Obama Said to Delay For-Profit College Loan Rule
14 June 2010
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The Obama administration is delaying the release of a proposed rule that would cut federal financial aid flowing to for-profit colleges, Congressional aides said today. Analysts said the move means the government may back away from a regulation the industry is fighting.
The proposed rule, known as gainful employment, would disqualify Apollo Group Inc., ITT Educational Services Inc., Career Education Corp. and other for-profit colleges from receiving grants and loans if their graduates spend more than 8 percent of their starting salaries repaying student loans. Analysts said they had expected the rule to be released next week. The aides declined to be named because they said weren’t authorized to release the information.
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This is not right the to delay for the college loan rules but I think that Sir Obama is a very thought full person and if he is delaying it there will be some thing which will going to add for the good of colleges loans rules.
Obama leads the country in the wrong direction …
[...] Gregg Manning Posted in [...]