The Department of Education
The Department of Education has issued the new Student Tuition and Transparency System (STATS) and Earnings Accountability rule intended to ensure federal student loans support graduate earnings. The rule will require undergraduate programs to demonstrate that graduates will earn more than typical high school graduates. Graduate programs will have to demonstrate that their degree holders earn more than those with bachelor’s degrees. Under Secretary Nicholas Kent said, “If a program cannot show that it leaves its graduates financially better off than if they had never enrolled, it should not be underwritten by federal taxpayers.”
Pray for Secretary McMahon, Under Secretary Kent, and U.S. education officials as they seek to reduce the rates of federal student loan default and delinquency.
