The regulatory environment for higher education has been growing stricter under President Joe Biden’s administration, with many changes at the federal level putting pressure on for-profit institutions. Earlier this year, the U.S. Department of Education unveiled a policy making private college owners financially liable in situations like their students requiring loan forgiveness. The department also reached consensus on changes sharpening the 90/10 rule, which prohibits for-profit colleges from receiving more than 90% of their revenue from federal student aid.
