New Gainful-Employment Rule Could Change the Game for All Colleges

By Kelly Field

For-profit colleges, with their high rates of student borrowing and default, are the most likely to strike out under the U.S. Education Department's gainful-employment rule, which was formally released on Monday.

But the rule, which will cut off federal aid to programs that fail to meet benchmarks for loan repayment and debt-to-income ratios three times in a four-year period, is a game-changer for all of