To amend the Higher Education Act of 1965 to describe the process of converting a proprietary institution of higher education to a nonprofit institution of higher education.
For-Profit College Conversion Accountability Act
This bill establishes certain criteria that an institution of higher education (IHE) must meet to be eligible for conversion from a for-profit IHE to a nonprofit IHE.
An IHE seeking conversion must submit an application to the Department of Education (ED). The application must demonstrate, among other requirements, that the IHE is operated by one or more nonprofit corporations or associations. Before approving the conversion, ED must publish the application in the Federal Register for notice and comment. Upon approval, the IHE must be regulated as a for-profit IHE for a five-year transition period.
ED must also establish an office to carry out the requirements of this bill.
Introduced in House
Introduced in House
Referred to the House Committee on Education and Labor.
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