Yahoo’s Lookout blog has an excellent report by Liz Goodwin detailing the political firestorm that the Department of Education is facing as it attempts to crack down on for-profit colleges that  saddle graduates with billions of dollars in federal loans and little hope of finding a job lucrative enough to ever pay them back.

As Goodwin explains, "A bevy of regulations that would prevent for-profit colleges from misrepresenting their graduate employment rates and from paying admissions officers based on how many new students they sign up are set to go into effect this July."

Read the story here.