{"id":2078234,"date":"2023-10-24T18:26:01","date_gmt":"2023-10-24T22:26:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-administration-targets-failing-colleges-and-for-profits-with-new-regulations\/"},"modified":"2023-10-24T18:30:29","modified_gmt":"2023-10-24T22:30:29","slug":"biden-administration-targets-failing-colleges-and-for-profits-with-new-regulations","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-administration-targets-failing-colleges-and-for-profits-with-new-regulations\/","title":{"rendered":"New regulations by the Biden administration aim to address struggling colleges and for-profit institutions."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbiden-administration-targets-failing-colleges-and-for-profits-with-new-regulations%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2078234&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>The Biden Administration Takes Action to \u2064Protect Students and Taxpayers<\/h2>\n<p>The Department of Education under the Biden administration has announced new regulations aimed at safeguarding students and taxpayers from the financial instability of for-profit colleges and universities. These rules, set to take \u2062effect in July 2024, expand federal oversight and regulation of \u2063educational institutions\u2063 that may face closure due to financial difficulties.<\/p>\n<p>Secretary of \u2062Education Miguel Cardona emphasized \u200dthe need\u200b for consumer protection during a conference call with reporters,\u2063 highlighting the plight \u2063of students left stranded when colleges abruptly shut down. He expressed concern over taxpayers being burdened with debt discharges resulting from such closures. The\u200d new\u2064 regulations aim to raise accountability standards and ensure the well-being of students\u200b and taxpayers.<\/p>\n<h3>Enhanced Oversight and Disclosure Requirements<\/h3>\n<p>The new regulations introduce several \u200crequirements for institutions, compelling them to disclose &#8220;triggering events&#8221; that indicate financial struggles. These events include a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-administration-targets-failing-colleges-and-for-profits-with-new-regulations\/\" title=\"New regulations by the Biden administration aim to address struggling colleges and for-profit institutions.\">failing financial responsibility composite score<\/a>, a high cohort default rate, or lawsuits filed against the school\u200c at the federal or state level.<\/p>\n<p>Furthermore, the regulations prohibit schools from withholding transcripts from students and grant\u200b the Department of Education the\u200d authority to impose conditions on financially\u200c unstable institutions. These conditions may include \u2063restrictions on the expansion of locations and programs.<\/p>\n<h3>Targeting Predatory Institutions<\/h3>\n<p>Undersecretary of Education James Kvaal\u2064 emphasized that these regulations specifically target predatory and low-quality\u200d post-secondary institutions, particularly for-profit colleges. The Department \u200cof Education had previously introduced \u200ba\u2064 &#8220;gainful employment&#8221; rule, requiring for-profit schools to demonstrate\u200b that their programs lead to\u200c financial success for graduates.<\/p>\n<p>Kvaal\u200d stated that these rules equip the department with greater tools to protect taxpayers from losses caused by school misconduct and closures.\u200c They also ensure\u2062 that \u2062students pursuing licensure programs can achieve their educational goals.<\/p>\n<h3>A\u2063 Broader Effort\u2064 to\u2063 Address Student Loan Issues<\/h3>\n<p>Cardona and\u200c Kvaal positioned these new regulations as part of the Biden administration&#8217;s comprehensive approach to addressing \u2063problems\u200b in the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/5-reasons-making-taxpayers-pay-off-student-loans-is-a-rotten-idea\/\" title=\"5 Reasons Making Taxpayers Pay Off Student Loans Is A Rotten Idea\">student loan program<\/a>. The Department of Education has already discharged $127 billion in <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/house-passes-repeal-of-biden-student-loan-forgiveness-plan\/\" title=\"Biden's student loan forgiveness plan repealed by House.\">federally held student loans<\/a> for\u200c 3.6 million borrowers, utilizing programs\u2064 such as income-driven repayment, <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-admin-hiding-damning-report-on-student-debt-crisis-lawmakers-say\/\" title=\"Biden Admin Hiding Damning Report on Student Debt Crisis, Lawmakers Say\">public service loan forgiveness<\/a>, and borrower&#8217;s defense of \u2062repayment.<\/p>\n<p>Cardona emphasized \u200dthat these final rules aim to fix \u200ba broken system, protecting students and families while addressing \u200dabuses in higher education\u2063 that have cost taxpayers billions of dollars. The \u200dadministration aims to ensure that \u200dstudents receive a solid return on their investment in higher education and have \u2063a greater chance at achieving the American dream.