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Streamlining Higher Education Ownership Changes and Conversions

New regulations aim to accelerate the merger and conversion processes for higher education institutions, including transitions from for-profit to non-profit or public status. Application fees will fund faster and more thorough reviews, safeguarding student aid funds. Citizens can expect greater transparency and stability in the higher education sector.
Key points
Institutions will pay fees for ownership change or conversion applications, intended to fund faster processing by the Department of Education.
A 90-day deadline is set for application review; if unmet without good cause, the application will be automatically approved.
Institutions converting from for-profit to non-profit will be monitored for 5 years to prevent financial impropriety, with a portion of fees going to the IRS.
Increased transparency: The Department of Education will publish reasons for decisions and required application documents, simplifying the process for institutions.
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Additional Information
Print number: 117_HR_7031
Sponsor: Rep. Keller, Fred [R-PA-12]
Process start date: 2022-03-09
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Change of Ownership and Conversion Improvement Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_7031.

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 2022-03-09.

What are the main provisions?

Key points include:

  • Institutions will pay fees for ownership change or conversion applications, intended to fund faster processing by the Department of Education.
  • A 90-day deadline is set for application review; if unmet without good cause, the application will be automatically approved.
  • Institutions converting from for-profit to non-profit will be monitored for 5 years to prevent financial impropriety, with a portion of fees going to the IRS.
  • Increased transparency: The Department of Education will publish reasons for decisions and required application documents, simplifying the process for institutions.
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. Keller, Fred [R-PA-12].

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 2025-12-28.

CATEGORIES

Education