An anonymous reader writes "The U.S. Department of Education has released a proposal for new regulations that would hold colleges that receive federal student aid accountable for the employment success of their graduates. The overhaul is prompted by the fact that students from for-profit colleges account for nearly 50% of all loan defaults yet only account for about 13% of the total higher education population. '[O]f the for-profit gainful employment programs the Department could analyze and which could be affected by [the proposed regulations], the majority--72%--produced graduates who on average earned less than high school dropouts.'"
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