The higher education news feeds were buzzing this week when the NY Feds released a report on student debt and we watched as shares of for-profit schools took a dip on Wall Street.
- The New York Federal Reserve issued a report showing that the total student debt bubble keeps expanding — total student debt had nearly tripled in the past three years.
- Shares of for-profit education companies sank after Senate Democrats proposed a bill that would strengthen the Department of Education’s oversight of schools. The legislation would require the DoE to conduct reviews of the colleges that are spending more than 20% of their revenue on recruiting and marketing and obtain more than 85% of their revenue from federal student aid programs.
By Marc Apple