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New Regulations for For-Profits Proposed

This week the Department of Education proposed new regulations to make it simpler for defrauded for-profit college students to have their loans forgiven and bans mandatory arbitration clauses in enrollment agreements.  In addition, the proposal provides ED with the ability to require for-profits to post collateral if officials have concern regarding the institution’s financial stability and requires institutions with financials strains to disclose those problems to current and prospective students.