116th CONGRESS 1st Session |
To require that all institutions of higher education participating in student financial assistance programs under title IV of the Higher Education Act of 1965 meet certain revenue requirements.
December 19, 2019
Mr. Enzi introduced the following bill; which was read twice and referred to the Committee on Health, Education, Labor, and Pensions
To require that all institutions of higher education participating in student financial assistance programs under title IV of the Higher Education Act of 1965 meet certain revenue requirements.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
This Act may be cited as the “90/10 Accountability for All Act”.
SEC. 2. Expanding the applicability of the 90/10 rule.
(a) In general.—Section 487 of the Higher Education Act of 1965 (20 U.S.C. 1094) is amended—
(1) in subsection (a)(24), by striking “In the case of a proprietary institution of higher education (as defined in section 102(b)), such institution” and inserting “The institution”; and
(i) in the matter preceding subparagraph (A), by striking “a proprietary” and inserting “an”;
(ii) in subparagraph (A), by striking “, except in” and all that follows through “higher education”;
(iii) in subparagraph (C)(iv), by striking “subparagraph (D)(iii)” and inserting “subparagraph (D)(ii)”;
(I) by striking clauses (i) and (ii) and inserting the following:
“(i) in the case of loans made by an institution of higher education on or after July 1, 2012, only the amount of loan repayments received during the applicable institutional fiscal year; and”;
(II) by redesignating clause (iii) as clause (ii); and
(III) in clause (ii), as redesignated by subclause (II)—
(aa) by striking “a proprietary” and inserting “an institution”; and
(bb) by inserting “and” after the semicolon at the end;
(v) by striking subparagraph (E); and
(vi) by redesignating subparagraph (F) as subparagraph (E);
(I) by striking “A proprietary” and inserting “An”; and
(II) by striking “a proprietary” and inserting “an”; and
(ii) in subparagraph (B), by striking “a proprietary” and inserting “an”;
(C) in paragraph (3)(A), by striking “proprietary”; and
(D) in paragraph (4), by striking “proprietary”.
(b) Effective date.—The amendments made by this section shall take effect on July 1, 2020.