New Bill Would Limit For-Profit College’s Access To Federal Funds
On Veterans Day, the White House announced support for a bill designed to limit for-profit schools’ access to federal funds...
On Veterans Day, the White House announced support for a bill designed to limit for-profit schools’ access to federal funds through the Post-9/11 G.I. Bill.
Under the current law, for-profit schools must get at least 10% of their revenue from nonfederal sources, but the new bill, dubbed the Protecting Our Students and Taxpayers Act of 2015, would increase that requirement to 15%, according to Reveal. The bill also proposes closing a loophole that prevents military tuition assistance from counting against the current 90% rule.
“This loophole has created a perverse incentive for some for-profit colleges to seek out and aggressively – and, sometimes, deceptively – enroll service members and veterans to skirt the law,” said under secretary for education Ted Mitchell in a statement.