THE HILL — The Obama administration is moving to pull federal funding from for-profit colleges that saddle students with steep student loan payments, but fail to prepare them for the job market.
Draft regulations unveiled Friday by the Department of Education would strip programs of their federal backing if they fall short of a proposed set of benchmarks meant to ensure graduates end up with a job – and manageable monthly payments.
“Too many of these programs fail to provide students with the training they need,” Education Secretary Arne Duncan told reporters ahead of the rule’s long-awaited release.
Read more at The Hill.
