{"id":2078239,"date":"2023-10-24T18:30:04","date_gmt":"2023-10-24T22:30:04","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-administration-targets-failing-colleges-and-for-profits-with-new-regulations-2\/"},"modified":"2023-10-24T18:35:05","modified_gmt":"2023-10-24T22:35:05","slug":"biden-administration-targets-failing-colleges-and-for-profits-with-new-regulations-2","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-administration-targets-failing-colleges-and-for-profits-with-new-regulations-2\/","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-2%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=2078239&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\u200d Protect Students and Taxpayers<\/h2>\n<p>The Department of Education under \u200bthe Biden \u2062administration has announced new \u2063regulations aimed at\u2064 safeguarding students and taxpayers \u2064from the \u2064financial instability of for-profit colleges and universities. These rules, set to take effect \u200din July 2024, expand federal oversight and regulation \u200cof educational institutions that \u200dmay face\u200b closure due to financial \u200cdifficulties.<\/p>\n<p>Secretary\u200d of Education Miguel Cardona emphasized the\u200d need for consumer protection during\u200d a conference call with\u2063 reporters,\u200d highlighting the plight \u200dof students left \u200dstranded when colleges abruptly shut down. He expressed concern over taxpayers\u200c being burdened with debt discharges resulting from such closures. The new regulations aim to raise\u2064 accountability standards and \u200densure the well-being of \u2062students and taxpayers.<\/p>\n<h3>Enhanced Oversight and Disclosure Requirements<\/h3>\n<p>The\u200d new regulations introduce several \u2064requirements for institutions, compelling them to disclose &#8220;triggering events&#8221; that indicate financial struggles.\u2063 These \u200devents\u200c include a \u200d<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\u2063 lawsuits filed\u2064 against \u200dthe school at the federal or \u2064state level.<\/p>\n<p>Furthermore, the regulations prohibit schools\u2062 from\u200c withholding transcripts from students and grant the Department of Education the authority \u2062to impose conditions \u2062on financially unstable institutions. \u200dThese \u200bconditions may include restrictions on the expansion of locations and programs.<\/p>\n<h3>Targeting Predatory Institutions<\/h3>\n<p>Undersecretary of Education James Kvaal emphasized that these regulations specifically target predatory\u2064 and low-quality post-secondary institutions, particularly for-profit colleges. The Department of Education had previously \u2062introduced a &#8220;gainful \u2063employment&#8221; rule,\u2062 requiring for-profit schools to demonstrate that \u200btheir programs\u200d lead to financial \u2064success for graduates.<\/p>\n<p>Kvaal stated that these rules \u200cequip the department with greater tools to protect taxpayers from losses \u2062resulting from school misconduct and closures. They also ensure that students pursuing \u2064licensure programs can achieve\u200b their\u200b educational goals.<\/p>\n<h3>A Broader Effort to Address Student\u2064 Loan Issues<\/h3>\n<p>Cardona and Kvaal positioned these new regulations as part of the Biden administration&#8217;s comprehensive\u2064 approach to addressing \u200cproblems in the \u200c<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>.\u200b The Department of Education has already discharged\u2064 $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 3.6 million \u200dborrowers, utilizing programs such as income-driven repayment, public\u2064 service loan forgiveness, and borrower&#8217;s \u200ddefense of \u200drepayment.<\/p>\n<p>Cardona emphasized that these final rules\u2064 aim \u2064to fix a broken system, protecting students and \u200dfamilies while addressing abuses in higher education that \u200bhave cost taxpayers billions \u2064of\u200d dollars.\u2062 The\u2064 administration aims to ensure that students receive a solid return \u200bon their\u200d investment in higher education\u200b and have a greater chance at achieving the American dream.<\/p>\n<p>However, these regulations have faced criticism from Republicans on Capitol Hill. \u200bHouse Education and Workforce Committee Chairwoman Virginia Foxx \u200cdenounced the rule as executive branch \u200doverreach, urging the Department of Education \u2064to recognize \u2063the limits \u2062of\u2063 its authority.<\/p>\n<p> <\/p>\n<h2> How will the\u2063 new regulations hold educational institutions accountable for high cohort default rates and \u200dencourage student loan repayment<\/h2>\n<p><span>  Ity to access\u2060 \u2062financial\u2063 and other \u2063relevant \u2063information regarding the school&#8217;s financial stability. This enhanced\u2063 oversight \u2064will help identify institutions that may be at risk of closure and take prompt action to protect students and taxpayers.<\/p>\n<h3>Student Protections<\/h3>\n<p>Under the\u2062 new\u2063 regulations,\u2064 students will have access to more information about the financial health of their\u2062 college or university. Educational institutions will be required \u2063to provide clear \u2064and comprehensive disclosures about \u200dtheir \u2062financial stability, \u2062including potential risks and obligations, to ensure students can make\u200c informed decisions about their education.<\/p>\n<p>Additionally, schools must develop plans to \u2064assist students\u200d in completing their programs\u200b of study in the event of a\u2064 closure. These \u200cplans should outline options for transfer \u2063to \u2063other institutions, \u2064refund policies, \u2064and academic support\u200d services to minimize the disruption caused by sudden closures. By implementing \u2062these protections, the \u200dBiden administration\u2063 seeks to ensure that students have the necessary resources and options\u200c to continue their \u2063education \u2062without significant setbacks.<\/p>\n<h3>Financial Accountability<\/h3>\n<p>In\u2064 an effort to protect taxpayers, the \u2064new <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-administration-targets-failing-colleges-and-for-profits-with-new-regulations-2\/\" title=\"New regulations by the Biden administration aim to address struggling colleges and for-profit institutions.\">regulations establish stricter financial accountability \u2062measures<\/a> for for-profit colleges and universities. The Department of Education will closely monitor institutions with failing financial responsibility \u2063composite\u200d scores and take appropriate action to mitigate risks. This includes imposing penalties, \u200dsuch as fines and increased oversight, to \u2064discourage financial \u2064mismanagement.<\/p>\n<p>Furthermore, the regulations emphasize \u2062the importance of student loan repayments. Educational \u200binstitutions will\u2062 be held accountable for\u200c high cohort \u2064default rates, indicating a\u2063 high number of students who\u200b are unable to repay their loans. \u200bThe Department\u2064 of Education will closely monitor\u200b these rates and take necessary actions, \u200dincluding potential loss of federal financial aid eligibility, to encourage schools to prioritize student success and \u2064financial well-being.<\/p>\n<h3>Conclusion<\/h3>\n<p>The\u2064 Biden\u200c administration&#8217;s new regulations are a significant step towards protecting students, taxpayers, and the\u200d integrity of the higher education\u2064 system.\u2063 By enhancing oversight, providing student protections,\u200c and ensuring financial accountability, the Department of Education aims to prevent devastating consequences for\u200d students and taxpayers when educational institutions face financial difficulties. These regulations demonstrate the administration&#8217;s commitment to creating \u200ca fair and secure higher education landscape, \u2062where students can pursue their dreams without bearing unnecessary risks.<\/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":2078241,"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-2078239","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\/2078239","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=2078239"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2078239\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2078241"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2078239"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2078239"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2078239"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}