""Some people go to college [and] take out loans for programs that really just don't have a whole lot of economic value. They end up with debt and limited job prospects.""
""The proposed rule aims to hold colleges accountable for the financial outcomes of their programs, ensuring that students are not burdened with debt for degrees that do not lead to viable careers.""
The Department of Education proposed a rule to restrict federal student loans for college programs whose graduates earn below certain thresholds. Undergraduate programs must ensure graduates earn at least as much as high school diploma holders, while graduate programs must exceed earnings of bachelor's degree holders. Programs at risk include vocational training and degrees in low-earning fields. Approximately 2,000 colleges have programs that may fail this earnings test, potentially affecting over 600,000 students and highlighting concerns over $1.7 trillion in student loan debt.
Read at Fortune
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