Bill > HR1222

This bill, the Protecting Our Students and Taxpayers (POST) Act of 2021, aims to amend the Higher Education Act of 1965 to establish new requirements for proprietary institutions of higher education. The key provisions include: (1) requiring proprietary institutions to derive at least 15% of their revenue from non-federal sources, calculated using a specific accounting method; (2) repealing the existing "90/10 rule" which required proprietary institutions to derive at least 10% of their revenue from non-federal sources; and (3) making various conforming amendments to align the new revenue requirement with other sections of the Higher Education Act. The bill's objective is to protect students and taxpayers by ensuring that proprietary institutions are not overly reliant on federal education assistance funds.