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Obama administration rules target for-profit colleges
Obama administration rules target for-profit colleges

The Obama administration on Thursday will publish new regulations intended to target for-profit career colleges that leave students with debts they cannot repay. The U.S. Department of Education rules will sanction schools with students who carry too much debt compared with their earnings after graduation. Programs that fail to meet debt-to-income requirements for two out of three consecutive years would lose eligibility for federal student loans and grants -- the primary revenue stream at for-profit colleges. The for-profit college industry includes schools such as the University of Phoenix, ITT Technical Institute and Everest College, owned by Corinthian Colleges Inc., based in...

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