New York Times: 5 Percent of Job Programs Fail Test on Graduates’ Success
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The Department of Education is issuing data on Tuesday showing that 5 percent of career-training programs — all of them at for-profit institutions — failed all three requirements of the department’s new gainful-employment regulations. Under the new rules, intended to protect students from taking on high debt for worthless job credentials, at least 35 percent of graduates must be repaying their loans, and the typical graduate’s estimated annual loan payments must not exceed 12 percent of earnings, or 30 percent of discretionary income. Starting next fall, schools that fail all three tests for three of four consecutive years will lose their access to federal aid.
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