The Biden administration is finalizing a new rule that would cut federal funding for colleges that leave graduates with low pay and high debt after graduating.

<div class="block">The Biden administration is finalizing a new rule that would cut federal funding for colleges that leave graduates with low pay and high debt after graduating.</div>

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Colleges Could Lose Federal Funding Under New Biden Rule

Biden administration is finalizing a new rule that would cut federal funding for universities that leave graduates with low pay and high debt. After graduation, the policy would mostly affect for profit colleges and some programs at traditional universities. The education department says it's a way to hold us universities accountable. It will also help weed out low performing programs and guarantee the cost of tuition will pay off in the long run for students. The Biden administration said yesterday the new rule will be released on October 10 and is set to go into effect in July of 2024 and colleges could start losing federal money by 2026.