Higher Ed, Not Debt Campaign Partners Respond to Gainful Employment Regulation

Students across the country have called on the Department of Education and the Obama Administration to increase oversight of predatory for-profit colleges that leave students with high debt and little to show for it. The Administration took a step forward today by issuing a regulation that will increase accountability and transparency, but much more is needed to protect students.

In particular, we know that institutions with low graduation rates result in higher default rates. Yet the Gainful Employment regulation does not hold for-profit schools accountable for their astonishingly low completion rates. These students are left with high debt and no degree, and have spoken up to share their student debt stories.

As one student told us: “I have almost 50,000 dollars in student debt. I only attended college for 4 and 1/2 months. I went to a for-profit college…worst decision I ever made. I didn’t get a degree, the job market was flooded with grads which I found out after enrolling and I’m almost in default… I had to take a minimum wage job and move back home after I left school. I lost my job and now I’m at the point of losing everything.”

Here’s what student groups, advocates, and HEND partners are saying about the new rule:

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