Washington, July 23 /PRNewswire-USNewswire/ — In response to the Department of Education issuing a "Gainful Employment" rule today that would make certain career college programs ineligible for Title IV financial aid and effectively eliminate the opportunity for lower-income students to attend career colleges, Harry Alford, president of the National Black Chamber of Commerce issued the following statement.
"Gainful Employment will disproportionately harm low-income and minority populations by discriminating against students who must borrow the needed tuition to attend college. Without financial aid, access to higher education will be limited for thousands of students. At present, Black students make up 18% of enrollees in for-profit colleges and universities — many of them would find it impossible to pursue higher education without this financial aid. Many of these private sector schools are the solution to our education challenges, not the problem."
The NBCC reaches 100,000 Black owned businesses. There are 1.9 million Black owned businesses in the United States. Black businesses account for over $187 billion in annual sales. African Americans have over $800 billion in expendable income each year according to the US Bureau of Census. The National Black Chamber of Commerce is dedicated to economically empowering and sustaining African American communities through entrepreneurship and capitalistic activity within the United States and via interaction with the Black Diaspora.
For more information, please call NBCC at (202) 466-6888 or visit www.nationalbcc.org/.