The U.S. Department of Education announced today is is proposing rescinding a rule offering protections for students from unaffordable debt.
The rule, implemented in 2015, ensures career education programs can't leave graduates with low earnings and high debts.
The rule has undergone several challenges since it's implementation. In a press release, the Department of Education said it aims to "treat all institutions of higher education fairly."
“Students deserve useful and relevant data when making important decisions about their education post-high school,” said U.S. Secretary of Education Betsy DeVos in the statement. “That’s why instead of targeting schools simply by their tax status, this administration is working to ensure students have transparent, meaningful information about all colleges and all programs. Our new approach will aid students across all sectors of higher education and improve accountability.”
James Kvaal, president of The Institute for College Access and Success, said rescinding the rule would let students attend programs that put them in a position where they take out loans they can't repay. He called the announcement "disappointing."
"For the Department to come in at this point when we see the positive impact the rule is already having and basically erase us and turn back the clock ten years, it's really disappointing and it's a little bit scary to think that students could once again be pinned under student debt and in poverty level jobs," he said.
There will be a 30-day public comment period once the proposal is published next week.
