jul 1, 2011 - GE Rule
Enacted
Description:
The gainful employment rule crafted by the Obama administration goes into effect. This regulation requires vocational programs at for-profit higher education institutions and nondegree programs at community colleges to meet minimum thresholds with respect to the debt-to-income rates of their graduates. Programs that fail to meet these minimum requirements could lose access to all federal financial aid for a period, putting them at a higher risk of closing.
Added to timeline:
Gainful Employment
Timeline of Gainful Employment Policy
Date:
