U.S. Delays For-Profit College Aid Rule After 90,000 Comments
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U.S. Department of Education Secretary Arne Duncan delayed publishing a rule that could hamper for-profit colleges’ access to federal financial aid after receiving 90,000 comments and letters.
The department will postpone the publication of the rule to early 2011 from Nov. 1 to review public comments and host several meetings and hearings, Duncan said in an interview yesterday. The proposal, called gainful employment, requires for-profit colleges to show their programs improve job prospects or lose eligibility for funds. The rule remains scheduled to take effect in July, 2012, he said.