The Department of Education on Thursday denied a request from the Center for Excellence in Higher Education, a Utah-based chain of career colleges, to switch its status to nonprofit for federal financial aid, leaving the chain unable to shake loose regulations aimed at for-profit schools. There are distinct benefits to being designated a nonprofit school. Beside the millions of dollars saved in taxes, nonprofit schools are not subject to what’s called the 90/10 rule, which bars for-profit colleges from getting more than 90 percent of their operating revenue from federal student aid funding. And very few nonprofits have to contend with rules that limit how much debt students amass in career-training programs and require them to ensure graduates of those programs attain “gainful employment.”

August 11, 2016 ・ From The Washington Post