
Washington’s last-minute budget deal did not include a provision that would have killed a stringent for-profit college regulation, and Pell Grants remained intact despite deep cuts in education spending over the next six months.
The for-profit regulations pushed by the Obama administration for more than two years would impact some of the nation’s largest online colleges, such as the University of Phoenix and Kaplan University, by stripping schools of federal loan money if too many of their students maintain high loan debt-to-income ratios, among other provisions.
Although the anti-regulation provision was pushed primarily by Congressional Republicans, a bipartisan letter was submitted April 4 that would have barred the U.S. Department of Education (ED) from implementing the new regulations on for-profit programs.…Read More