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Ask any student studying in the Pennsylvania State University and they will tell you that the cost of education today is four times what it was in 1986. As compared to students of that period, today, they are unable to find lucrative jobs with ease in the market and this in turn makes it very difficult for them to pay off their huge student debts. Many students, even after completion of education, are left in the lurch, struggling with their loans.

Gainful employment rule is seeking to be enacted by the Obama administration in a bid to protect students from these phenomenal debts. According to this rule, institutions that charge exhorbitantly where the debts taken by students are much higher than their expected salary after graduation, will be pulled up and punished.

Punishment for these institutions includes reducing significantly the Federal financial aid for students. This is indeed a heavy penalty as the survival of institutions depends on the very extension of student loans.

The aim of the government of course, is to prevent the harassment of unsuspecting students from predatory institutions. However, looking closely, we find that rather than protecting them, this rule may actually be hurting students. The draft of the rule as it is will affect only for-profit colleges that offer vocational education.

These institutions are indispensible in helping students enter the workforce after mastering the required skills. These are the institutions that often fill the gap left by traditional colleges and universities and they effectively reach out to students who are unable to attend these colleges and universities for various reasons including financial and academic.

For example, in Pennsylvania, many students would not have had a chance if not for the vocational schools. Prospective students unable to pursue university or college education due to financial and academic reasons reach out for opportunities like the Penn State and other four year universities.

So, does it need to be pointed out that it is grossly unfair targeting these for profit schools? Even at the regular colleges, students have the chances of accumulating huge student debts just as in for profit institutions. So, it is not logical to distinguish between these two types of schools and put one of them through severe restrictions.

This law also fails to take into account factors that are responsible for students being unable to pay their student loans back. Their ability to earn good wages does not depend entirely on education alone. There are many other factors apart from this that creates the situation.

According to this rule, if for any reason, a student is not inclined to work and take care of his family and debt, then the school is responsible. If students graduate when the economy is struggling and are unable to find lucrative jobs, again, the school is responsible. For factors beyond their control, these schools will face sanctions.

We can see with clarity how the gainful employment rule is only going to severely diminish educational opportunities for students. With scarce funding, most private institutions will be forced to shut down and deserving students will be left with no other option.