December 28, 2012
Eight U.S. Senators are calling for an investigation of tactics used by for-profit colleges to avoid sanctions under the Gainful Employment Rule. The rule says that in order for the schools to receive federal funding, at least 35% of their former students must be paying down their student loans. For-profit college mania was a hallmark of the bull market, when the schools saw their enrollment grow by 225% from 1998 to 2008. But during the past four years they’ve been the target of criticism from Congress and lawsuits by unhappy shareholders, employees and students. To learn more, click here.
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