Nearly a year after first proposing it, the Department of Education this morning officially issued the final version of its "Gainful Employment" Rule, which aims to stop for-profit colleges from saddling students with unmanageable levels of debt. As has been noted in numerous news stories, the Department made very large concessions to the for-profit higher education industry. As a result, the initial reaction from consumer advocacy groups has been lukewarm at best. Meanwhile, career college lobbyists remain -- unsurprisingly -- dissatisfied with the changes.
At Higher Ed Watch, we will provide our own analysis of the final regulation after we have thoroughly reviewed it. In the meantime, though, here are some helpful links to find out more about the rule, and to see what the press and various interested parties are saying about it.
The Department announcement of the rule (which has links to the regulation, and supplemental information about it) can be found here.
Here's a selection of coverage from publications that have been covering the fight over this regulation particularly closely:
Bloomberg: For-Profit Colleges Get More Time to Comply With U.S. Aid Rules
Chronicle of Higher Education: For-Profit Colleges Win Major Concessions in Final 'Gainful Employment' Rule
Huffington Post: For-Profit College Regulations: Obama Administration Issues Rules
Inside Higher Ed: Concessions or a Cave-in?
MarketWatch: For-profit schools lead on looser U.S. rule
NPR: Softened' Regulations Issued For For-Profit Schools
New York Times: Education Department Increases Its Regulation of For-Profit Colleges
Washington Post: Federal ‘gainful employment’ rule tightens oversight of for-profit colleges
FOR-PROFIT HIGHER ED INDUSTRY RESPONSES
Statement from the Association of Private-Sector Colleges and Universities (formerly known as the Career College Association)
Statement from the Coalition for Educational Success
CONSUMER ADVOCACY GROUPS' RESPONSES
Statement from the Institute for College Access and Success (TICAS)
Statement from the American Association of University Women
Statement from the American Federation of Teachers
Statement from Campus Progress
Statement from the Council for Opportunity in Education
Statement from The Education Trust
Statement from the Leadership Conference on Civil and Human Rights
Statement from the National Education Association
Statement from Public Advocates Inc.
Statement from U.S. PIRG
Statement from the United States Student Association
Statement from Sen. Tom Harkin (D-IA), the chairman of the Senate Health, Education, Labor and Pensions Committee
Statement from Sen. Mike Enzi (R-WY), the top Republican on the Senate Health, Education, Labor and Pensions Committee
Statement from Sen. Dick Durbin (D-IL)
Statement from Reps. John Kline (R-MN), the chairman of the House Committee on Education and the Workforce, and Virginia Foxx (R-NC), the chairwoman of the panel's higher education subcommittee
Statement from Rep. George Miller (D-CA), the top Democrat on the House Education and the Workforce Committee
Press release from House Democratic supporters of the for-profit higher education industry
THE VIEW FROM WALL STREET
Analysis from Jarrel Price of Height Analytics
Analysis from Trace Urdan of Signal Hill
Report from StreetInsider.com
Report from Bloomberg BusinessWeek
We will update this post throughout the day with links to additional statements as they become available.