A federal ‘loophole’ is keeping for-profit colleges alive — and Hillary Clinton wants to close it
|09/28/2016||Posted by BusinessMediaguide.Com under General World News||
For-profit colleges are eligible to receive federal financial aid — just like public and private institutions of higher education.
But unlike public and private schools, for-profits are governed by a federal provision called the “90-10” rule, which mandates that for-profit colleges cannot receive more than 90% of their revenues from federal student aid from the Department of Education (ED).
It may come as a surprise then that funds from the US Veterans Affairs Office (VA), a federal agency, do not count in the 90% category.
Using the post-9/11 GI Bill, the VA pays varying amounts of tuition for up to 36 months read more >>>