<\/p>\n<p>However, these regulations have faced criticism\u2062 from Republicans on Capitol Hill. House\u200c Education and Workforce Committee Chairwoman Virginia Foxx denounced \u200bthe rule as executive branch overreach,\u2064 urging the Department of Education to recognize the limits of its\u200b authority.<\/p>\n<p> <\/p>\n<h2> What impact do the \u2063new regulations have on for-profit institutions, and how do they increase transparency and accountability\u200d in this sector to protect students and taxpayers<\/h2>\n<p><span>  Ion the authority to undertake \u2062direct oversight of \u200binstitutions\u200d at risk \u2062of closure. This oversight \u200dincludes conducting financial \u2064reviews, requiring the establishment of a letter\u2064 of credit or other form of financial protection, \u200cand monitoring the institutions&#8217; plans for potential closure. By expanding federal oversight and establishing clear disclosure requirements, \u200cthe Department of Education aims \u200bto\u2062 provide early warnings of financial instability and prevent sudden closures that leave \u200cstudents without access \u2062to education and burden taxpayers with the discharge of \u200d<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/white-house-releases-list-of-president-trumps-accomplishments-and-it-is-historic\/\" title=\"White House Releases List of President Trump\u2019s Accomplishments \u2013  And It Is Historic!\">federal student loan debt<\/a>.<\/p>\n<h3>Prioritizing Student Protections<\/h3>\n<p>Under the new regulations,\u200d institutions that are at risk of closure due to\u200c financial\u2064 difficulties must create\u200b contingency plans to ensure a smooth transition for students. These plans include \u200bproviding information on transfer options, academic support services, and options for loan forgiveness or loan discharge. By requiring institutions to develop robust\u200c contingency plans, the Biden administration aims to prioritize the needs of students\u200d and\u200d ensure they\u200b are not left in limbo if their school \u2062closes \u2063down.<\/p>\n<p>In addition \u200bto enhanced oversight \u2063and \u200ccontingency planning, the regulations also expand \u200dthe authority of state licensing\u200d agencies to oversee for-profit institutions. This increased state oversight \u200baims to complement federal\u2062 efforts by holding institutions accountable for their financial stability and protecting students from predatory practices.<\/p>\n<h3>Impact \u2063on For-Profit Institutions<\/h3>\n<p>For-profit colleges and universities have long faced scrutiny for their business practices and outcomes for \u200bstudents. The\u2063 new regulations from the Biden\u200d administration aim \u2062to increase transparency and accountability\u200c in this sector, ensuring that students and taxpayers are not left footing the bill for \u200cinstitutions that may be on the brink of collapse. By requiring institutions to disclose financial struggles and develop contingency plans, the \u2064regulations aim \u2064to prevent sudden\u2062 closures and ensure that students are protected.<\/p>\n<p>While the regulations may pose \u2062challenges for \u200cstruggling for-profit institutions, they ultimately serve\u2064 to protect students and\u2064 taxpayers. By raising\u200c accountability standards and prioritizing consumer protection, the Biden administration aims \u2064to create a more secure and stable higher education landscape that benefits\u200d everyone involved.<\/p>\n<h3>Conclusion<\/h3>\n<p>The Biden administration&#8217;s new regulations, \u2063set to \u2062take effect in\u2062 July 2024, represent a significant step toward protecting students and taxpayers from the financial instability of for-profit colleges and universities. By expanding federal oversight,\u2062 establishing clear disclosure requirements, and \u2062prioritizing contingency planning, the Department of Education \u200daims to prevent sudden closures, protect students&#8217; access\u2064 to education, and prevent taxpayers from bearing \u2062the burden of excessive loan discharges. These regulations send a clear message that the Biden \u2064administration is committed \u200cto ensuring the well-being of students and safeguarding taxpayer dollars in the higher education sector.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>financial instability. The Biden administration&#8217;s Department of Education introduced regulations targeting for-profit colleges and financially vulnerable schools. These rules, effective from July 2024, aim to safeguard students by enhancing federal supervision and control over institutions at risk of closure.<\/p>\n","protected":false},"author":1,"featured_media":2078235,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[],"class_list":["post-2078234","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2078234","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2078234"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2078234\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2078235"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2078234"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2078234"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2078234"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}