DeVos Cancels Gainful Employment Rule, Deregulates For-Profit Colleges and Trade Schools

janresseger

In late July, the NY Times Erica Green reported that her newspaper had obtained a plan by the U.S. Department of Education to cancel the Obama Department of Education’s “gainful employment rule,” which has denied federal loans and grants to for-profit colleges and trade schools whose graduates were so poorly prepared they were unable to secure jobs by which they could pay off their sizeable student loan debts.

On Friday, Green followed up.  Now two weeks later Green documents that Education Secretary Betsy DeVos has now formally implemented her plan to eliminate the Obama-era rule designed to protect student borrowers from for-profit colleges that had made inflated claims about job preparation: “Education Secretary Betsy DeVos formally moved Friday to scrap a regulation that would have forced for-profit colleges to prove that the students they enroll are able to attain decent-paying jobs, the most drastic in a series of policy…

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