Trump officials plan to cut 2nd rule policing for-profits

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The Trump administration plans to roll back another major Obama-era rule that was created to police the for-profit college industry.

Education Department officials on Friday issued a proposal to rescind so-called gainful employment rules.

The 2014 regulation threatened to cut federal funding to for-profit colleges that left graduates with high ratios of debt compared to their incomes.

Federal officials now argue the rule wasn't backed up by research and created burdensome reporting requirements.

The Education Department estimates revoking the rule will add $5.3 billion in federal costs, mostly for funding that otherwise would have been cut from programs.

Last month, Education Secretary Betsy DeVos proposed scaling back another Obama-era rule aimed at helping defrauded students get their loans erased.

Most for-profit colleges have been opposed to both rules.

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