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College Stocks Soar Again
That's the print title in Monday's The Wall Street journal.
If you go through the authors' Twitter feeds, you can go around the paywall.
Stocks of Strayer, Grand Canyon, DeVry open higher this morning after Trump announcement on regs affecting for profit schools
Link to tweet
Trump Administration delays enforcement of Obama-era rules on for-profit colleges https://www.wsj.com/articles/trump-administration-delays-enforcement-of-obama-era-rules-on-for-profit-colleges-1488848240 … via @WSJ
Link to tweet
A resurrection for for-profit colleges as Trump hints at a better environment for them #highered via @WSJ
Link to tweet
Anyway, the casino is open again. Place your bets.
For-Profit Schools: Trump Delays Enforcing New Rules, Lifting Shares
Education Department delays ‘gainful employment’ rule to resolve industry concerns
By Josh Mitchell and Gunjan Banerji
March 12, 2017 11:00 a.m. ET
It isn’t exactly 2006 again, but for-profit colleges are riding high on Wall Street.
Stocks in the industry, some left for dead five months ago, have climbed rapidly since November as investors cheer President Donald Trump’s talk of easing regulations. Last week, for-profit schools got an inkling he might deliver on the promise when the Education Department announced it would delay enforcing rules drafted under the Obama administration. ... Those rules, known as “gainful employment,” threatened to shut down hundreds of for-profit campuses in the next two years due to high debt levels among former students.
....
The Education Department said the delay would allow it to resolve industry concerns about the integrity of graduate-earnings data underpinning the regulations. But many investors interpreted it as a broader shift from former President Barack Obama’s aggressive oversight. ... Mr. Trump once owned a for-profit school, the now-defunct Trump University, while Education Secretary Betsy DeVos has championed private-sector options and said she wants to promote skills training in higher education.
“Our sector is ready to go,” Steve Gunderson,* head of the industry’s main trade group, Career Education Colleges and Universities, said of its plans to lobby the Trump administration.
....
Write to Josh Mitchell at joshua.mitchell@wsj.com and Gunjan Banerji at Gunjan.Banerji@wsj.com
Education Department delays ‘gainful employment’ rule to resolve industry concerns
By Josh Mitchell and Gunjan Banerji
March 12, 2017 11:00 a.m. ET
It isn’t exactly 2006 again, but for-profit colleges are riding high on Wall Street.
Stocks in the industry, some left for dead five months ago, have climbed rapidly since November as investors cheer President Donald Trump’s talk of easing regulations. Last week, for-profit schools got an inkling he might deliver on the promise when the Education Department announced it would delay enforcing rules drafted under the Obama administration. ... Those rules, known as “gainful employment,” threatened to shut down hundreds of for-profit campuses in the next two years due to high debt levels among former students.
....
The Education Department said the delay would allow it to resolve industry concerns about the integrity of graduate-earnings data underpinning the regulations. But many investors interpreted it as a broader shift from former President Barack Obama’s aggressive oversight. ... Mr. Trump once owned a for-profit school, the now-defunct Trump University, while Education Secretary Betsy DeVos has championed private-sector options and said she wants to promote skills training in higher education.
“Our sector is ready to go,” Steve Gunderson,* head of the industry’s main trade group, Career Education Colleges and Universities, said of its plans to lobby the Trump administration.
....
Write to Josh Mitchell at joshua.mitchell@wsj.com and Gunjan Banerji at Gunjan.Banerji@wsj.com
* I wonder if that's this Steve Gunderson:
Steve Gunderson
Steven Craig "Steve" Gunderson (born May 10, 1951, in Eau Claire, Wisconsin) is the former President and CEO of the Council on Foundations, the current president and CEO of the Association of Private Sector Colleges and Universities, and a former Republican congressman from Wisconsin.
....
Political career
....
Opposed and then supported by conservatives
In 1994, Gunderson was outed as gay on the House floor by representative Bob Dornan (R-CA) during a debate over federal funding for gay-friendly curricula, making him one of the first openly gay members of Congress and the first openly gay Republican representative. In 1996, Gunderson was the only Republican in Congress to vote against the Defense of Marriage Act, and he has been a vocal supporter of gay rights causes since leaving Congress. During his time in the House, Gunderson was one of only two gay Republicans serving in Congress, the other being Jim Kolbe of Arizona.
Indeed, it is.
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