COLLEGE Act

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IntroducedPassed one chamberPassed both chambersBecame law (gold)Resolution agreed to (full, dark)Failed or vetoed (gray)

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Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.

R ScottSponsor

No cosponsors.

Changing Our Learning, Loans, Endowments, and Graduation Expectations Act or the COLLEGE Act

What it does: CRS summary · Introduced in Senate · Nov 29, 2023

Changing Our Learning, Loans, Endowments, and Graduation Expectations Act or the COLLEGE Act

This bill requires institutions of higher education (IHEs) to provide cost-match awards to enrolled students based on the size of the IHE's endowment fund, makes IHEs responsible for a percentage of the student loan balance of students who are in default, and establishes related reporting requirements.

Specifically, the bill requires an IHE that has an endowment fund that is greater than $1 billion to pay the covered percentage of the cost of attendance for each full-time student enrolled at the IHE.

Additionally, the bill requires an IHE to remit to the Department of Education (ED) an annually increasing percentage of the loan balance of students who are in default.

The bill also establishes certain reporting requirements, including by requiring IHEs and ED to report certain metrics related to student debt and academic programs.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: COLLEGE Act

Also known as: Changing Our Learning, Loans, Endowments, and Graduation Expectations Act

Latest action (Nov 29, 2023): Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

Policy area: Education · Origin: Senate · Introduced: Nov 29, 2023

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

No recorded floor vote found.