[libertarian27]

In 2010 a two-year associate's degree from Pittsburgh's Le Cordon Bleu cost $42,660. According to financial aid data for the 2008-09 school year, 47 percent of all students received federal student loans, worth more than $6.5 million to the school.

Looks like the school doesn't have the meatballs to run this without government loan students.

So what's the new criteria for the student loan cut vs expected earnings? what was it before?

[Hawk720]

“Looks like the school doesn’t have the meatballs to run this without government loan students.”

This is the entire issue. Many of these for-profits are basing 80-90% of their budgets on federal loans. Without the loans, the schools will go under.

The regulations have always said that schools had to show that their programs led to ‘gainful employment’ to be able to participate in federal loan programs, but there has never been a ‘test’ or a formula to prove it. The new regulations try to quantify it.

[6SJ7]

Looks like the school doesn't have the meatballs to run this without government loan students.

Meatballs. Ha!