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Protecting Students and Taxpayers: Changes to For-Profit College Funding

This act aims to protect students and taxpayers by changing the funding rules for private, for-profit colleges. It introduces new requirements for these institutions' revenue sources to limit their reliance on federal aid. This helps ensure students are better protected from unfair practices and taxpayer money is used more effectively.
Key points
For-profit colleges must now get at least 15% of their revenue from non-federal sources, reducing their dependence on government funds.
The definition of federal education assistance funds has been broadened to include most forms of support, with some exceptions for veteran benefits.
Detailed rules for calculating revenue are introduced, including exclusions for institutional loans and certain scholarships.
Annual reporting to Congress on the revenue sources of for-profit institutions is required, increasing financial transparency.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_HR_1222
Sponsor: Rep. Cohen, Steve [D-TN-9]
Process start date: 2021-02-23
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

POST Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_1222.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-02-23.

What are the main provisions?

Key points include:

  • For-profit colleges must now get at least 15% of their revenue from non-federal sources, reducing their dependence on government funds.
  • The definition of federal education assistance funds has been broadened to include most forms of support, with some exceptions for veteran benefits.
  • Detailed rules for calculating revenue are introduced, including exclusions for institutional loans and certain scholarships.
  • Annual reporting to Congress on the revenue sources of for-profit institutions is required, increasing financial transparency.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Cohen, Steve [D-TN-9].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Education and Labor.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

CATEGORIES

Education