Obama retreats on college crackdown

By Allie Grasgreen The Obama administration on Thursday watered down its threatened crackdown on for-profit colleges, loosening tough sanctions under heavy political pressure from the industry and members of Congress from both parties. The administration’s long-awaited “gainful employment” regulation, in the making since nearly the start of Barack Obama’s presidency, aims to force colleges to overhaul or shut down career-training programs that leave students with high debt and too low a salary to repay it. “Why do not-for-profit institutions get excluded from the debate of students graduating with high debt and low salary potential? Why should any school taking money get a free pass on this issue?” Read the full article here: http://www.politico.com/story/2014/10/obama-for-profit-colleges-crackdown-112340.html

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