Negotiators Offer Proposals Ahead of 2nd Session on ‘Gainful Employment’ Rule

By Nick DeSantis. The U.S. Department of Education has posted online a series of proposals submitted by negotiators who are seeking to shape its revised “gainful employment” rule, ahead of a negotiating panel’s second formal gathering, set to take place this month. A federal judge last year struck down the department’s previous version of the controversial rule after the Association of Private Sector Colleges and Universities, the main trade group representing for-profit colleges, challenged the regulation in court. In August the department released draft language for a new version of the rule, which would penalize career-oriented programs whose graduates struggle to repay their student loans, as defined by two benchmarks—a debt-to-income ratio and a debt-to-discretionary-income ratio. More...