Na, the for-profit industry was running wild from 2005-2010. They had to be reigned in. However, the entire gainful employment concept took a single phrase in the Higher Education Act and used it to write a comprehensive law tying the access to student aid to employment outcomes of graduates of for-profit schools.
Courts ruled that the agency could only track Title IV recipients. The for-profits protested and said that all universities should be held to the same standard. The private HBCUs supported the for-profits because a lot of them had worse numbers than the big for-profit colleges when you compared college debt to earnings. They recognized that if the agency ever expanded the law, a lot of private HBCUs would eventually be kicked out of the Title IV program.