Q: Why is Gainful Employment important?
A: Gainful Employment is the U.S. Department of Education’s way of measuring if their investment in your education was helpful to you. They do this by tracking your social security income when you file your tax returns. However while the Barber profession is a very lucrative one, many Barber graduates fail to file a tax return thus limiting social security income tracking. As a result, The Beauty Institute failed the data collection resulting in the following disclosure:
This program has not passed standards established by the U.S. Department of Education. The Department based these standards on the amounts students borrow for enrollment in this program and their reported earnings. If in the future the program does not pass the standards, students who are then enrolled may not be able to use federal student grants or loans to pay for the program, and may have to find other ways, such as private loans, to pay for the program.
Please refer to IES > NCES National Center for Education Statistics for more information about similar programs.