College programs that leave graduates underpaid or buried in loans would be cut off from federal money under a proposal issued Wednesday by the Biden administration, but the rules would apply only to for-profit colleges and a tiny fraction of programs at traditional universities.
The Education Department is calling it a significant step toward accountability for the nation's colleges. With more students questioning the value of a degree, the measure aims to weed out low-performing programs and assure students the cost of tuition will pay off in the long run.
