S.2032 - POST Act

A bill to amend the Higher Education Act of 1965 regarding proprietary institutions of higher education in order to protect students and taxpayers. view all titles (3)

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  • Official: A bill to amend the Higher Education Act of 1965 regarding proprietary institutions of higher education in order to protect students and taxpayers. as introduced.
  • Short: POST Act as introduced.
  • Short: Protecting Our Students and Taxpayers Act as introduced.

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Introduced
 
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House
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President
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01/22/12
 
 
 
 
 
 
 

Official Bill Text Comment on about 7 Pages

Sponsor

Senator

Richard Durbin

D-IL

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Official Summary

1/23/2012--Introduced.Protecting Our Students and Taxpayers Act or POST Act - Amends title IV (Student Assistance) of the Higher Education Act of 1965 to require proprietary institutions of higher education to derive at least 15% of their revenue from sources other than federal funds or be
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Official Summary

1/23/2012--Introduced.Protecting Our Students and Taxpayers Act or POST Act - Amends title IV (Student Assistance) of the Higher Education Act of 1965 to require proprietary institutions of higher education to derive at least 15% of their revenue from sources other than federal funds or become ineligible for title IV funding. (Currently, the 90/10 rule requires these schools to derive at least 10% of their revenue from sources other than title IV or become ineligible for title IV funding.) Defines "federal funds" as federal financial assistance provided through a grant, contract, subsidy, loan, guarantee, insurance, or other means to a proprietary institution, including federal financial assistance that is provided to an institution on behalf of a student or to a student to attend the institution. Excludes monthly housing stipends provided under the Post-9/11 Veterans Educational Assistance program from consideration as federal funds. Limits what a proprietary institution may treat as revenue to the school in calculating whether it derives at least 15% of its revenue from non-federal funds.

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