Just days after the Department of Education released Gainful Employment Informational Debt Measures and Gainful Employment Informational Loan Medians to institutions, GE is Dead!
On Saturday, United States District Judge Rudolph Contreras struck down Gainful Employment rules in a suit that the Association of Private Colleges and Universities brought against the Department of Education and Secretary Arne Duncan to challenge Gainful Employment rules.
Check out the full text of the legal decision here:
Career Education Corporation was recently in the news as ACICS, the nation’s largest national accreditor threatened to withdraw its approval after the company was unable to substantiate its reported job placement data. ACICS requires schools that they accredit to maintain at least 65% job placement and according to a company news release, all but 13 out of the 49 schools in question met the requirement. The news comes as a growing number of for-profit colleges face scrutiny over their job placement practices. And while many schools are doing a great job meeting accreditation standards, the newest gainful employment regulations could deliver a knockout punch to others. So what’s the solution?
Schools and colleges should manage their career services departments just like they manage their admissions departments. Job placement shouldn’t be an afterthought, it should be the second most important function schools and colleges (and oh hey there private and public colleges, I’m talking to you too) do for their graduating students (the first of course, is providing education). If a school’s admissions office is staffed with five counselors, staff six in career services. If your accreditor sets a low benchmark like 65%, blow it out of the water and achieve 90% and accept nothing less. According to the US Bureau of Labor Statistics, the occupational outlook for a great number of programs taught by for-profits is bright. The secret to success is in managing career services well.