Education Department Proposes To End Federal Funding To For-Profit Colleges Whose Stude... - 2 views
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The Education Department proposed much-anticipated regulations Friday that would cut off federal aid to for-profit college programs if too many of their students default on loans or don't earn enough after graduation to repay them.
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To qualify for federal student aid programs, career college programs must prepare students for "gainful employment."
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But shares were mixed among companies such as ITT Educational Services Inc., Corinthian Colleges Inc., Education Management Corp. and Career Education Corp. Those companies operate career colleges focusing more on two-year programs or lower-income students and may need to make big changes