For-profit colleges have had it made the last few years.
After years of scrutiny and tougher regulation, many for-profit executives made a sigh of relief when Trump—the owner of an unaccredited for-profit college—was elected. Stocks at various for-profit colleges jumped after the election.
They were especially happy when Trump’s Education Secretary Betsy DeVos hired various former for-profit lobbyists and administrators to work in the administration. Steve Gunderson, a former Republican Congressman and head of a for-profit college industry association, said “it’s guaranteed that they will be more friendly.”
But that could change come January.
If Joe Biden and Kamala Harris are elected in November, for-profit colleges will be facing an administration that isn’t as sympathetic to the industry. For-profit higher education experienced the toughest regulation and oversight during the Obama administration. They’ve worked tirelessly—and successfully—to lobby the DeVos Department of Education to roll back those regulations since DeVos took office.