3.0.0 2993 2023-01-11T13:25:04Z 2023-01-11T13:25:04Z Senate S S 2014-12-10 113 sshr00 Health, Education, Labor, and Pensions Committee Senate Standing Referred to 2014-12-10T16:36:00Z Higher Education Affordability Act 113 2954 S 2014-11-20 Read twice and referred to the Committee on Health, Education, Labor, and Pensions. Related bill CRS 2014-12-10 sshr00 Health, Education, Labor, and Pensions Committee Senate Read twice and referred to the Committee on Health, Education, Labor, and Pensions. IntroReferral 2014-12-10 Introduced in Senate IntroReferral 10000 9 Library of Congress M001169 Sen. Murphy, Christopher [D-CT] Christopher Murphy D CT S. N H000206 Sen. Harkin, Tom [D-IA] THOMAS HARKIN D IA RICHARD 2014-12-10 True Education Academic performance and assessments Advisory bodies Civil actions and liability Congressional oversight Department of Education Education of the disadvantaged Education programs funding Executive agency funding and structure Government lending and loan guarantees Government studies and investigations Higher education Performance measurement Student aid and college costs Education 00 2014-12-10 Introduced in Senate 2015-01-06T19:16:24Z Students Before Profits Act - Amends title IV (Student Assistance) of the Higher Education Act of 1965 (HEA) to require the Secretary of Education to: (1) use corrected data and information to recalculate the cohort default rates for institutions of higher education (IHEs) that have engaged in default manipulation, and (2) use the recalculated cohort default rates to redetermine whether those IHEs are disqualified from participating in title IV programs. (The cohort default rate represents the percentage of a school's borrowers who begin to repay Federal Family Education Loans [FFELs] or William D. Ford Federal Direct Loans [DLs] in a fiscal year but default on those loans before the end of the second fiscal year following the fiscal year they began repaying them.)

Directs the Secretary to establish an Institutional Risk-Sharing Commission to study and make recommendations for the implementation of a new risk-sharing system that holds IHEs that participate in the DL program financially accountable for poor student outcomes.

Authorizes the Secretary to:

  • impose a civil penalty on IHEs that engage in certain substantial misrepresentations or other serious HEA violations;
  • impose smaller civil penalties on IHEs that engage in less serious title IV violations;
  • impose employment sanctions and civil penalties against the officer of an IHE who knowingly and willfully, or with gross negligence, violates a title IV provision;
  • limit, suspend, or terminate an IHE's participation in title IV programs for violating a title IV provision or any applicable special arrangement, agreement, or limitation; and
  • take emergency action to withhold funds from an IHE or its students and withdraw the IHE's authority to obligate title IV funds in certain circumstances where immediate action is required to prevent the misuse of federal funds.

Provides for the use of the civil penalties to: (1) conduct program reviews and ensure the integrity of IHEs participating or seeking to participate in title IV programs; and (2) finance a Student Relief Fund that is to be used to provide financial relief to any student enrolled in an IHE that fails to comply with the HEA's eligibility requirements or the terms of its title IV program participation agreement or that has been sanctioned pursuant to this Act's penalty provisions.

]]> Students Before Profits Act Display Title Students Before Profits Act Official Title as Introduced A bill to amend the Higher Education Act of 1965 to improve the determination of cohort default rates and provide for enhanced civil penalties, and to authorize the establishment of an institutional risk-sharing commission. Introduced in Senate IS Short Titles as Introduced Students Before Profits Act Introduced in Senate 2014-12-10T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-113s2993is/xml/BILLS-113s2993is.xml 2014-12-10 Read twice and referred to the Committee on Health, Education, Labor, and Pensions. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.