The Education Department released a long-awaited set of rules to prevent for-profit colleges from saddling their students with gratuitous loan debt. The new regulations punish those schools where a certain percentage of students cannot repay a portion of their loans, or where graduates' debt burden exceeds a percentage of their income. If for-profit schools do not oblige within four years, the program loses eligibility for federal student aid, which makes up between 80 and 90 percent of the typical for-profit college's revenue. From the Education Department:
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