Community colleges have seen a significant rise in enrollment since the economic slowdown began, due in part to the need for retraining into careers that are more lucrative and recession-proof. As waiting lists for community colleges across the country continue to grow, some students are turning to vocational, for-profit colleges to meet their academic needs in the interim. Unfortunately, certain rather unscrupulous practices by these for-profit institutions have resulted in federal regulations that will negatively affect the community college environment as well.
What is the Gainful Employment Rule?
While community colleges offer associate's degrees in a wide range of subjects, they also provide specific job training in particular fields that takes less time to complete. For-profit institutions also offer these training programs to help students get through school and into the workforce as quickly as possible. Unfortunately, some of these training programs do not offer the necessary preparation in fields that are demanding new hires, leaving students without gainful employment and additional debt from their schooling that they cannot pay.
To address this concern, the Federal Department of Education has put forth a rule known as the Gainful Employment Rule. This regulation will discourage career colleges from providing misleading information about the employment prospects students can expect after completing their training. The rule targets predatory career colleges that purposely provide inaccurate industry information and encourage students to take out loans for career training that has little chance of producing a lucrative job –
