Two important pieces of higher education news hit headlines on Wednesday. First, the University of Idaho will acquire the University of Phoenix, a for-profit giant, and manage it as a fully-online nonprofit entity going forward. Phoenix will maintain its current leadership.
Second, the Biden administration released its proposed Gainful Employment (GE) rule, which would deny federal funding to certain higher education programs where graduates’ debts are too high or their earnings are too low. While more accountability for federally-funded colleges is a welcome step, the rule is narrow in scope: it applies only to for-profit institutions and certificate programs.
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