NEW ROCHELLE, NY -- Monroe College was recently featured in a New York Times article on efforts to regulate For-Profit Colleges. The article appeared last month in anticipation of changes to the so-called “gainful employment” rule.
This morning, the Obama Administration released its new proposed “gainful employment” rule, aimed at ending taxpayer support for college programs that claim to train people for careers as medical assistants, air conditioner repair technicians, or software coders, but instead consistently leave their former students with shaky job prospects and insurmountable debt.
The Secretary proposes to amend the regulations on institutional eligibility under the Higher Education Act of 1965, as amended (HEA), and the Student Assistance General Provisions to establish measures for determining whether certain postsecondary educational programs prepare students for gainful employment in a recognized occupation, and the conditions under which these educational programs remain eligible under the Federal Student Aid programs authorized under title IV of the HEA (title IV, HEA programs).
The New York Times article featuring Marc Jerome of Monroe College took a sympathetic look at For-Profit Colleges.
The Bane and the Boon of For-Profit Colleges by Eduardo Porter.
Marc Jerome, the executive vice president of Monroe College, says his business is being unfairly targeted as corrupt.
David Halperin, writing in the Huffington Post, says Porter got it all wrong.
New York Times economic columnist Eduardo Porter has a piece this morning seeking to raise doubts about the Obama administration's proposed "gainful employment" rule. The rule would, eventually, take away eligibility for federal student aid from career training programs that consistently leave their students with overwhelming debt. While Porter does quote some proponents of the rule, overall the piece reflects the misinformation served up by the for-profit college industry and could mislead readers about what's at stake in this debate.
Instead of speaking with students, Porter centers his column on Marc Jerome, vice president of Monroe College, which his family has operated for 80 years. Jerome says his institution serves students well and that his sector is being unfairly singled out by the rule. But the rule treats career training programs equally, whether for-profit, non-profit, or public. For-profit college executives complaining that the gainful employment rule penalizes them is like a bank robber complaining that the bank robbery statute only penalizes bank robbers.
Marc Jerome was named as an industry representative to a special committee to Gainful Employment last summer at which time Talk of the Sound summarized the state of play in the industry:
Over the summer, Talk of the Sound reported Monroe EVP Marc Jerome Named to Obama Administration Committee on Regulation of For-Profit Colleges
These outcome of these negotiations will have a become impact on the nation's for-profit colleges including Monroe College and Marc Jerome has played a central role. While this not be everyone's cup of tea, for those interested in Monroe College this is a big deal.