Some on the left scapegoat for-profit colleges for the problems of higher education. The Obama administration crafted a set of “Gainful Employment” regulations primarily targeting these programs. If a pool of graduates had too much debt relative to earnings, the government would cut off financial aid to its students. These and other regulations helped drive a sharp decline in for-profit enrollment. But new data released by the Education Department reveals just how misguided these policies were.

It isn’t only for-profit colleges…

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