For-Profit Schools Are Not The Problem

Career College Central Summary:

  • Bill Amadeo, owner of B.A.T. Tutoring and a member of the State Bar of Michigan writes: In today's economy, especially in Michigan, careers and technology are changing, Workers need proper education in order to find a good-paying job. Many Michigan employers, big and small, publicly admit that they have job openings but not enough qualified applicants to fill these new high-skilled positions.
  • Furthermore, our ever-changing world proves that education cannot be a one-size-fits-all system. As the saying goes, "options are good," and for education, the more the better whether its a traditional 4-year university, community college, trade school, public, private, non-profit, or for-profit institution. For many students, career-focused schools are a good fit as they seek out opportunities to get the skills they need to secure a good job, and those options should not be taken away from them.
  • Washington bureaucrats would have you believe these institutions are nothing but one big broken promise. But the truth is "for-profit" schools are not the problem.
  • The reality is student debt is a problem across all of higher education.
  • In typical Washington fashion, the proposed regulation unfairly disqualifies degree programs at career-focused schools from accepting student loans if its graduates have loan payments higher than 8% of their monthly income.
  • Yet it doesn’t apply this standard equally to every school or institution. In fact, the average student loan borrower at a private, non-profit four-year school has twice as much debt allowed by the Gainful Employment Regulation, yet these schools would be exempt from the rule.
  • Even at public, non-profit four-year schools, which are heavily taxpayer subsidized, the average student borrower has 50% more debt as allowed by the Gainful Employment Regulation.
  • And they would also be exempt from this new rule.
  • Student loan debt can be a problem for many Americans, but it’s not confined to students that graduate from just one type of school or program. Unfairly singling out certain career-focused schools is a problem because it will kill opportunities for students seeking better opportunities and chances to succeed.

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