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First on CNN: New Biden administration rule closes loophole incentivizing for-profit colleges to target veterans

First on CNN: New Biden administration rule closes loophole incentivizing for-profit colleges to target veterans
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First on CNN: New Biden administration rule closes loophole incentivizing for-profit colleges to target veterans

First on CNN: New Biden administration rule closes loophole incentivizing for-profit colleges to target veterans
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GI Bill vets may be less attractive to for-profit schools under new law

By: Leo Shane III
“After nearly a decade of requests from veterans and military organizations, we are grateful Congress is moving to finally remove the target from the backs of veterans and servicemembers by closing this loophole,” said Carrie Wofford, president of Veterans Education Success.
“For too long, bad actor colleges have treated veterans and servicemembers as nothing more than dollar signs in uniform.”
At issue is the so-called 90-10 rule, which requires colleges and universities to have at least 10 percent of their revenues derived from non-federal sources like tuition or fundraising.
The idea behind the regulation is to ensure that for-profit institutions aren’t funded solely by federal dollars, essentially using taxpayer money as their only reliable source of income. However, under a loophole in existing rules, GI Bill benefits and Defense Department Tuition Assistance programs are not counted as federal money. ....

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GI Bill vets may be less attractive to for-profit schools under new law

GI Bill vets may be less attractive to for-profit schools under new law
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COVID relief package includes major change in for-profit colleges' rules on GI Bill benefits

COVID relief package includes major change in for-profit colleges’ rules on GI Bill benefits
February 10
Army ROTC cadets walk along the Brown University campus in Providence, R.I., on Oct. 13, 2016. (Steven Senne/AP)
Included in congressional Democrats’ massive pandemic relief plan are rules that could upend for-profit colleges’ ability to recruit and enroll veterans in degree programs by limiting how administrators count GI Bill dollars in their finances.
Advocates have long pushed for the move as a way to ensure that veterans aren’t taken advantage of by schools with questionable credentials and poor employment results. But industry officials say the move will unfairly limit veterans choices in favor of traditional, inflexible collegiate courses. ....

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