Attention U.S. Secretary of Education

In 2004, after working for 10 years at my present job, I decided to look for something better but after much searching, I discovered that the only way I would be able to better myself would be to finish my degree. Therefore, at the age of 48 I decided to return to school and complete my degree. However, a working professional like me must find a way to return to school, maintain a career, and care for their family.

The person I sold my home to the year before mentioned he was returning to school to complete his Masters Degree at the University of Phoenix. Knowing he was a busy professional himself, I decided to check out the program at the University.

I discovered that the program was tailored to the working professional and therefore, decided to enroll at the University of Phoenix to complete my Bachelors Degree in Accounting, earn a MBA, and sit for the CPA exam. Believing this was my ticket to financial success, I used student loans to pay for my education, believing that upon graduation, I would move into a better job. However, my timing was off for I graduated with my MBA in 2008, the same year the economy started declining. In addition to this, my wife’s job was eliminated in January of this year so we are now a one-income family. This, and not the curriculum at the University of Phoenix, is why I am among those who have applied for a deferment of my student loans.

I still have not found a better job but do not blame the University for this. Instead, I blame it on the down economic cycle the country is currently experiencing. I have experienced economic downturns in my life, and know that even though this one has lasted longer than most, it will end. I also do not regret my decision to continue my education.

Unfortunately, the proposed “Gainful Employment” regulation threatens to take away options for adult learning from individuals like myself. Many in our society have recently lost their jobs. I believe many of them find themselves in the same situation I did in 2004 and need to further their education to find gainful employment. They also need to find work and need a university tailored to the working individual. The “Gainful Employment” regulation threatens to take this opportunity away from them by making it difficult for universities like the University of Phoenix to offer student loans to their students.

I urge you to stop consideration of the “Gainful Employment” regulation option as a means to decrease the percentage of student loans in deferment or default and instead focus on growing our economy so their will be increased opportunities for professionals like myself to earn the resources they need to begin repayment of their student loans.