U.S. Department of Education Finalizes Regulations to Protect Student Borrowers, Hold Higher Education Institutions Accountable and Save Taxpayers $11.1 Billion Over 10 Years

WASHINGTON—Today, the U.S. Department of Education finalized regulations that will protect student borrowers, hold higher education institutions accountable and provide financial protections to taxpayers. The Institutional Accountability regulations, posted on the Department’s website today, come after more than two years of deliberations, public hearings, negotiated rulemaking with a wide variety of higher education stakeholders and careful consideration of tens of thousands of public comments.

“If a school defrauds students, it must be held accountable,” said U.S. Secretary of Education Betsy DeVos. “There is no place for fraud in higher education, and it will not be tolerated by this Administration. From the recent college admissions scandal and intentional misrepresentations by schools to boost their U.S. News & World Report rankings to fraudulent marketing practices from proprietary intuitions, too many institutions of higher education are falling short. The new regulations are aimed at preventing this behavior because students deserve better, and all institutions must do better.

Full story at the US Department of Education