For-Profits Under Assault

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The Department of Education has proposed a rule to “require proprietary institutions of higher education and postsecondary vocational institutions to provide prospective students with each eligible program’s graduation and job placement rates, and that colleges provide the Department with information that will allow determination of student debt levels and incomes after program completion.” Although this may sound reasonable, the next step is for the department to evaluate the eligibility of students in order to deny students access to student loans if they deem them unfit for the loan. The proposed regulations provide a massive new regulatory structure over what High School diplomas qualify as satisfactory and provides new regulations defining “satisfactory academic progress.” The bottom line is that these are complex new regulations intended to make it harder for the for-profit educational institutions to operate.

For once I agree with big brother.
Of course they are doing it for the wrong reasons, but I see it as follows...
Remember the University of Phoenix scandals detailing how boiler room cold callers would hard sell single mothers of color and other sensitive groups into getting in debt for life to get a degree, waving unrealistic rosy pictures of a possible fat income in the future?
Many for profits do NOT get their business from "the market" but from artificially pumped "special interest" groups awash in taxpayers' money: that is not my idea of free market, but the USSR would have appreciated it.