House Blocks Funding for Gainful Employment Rule

The House of Representatives blocked funding for the Gainful Employment Rule today. The rule would have limited for-profit colleges access to federal funding that makes up a significant portion of these institutions' revenues. Apollo Group APOL, Strayer University STRA, Career Education CECO, and Corinthian Colleges COCO are publicly traded companies that are likely to benefit from this ruling. Currently they are all trading 3% to 5% higher.