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Real-Money Stock Picks / Andy Louis-Charles
|Subject: BPI: House blocks new rules...||Date: 2/21/2011 12:17 PM|
|Author: MiQuerencia||Number: 37 of 47|
affecting for-profit colleges:
"WASHINGTON—The Republican-led House sent a strong message in favor of for-profit colleges Friday, voting overwhelmingly to block the Obama administration from applying new rules on student aid that have raised an industry backlash.
In a 289-136 vote led by Republicans, the House said that no money from a wider spending measure to fund the federal government through the rest of fiscal 2011 could be used to put in place the new rules that sought to block students at for-profit colleges from accessing the federal aid. One lawmaker voted present on the matter.
The Department of Education determined last year that some schools in the sector were overcharging students and not providing them with decent training, leaving them burdened with heavy debt loads and difficulty finding employment after they graduated.
Republicans countered that in an attempt to take action against a few bad actors in the sector, the federal government was threatening the entire industry.
For-profit post-secondary institutions have argued they provide an opportunity for lower income, less educated people to gain exposure to vocational training they could not otherwise access...."
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