A penalty for college programs that trap students in debt
For decades, the federal government has gone back and forth on the best way to solve the problem of workers who struggle to earn a living after graduating from the country’s for-profit colleges or career training programs. The Obama administration first laid out specific metrics requiring schools who want access to a lucrative stream of government funds to prove that its graduates are prepared for “gainful employment” and don’t end up with lots of student debt relative to their income. But Obama’s team never fully implemented its rules after lengthy legal fights. The Trump administration eventually scrapped the effort. Then Biden won office, and revived Obama’s plan — with a twist.