New Biden administration rule closes loophole incentivizing for-profit colleges to target veterans

The Biden administration finalized a new rule Thursday, cracking down on predatory for-profit colleges by doing away with a longstanding loophole that created a financial incentive to target veterans and service members.

For years, closing the loophole, known as the “90/10 rule,” has been a top priority of veterans and military organizations. They have argued that some for-profit colleges use aggressive practices and deceptive marketing to recruit veterans and service members in particular.

Congress included a provision to close the loophole in the American Rescue Plan, a pandemic aid package that was signed into law by President Joe Biden in 2021.

Read more on CNN.


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