(Smart Money) — The Department of Education last week proposed new rules for for-profit colleges that would require schools to minimize their students” debt load and demonstrate an effort to prepare them for jobs with salaries sufficient to repay that debt. Schools that don”t meet these rules — which, once finalized, would go into effect next July — would lose their eligibility for federal student aid, meaning that their students wouldn”t be able to receive federal student loans or grants.
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