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STATEMENT: Generation Progress on the Department of Education’s Gainful Employment Rule

FOR IMMEDIATE RELEASE

October 30, 2014

CONTACT: Jamal Little

jlittle@americanprogress.org; 202.741.6251

 

Washington, D.C.—Today, the U.S. Department of Education issued a new gainful employment final rule.  In response, Anne Johnson, Executive Director of Generation Progress issued the following statement:

“It is encouraging to see the Department of Education take this important step to issue a gainful employment rule that is, in many ways, stronger than its predecessor.

We are pleased with the improvements in the debt-to-earnings ratio and the announcement of an interagency task force to better coordinate federal and state efforts to hold schools accountable.  While the new gainful employment rule is a step in the right direction, there is still more the Department of Education and Congress can, and should, do to protect the interests of students.  We are disappointed by the exclusion of a cohort default rate, as too many institutions with extremely low completion rates, saddle their students with high debt levels and no degree.

We look forward to working with the Administration to better protect student loan borrowers from predatory practices.”

For more information or to speak with an expert, please contact Jamal Little at jlittle@americanprogress.orgor 202.741.6251.

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