To revise the 90-10 rule under the Higher Education Act of 1965, and for other purposes.
For-Profit Fraud Act
This bill modifies requirements for a proprietary (i.e., for-profit) institution of higher education (IHE) to participate in federal student aid programs.
Current law requires a proprietary IHE to derive at least 10% of its revenue from sources other than federal student aid. The bill requires a proprietary IHE to derive at least 15% of its revenue from sources other than federal funds (i.e., it replaces the so-called 90/10 rule with an 85/15 rule).
The bill requires the Department of Education to notify the Department of Defense (DOD) and the Department of Veterans Affairs (VA) when a proprietary institution becomes ineligible to participate in federal student aid programs and when the institution regains such eligibility. Proprietary institutions that lose such eligibility are then ineligible to receive educational assistance from DOD or VA programs.
Introduced in House
Introduced in House
Referred to the Committee on Education and Labor, and in addition to the Committees on Armed Services, and Veterans' Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Education and Labor, and in addition to the Committees on Armed Services, and Veterans' Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Education and Labor, and in addition to the Committees on Armed Services, and Veterans' Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Subcommittee on Military Personnel.
Referred to the Subcommittee on Economic Opportunity.
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