Harvard students can expect to fork over $240,000 for a bachelor’s degree in women’s studies, while it costs about $20,000 to finish beauty school. But only one of these programs is subject to the Biden administration’s crackdown on unaffordable education debt.
“We believe any accountability measures should apply to all schools in all sectors of education so that all students can benefit from those accountability measures,” said Mr. Altmire, a former Democratic congressman from Pennsylvania. Certainly the college-debt burden is a problem. The federal student loan debt totaled $1.727 trillion as of the fourth quarter of 2023, down from $1.732 trillion the previous year for the first-ever decline in student debt.
The 2011 rule was thrown out by the courts. The 2014 revision was rescinded by the Trump administration in 2017, but provided a year’s worth of data that became the basis of an eye-opening 2022“Lessons From Gainful Employment” by senior policy analyst Andrew Gillen found that when the same standards were applied to all universities, 51% of programs at private nonprofit colleges and 39% of those public nonprofits failed to make the grade. Only 11% of for-profit programs flunked the test.