An update to my post last week on Obama's War on Workers. Today the U.S. Chamber's President and CEO posted a commentary on the proposed 800+ regulations on for-profit educational institutions. He writes:
Students would be hurt the most. Enrollment numbers in private sector educational institutions reflect a growing demand from students who come from low-income backgrounds and underserved communities. By throwing down additional financial obstacles, the federal government could prevent them from pursuing a life-changing opportunity.
The Department of Education admits that without the aid tens of thousands of students could be forced out of programs without immediately enrolling somewhere else. Independent studies project that one in five schools wouldn’t meet the standard, and that as many as a third of all students at for-profit institutions would be displaced.
What happens to their job prospects and earning potential then? And where will employers find workers for jobs requiring specific skills? For a nation facing the twin challenges of a skills gap and an income gap, the rule is a pretty dumb idea!