PARITY Act
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Overview
The PARITY Act aims to eliminate the 90/10 rule, which currently limits the amount of federal financial aid proprietary schools can receive compared to tuition revenue. This rule requires these schools to demonstrate that 90% of their revenue comes from tuition and fees. By repealing this provision, the bill seeks to provide more equitable access to federal student aid for students attending these institutions. The bill focuses on transparency and aims to remove a regulatory hurdle for proprietary schools.
Key provisions
- Repeals paragraph (24) of section 487 of the Higher Education Act of 1965.
- Repeals subsection (d) of section 487 of the Higher Education Act of 1965.
- Addresses the 90/10 rule for proprietary schools.
- Aims to increase federal student aid access for these schools.
- Focuses on institutional transparency.
Who is affected
- Proprietary schools
- Students attending proprietary schools
- The Department of Education
- Federal student aid programs
Notable changes
- Eliminates the 90/10 rule regarding federal student aid distribution to proprietary schools.
- Changes to section 487 of the Higher Education Act of 1965.
Bill text
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Sponsors
Official sponsors from legislative records.
4 on record
Primary sponsor
Cosponsors
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