Many for-profits would fail under gainful-employment rule change

Image:  Under the Biden administration’s proposed gainful-employment rule, 40 percent of programs at for-profit colleges would fail, potentially risking their ability to qualify for federal student aid, according to a new study released Wednesday by the Institute for College Access and Success. Under the proposed change, the study found, nearly double the number of for-profit colleges would not meet gainful-employment standards compared to the original 2014 rule. “The basic...