are the most likely victims of enticements to take out loans for college courses that never produce a job.
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