Gov't delays rule opposed by for-profit colleges

[September 25, 2010]  NEW YORK (AP) -- The U.S. Department of Education says it will take more time to finalize new regulations that would cut off federal aid to for-profit college vocational programs with high student debt levels and poor loan repayment rates.

The for-profit college sector has waged an intense campaign against the so-called gainful employment rule.

The government was to publish the rule by Nov. 1.

On Friday, the department said it would publish regulations Nov. 1 that would address sections of the gainful employment rule, but wait until early 2011 to issue the final regulations. It will take more time to consider tens of thousands of comments it has received and hold hearings.

[Associated Press; By ERIC GORSKI]

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