H.R. 3112 · 116th Congress
For-Profit Fraud Act
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Never voted on. It didn't reach a floor vote before the 116th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
WatersSponsorNo cosponsors.
This bill modifies requirements for a proprietary (i.e., for-profit) institution of higher education (IHE) to participate in federal student aid programs.
What it does: CRS summary · Introduced in House · Jun 5, 2019
For-Profit Fraud Act
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. The 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).
The bill requires the Department of Education to notify the Department of Defense (DOD) and the Department of Veterans Affairs (VA) when a proprietary institution becomes ineligible to participate in federal student aid programs and when the institution regains such eligibility. Proprietary institutions that lose such eligibility are then ineligible to receive educational assistance from DOD or VA programs.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: For-Profit Fraud Act
Latest action (Jun 25, 2019): Referred to the Subcommittee on Economic Opportunity.
Policy area: Education · Origin: House · Introduced: Jun 5, 2019
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.