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Underwood Comments On Rule

Barbara D. Underwood, New York attorney general, is part of a coalition of 17 attorneys general who have submitted public comments to U.S. Education Secretary Betsy DeVos arguing that the further delay of the Gainful Employment Rule’s disclosure requirements is unnecessarily harmful to student borrowers.

The Gainful Employment Rule included a requirement that covered educational institutions provide prospective students with accurate information about their educational programs, including the total cost of the program, the average debt load, the student loan default rate and the average earnings of program graduates to ensure that students fully understand the financial implications of choosing to attend. The disclosures were also intended to address concerns about marketing and recruiting practices by for-profit colleges. Disclosures were required to be provided in schools’ promotional materials, and directly to prospective students before the students make a commitment to the institution.

“Over and over again, the Trump-DeVos Department of Education has put special interests before the students they’re supposed to serve,” Underwood said. “The Gainful Employment Rule is critical to ensuring students can make informed decision about their education – and the Department’s continued delays only leave students vulnerable to exploitation and fraud.”

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