For-profit trade school regulations delayed…follow the money

In late summer–and with much fanfare–it looked like Congress and the Department of Education would finally address the outrageous abuses of bad actors in the for-profit education sector. Predictably, the pace has slowed to a crawl, with Department of Education delaying the promulgation of regulations.

Do you need to wonder why?

According to this report, most of the push back from Congress came from members who received campaign contributions from for-profit trade schools.

Most of the dispute focuses on the Department of Education’s proposed gainful employment rule. The gainful employment rule would put the brakes on bad actors in the for-profit trade school industry. The rules would limit federal student loan monies for those programs that saddle students with debts that cannot be reasonably repaid with degrees granted by the institutions.  Hmm…expensive degrees with heavy debt loads qualifying students for jobs that won’t allow them to pay off the debts. This sounds so familiar.

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