Going Further On Gainful Employment
Career College Central summary:
The U.S. Department of Education has upped the ante in its pursuit of “gainful employment” accountability requirements for vocational programs at for-profit institutions and community colleges. Last week, agency officials released draft regulatory language that is stiffer than what they proposed in September, before a group of negotiators began discussing the issue. And experts said the latest draft also goes further than proposed and final rules from the previous gainful employment battles a couple years ago.
The department’s initial stab at the standards this time around was based only on two measures of the debt-to-earnings ratios of graduates of academic programs. The revised draft includes both a loan default metric and a measure of repayment rates across a program’s entire “portfolio” of loans.
The proposed language arrived about a week before the committee of department-selected negotiators begins its second round of meetings. The gulf between the viewpoints its members have shared so far has been wide, and most observers predict the meetings will fail to result in a formal consensus.
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