For-Profits Spend Heavily to Fend Off New Rule

For-Profits Spend Heavily to Fend Off New Rule | Kelly Field & Goldie Blumenstyk | Chronicle of Higher Education | 10 September, 2010

The article discusses a plan by the U.S. Department of Education to stop providing federal aid to for-profit colleges and universities that have many enrolled students who are unable to repay their student loans.Supporters of for-profit schools have begun to lobby and petition the department and the U.S. congress that this plan is unnecessary. It is noted that student loans contribute a large amount of revenue to for-profit schools and lobbyists claim that the rule would hurt students and schools alike. The financial health of for-profit schools like Corinthian Colleges, Kaplan Inc., and Career Education Corporation, is discussed.

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