June 13, 2016 - Washington, DC - The below can be attributed to Steve Gunderson, president and CEO of Career Education Colleges and Universities:
"The regulation put forth today by the U.S. Department of Education will cause millions of students to lose access to higher education and leave American taxpayers on the hook for billions of dollars. How this will increase the number of career ready graduates, is unclear.
"We agree that poor performing institutions, as well as those institutions that are financially at risk, should be monitored closely to protect students. But what the Department fails to acknowledge is that these issues exist across all of higher education, not just private sector institutions. The Department is attempting to mislead the Congress and taxpayers about the impact of this proposed regulation. The truth is the steps the Department is taking today puts the future of career education in America at risk. If the Department limits career education opportunities for new traditional students, it will deny millions of Americans a pathway to improving their lives and growing the American economy.
"The complex and burdensome nature of this regulation will crush career education with financial requirements not imposed on others in higher education – including institutions that have lower graduation rates and higher default rates.
"As the final months of the Administration wind down, the Department is advancing an ideological effort instead of finding ways to work cooperatively with the Congress and higher education stakeholders to advance meaningful reauthorization of Higher Education Act.
"We hope they will put aside this foolish and costly proposed regulation, but based on their poor track record we doubt they will listen to voices of reason."