After Corinthian, scrutiny on college grad jobs may widen (OC Reg)
*Re the graphic: a massive bubble has been building for years. It is the mountain of money necessary to bail out defaulted loans for benighted students at those worthless for-profit colleges and training schools (U of Phoenix, Corinthian, etc.). Yep, the for-profits are the big offenders. Their staunch defenders? Republicans. Without fail. It's their love of the "free market," you see. But the taxpayer is on the hook. Are you sensing a pattern?
This month, a regulation went into effect cutting federal money to career-training programs whose graduates – like many of those from shuttered Corinthian Colleges – can’t find decent jobs.
The Obama administration touted the new rule as its signature effort to make the for-profit college industry more accountable. But to some, the new “gainful employment” rule raises a question:
Why stop with career schools?
. . .
The Obama administration, amid pressure from public and nonprofit colleges, last month canned the closest proposal it had for measuring performance at all schools….