Why Is Obama Administration Targeting Career Colleges?

Larry Penley asks this question in an OpEd for AOL News, attacking the gainful employment proposal:

The rule would set absolute limits on the amount of debt students can carry based on their earnings at the beginning of their careers. The rule is meant to reduce student debt, but it would actually limit students in some careers from being able to get federal loans and grants that come from Title IV federal funding.

Many students need financial aid in order to go back to school; the gainful employment rule, if adopted, would consequently limit them from attending career colleges that prepare them to get a job. Americans will either be unable to attend the schools of their choice or they will be forced to use more costly and restrictive lending.

I'll have a blog up to discuss the rule shortly.