Our weekly education news roundup is back! And what a week it was.
Higher Education Act proposals in the House
"One of the biggest winners in the new higher education legislation is the for-profit college industry." That's according to The Wall Street Journal, which got an early summary copy of the House Republican proposal to reauthorize the Higher Education Act this week. This is the main federal higher education law. The full text of the bill is found here and is 542 pages long.
This proposal is a long, long way from becoming law. In fact, the HEA is already three years overdue for reauthorization.
But the ideas here are worth watching nonetheless, especially because of parallel actions happening at the Education Department and potentially at the Consumer Financial Protection Bureau as well.
The House proposal would ease several regulations on for-profit and online colleges, including the so-called "gainful employment" rule. It makes securing forgiveness of loans under "borrower defense" more difficult. It introduces the idea that all colleges should have "skin in the game" by losing eligibility for federal aid if too many of their students are unable to repay their loans. It also places caps on student loans.