For-Profit Education Stocks Rise as GOP Opposes Tighter Rules
By - Dec 10, 2010 2:24 PM PT
Representative John Kline, the Republican who will head the House Education Committee, said he opposes tighter rules for the for-profit education industry, sending company shares higher.
“I would push back really hard against a bill that might come out of Chairman Harkin’s committee,” Kline, of Minnesota, told Reuters, referring to Senator Tom Harkin, the Iowa Democrat who heads the Senate education committee. Harkin has commissioned a government probe of for-profit colleges and held hearings on their sales tactics, use of government funds and program quality.
A measure of 13 education company stocks advanced 2.6 percent at 4 p.m. New York time.