House Leaders Agree to Keep Default-Rate Plan

Under pressure from for-profit colleges, Democrats in the U.S. House of Representatives agreed last week to modify a proposal in a key higher-education bill that could have put hundreds of such institutions out of business.

The revised plan, which was included in a "manager's amendment" to legislation to renew the Higher Education Act that the House was expected to debate late last week, would allow colleges to have higher default rates without losing their eligibility to award federal

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