Bill > S383

This bill, the Protecting Our Students and Taxpayers (POST) Act of 2021, aims to amend the Higher Education Act of 1965 to establish a new "85/15 rule" for proprietary institutions of higher education. This rule requires such institutions to derive at least 15% of their revenue from sources other than federal education assistance funds, such as student tuition, fees, and certain contract arrangements. The bill also repeals the existing "90/10 rule" and makes several conforming amendments to the Higher Education Act. The goal of these changes is to protect students and taxpayers by ensuring proprietary colleges do not rely too heavily on federal funding.