Key regulatory agenda items will not be completed until July 2024 at the earliest.
The Biden administration is putting off a final proposal on gainful employment and several other regulatory matters until next spring.
The Office of Information and Regulatory Affairs released an update on several negotiated rule-making agenda items that will not be completed this year and are now scheduled for release in April 2023 at the earliest. This includes a new gainful-employment rule, measures of financial responsibility for colleges, standards of administrative capability, certification procedures and ability to benefit.
Additional regulations on for-profit education have been at the center of the negotiated rule-making process that has been ongoing since January. The gainful-employment rule, which many consumer advocates have been calling on the Biden administration to replace, would create a metric that compares the debt a student takes on compared to the income they earn after graduating from a program to determine a program’s eligibility for federal funding.
