Support for the show today comes from Google Play. It's like a sandbox, but instead of sand in the box

It's filled with audiobooks over a thousand of them to choose from and you can get ten dollars off your first audiobook over ten dollars when you log in with your

Google account at g.co slash play slash explained

Let me know some your boxes residents education expert a lot of college students are going back to school this week and the country's top student loan official marked the occasion by quitting saying that the

current actions being taken by leadership betray families and sacrifice the financial futures of millions of Americans across the country. I think it's a good time to ask what has education secretary Betsy DeVos

but up to mostly deregulation is what she's been up to particularly of for profit colleges education secretary Betsy DeVos is moving to eliminate rules that would put more accountability on poor performing for profit colleges.

Back on August 10th Betsy DeVos moved to get rid of a regulation known as gainful employment. The Obama era gainful employment regulations sought to keep schools from burdening students with debt without providing an education that would give them better job prospects and that allows them to pay back their student loan debt.

Because for profit colleges run on student loans pretty much because for profit colleges like pretty much all of higher education but especially for profit colleges run on federal student loans.

So how exactly was the gainful employment rule put in place to understand why this happened you need to go back to the recession.

Enrollment grew 66% between 2008 and 2011.

Damn okay and between 2000 and 2010 it grew over 300% what yeah so they absolutely blew up basically in the first decade of this millennium.

And is this like DeVoie who are we talking about here who are the big stars of for profit colleges.

Yeah the big names that you know DeVoie University.

Corinthians colleges.

Strayer University.

Kaplan University.

ITT Tech.

The Art Institute of Phoenix.

Art Institute of Colorado.

Ashford University.

Capelli University of Phoenix.

But also there are a lot of like small beauty colleges, cosmology schools, truck driving schools that people haven't heard of that aren't publicly traded or giant corporations that fall into this category too.

...