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Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (text: CR S3322-3323)
6/11/2019 • Senate
Summary
Protecting Our Students and Taxpayers Act of 2019 or the POST Act of 2019
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. This 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).
Additionally, the bill limits what a proprietary institution may treat as revenue to the school in calculating whether it derives at least 15% of its revenue from sources other than federal funds.
Finally, the bill makes compliance with the 85/15 rule a condition of institutional eligibility to participate in federal student aid programs (i.e., failure to comply results in immediate loss of institutional eligibility). Currently, a proprietary IHE must violate the rule for two consecutive years before losing eligibility.
Introduced in Senate • 6/11/2019
Topics & Subjects
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Sponsor & Cosponsors (9)
Party Breakdown
Sponsor
Cosponsors (8)
Bill Journey
Originated in the Senate
Introduced
June 11, 2019
Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (text: CR S3322-3323)
Committee Review
Floor Debate
Passed Chamber
Other Chamber
President
Enacted into Law