Their Satanic Majesties Links—House Votes to Defund “Gainful Employment”

Default: The Student Loan Documentary’s Facebook page related a couple interesting links:

(1) Melissa Linton, “USC Ranked 7th for Debt by CNBC,” in The Daily Trojan

So USC’s graduates carry an average $36,787 in debt. Its law students are charged $10,000 more than they were seven years ago.

(2) Sharona Coutts, “House Passes Amendment to Block Funding of Oversight Measure for For-Profit Schools,” in ProPublica

Arch-nemeses of higher education reform, representatives Virginia Foxx (R-NC) and John Kline (R-MN) sponsored a bill to defund any attempt to monitor enforcement of the yet-to-be-adopted “Gainful Employment Rule” to federal lending to for-profits. Coutts doesn’t believe it’ll pass the Senate, though. If conservatives were serious about balancing the budget, they’d cut the entire federal lending program and change the bankruptcy code to allow student debtors to restructure and spend their money on things they need.

Which leads me to…

(3) Richard Vedder, “From Wall Street to Wal-Mart: Why College Graduates Are Not Getting Good Jobs,” in Center for College Affordability

Dr. Vedder slipped this past me a couple months ago. A very quick and good read.

Here’s your quote of the day:

[R]ecent efforts by President Obama’s U.S. Department of Education to enact and enforce “gainful employment” rules primarily on for-profit higher education institutions are misguided. This report has shown clearly that severe gaps exist between college-level training and labor-market job opportunities for graduates. Underemployment is a persistent problem permeating throughout all of American higher education and is by no means limited to only one sector. Using for-profit institutions as a scape-goat fails to address the full-extent of this problem.


    1. Richard Vedder is good stuff. I looked over your website and will add it to my blogroll. I would’ve liked to’ve seen you take on that sergeant-major!

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