A bill to amend the Higher Education Act of 1965 to make for-profit institutions ineligible for Federal student aid and to protect the integrity of nonprofit institutions of higher education.
Students Not Profits Act of 2019
This bill makes certain institutions of higher education (IHEs) ineligible to receive federal financial student assistance.
Specifically, the bill makes for-profit institutions of higher education ineligible to receive such assistance. The bill also makes ineligible any institution that has (1) filed for bankruptcy; (2) been convicted of, or pled nolo contendere or guilty to, a crime involving federal student aid; (3) committed fraud, substantial misrepresentation, or false certification involving federal student aid; or (4) executive officers who were previously employed at an institution receiving federal student aid that closed.
Additionally, the bill establishes certain criteria that an IHE must meet to be eligible for conversion from a for-profit IHE to a nonprofit IHE. Before approving such conversion, the Department of Education must publish the application in the Federal Register for notice and comment.
Referred to the House Committee on Education and Labor.
Introduced in Senate
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
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