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Closed For-Profit Schools

           The Obama administration will begin choking off the financial lifeline of for-profit colleges whose graduates can’t find well-paying jobs — and the move is likely to accelerate a wave of shutdowns for an industry taking assaults from all sides.

Reining in the multibillion-dollar industry has been the administration’s goal for most of President Barack Obama’s term in office, fueled by complaints that for-profit colleges lure students with misleading promises, then saddle them with debts they can’t pay back despite their newly granted degrees. Its latest tool is the Education Department’s long-debated “gainful employment” rule, which requires colleges to track their graduates’ performance in the workforce and eventually will cut off funding for career training programs that fall short.

          The gainful employment regulation applies to community colleges and public universities as well, but for-profit programs fare worst under the rule’s key evaluation metric, a debt-to-earnings ratio. The industry, which collected about $22 billion in taxpayer loans and Pell Grants in 2013, says it’s being unfairly targeted, punished by the government for enrolling high-risk students — first-generation, adult, low-income and the like — who are less likely to repay loans but need access to the flexible models that for-profits provide.

Below Are a List of Already Closed For Profit Schools:

These For-Profit Colleges are in the process of closing:

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