The Obama administration is cracking the whip on for-profit colleges.

The Obama administration is cracking the whip on for-profit colleges.

http://money.cnn.com/2015/07/01/pf/college/for-profit-colleges-debt/

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Starting Wednesday, the Department of Education will make sure students don't take on more debt than they can handle by holding schools accountable for the return on investment of their degree programs.

In many cases, especially with for-profit colleges, institutions have over-promised earning potential and students have taken on mountains of debt that they can't repay.

The new set of rules, called the gainful employment regulations, require colleges to track their graduates' debt and employment to prove that their programs don't fall short of federal guidelines. Institutions now have to provide information on program costs, how much students earn after they graduate and how much debt they could accumulate.

This will let the Department see which programs are saddling students with debt and leaving them with low earning prospects, and which offer affordable training that leads to well-paying jobs.


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