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Higher Ed in the News

For-profit college student debt focus of proposed rules

March 24, 2010

Rules proposed by the U.S. Department of Education will required for-profit colleges to ensure that new graduates' monthly student loan payment are less than 8 percent of their anticipated median gross income in a 10-year repayment plan.

The draft recommendation comes as student debt nationally has snowballed — particularly among those seeking degrees at for-profit schools.

About 96 percent of students graduating from for-profit colleges with bachelor's degrees owe money when they finish, according to the College Board.

But for-profit officials say the proposed rules are too harsh and are meant to limit their prosperity — or push them out of business.


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