‘Gainful employment’ rules are ‘awful’

 New “gainful employment” rules for student loans are “awful,” ”unfair and discriminatory,” writes Richard Vedder, director of the Center for College Affordability and Productivity.  The regulations apply to vocational programs at career colleges (primarily for-profit) and community colleges. If the goal is to stop wasting government money,”why not scrutinize students majoring in, for example, sociology, from Wayne State University?” he asks.

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  1. There is an easy answer as to why they don’t go after sociology, et al degrees. According to the Census, the predominate degree held in the Northeast is Liberal Arts, The predominant degree in the D.C. area is social science. In the rest of the great unwashed, it is business with pockets of science and engineering.

  2. Perusing the Census site, I found this recent report on alternative educational credentials released in January:

    https://www.census.gov/newsroom/releases/archives/education/cb14-10.html

    “These alternative credentials include professional certifications, licenses and educational certificates. The fields of these professional certifications and licenses were wide-ranging and include business/finance management, nursing, education, cosmetology and culinary arts, among others.

    “The report shows that, in general, these alternative credentials provide a path to higher earnings. Among full-time workers, the median monthly earnings for someone with a professional certification or license only was $4,167, compared with $3,433 for one with an educational certificate only; $3,920 for those with both types of credentials; and $3,110 for people without any alternative credential.”

    These alternative credentials are predominately provided by community colleges and vo/tech schools. Women hold more of the alternative credentials at the Bachelor and above academic levels but men in the high school or less.