3.0.0 1939 2023-01-11T13:29:58Z 2023-01-11T13:29:58Z Senate S 2015-08-05 114 sshr00 Health, Education, Labor, and Pensions Committee Senate Standing Referred to 2015-08-05T14:42:00Z 2015-08-05 sshr00 Health, Education, Labor, and Pensions Committee Senate Read twice and referred to the Committee on Health, Education, Labor, and Pensions. IntroReferral 2015-08-05 Introduced in Senate IntroReferral 10000 9 Library of Congress S001181 Sen. Shaheen, Jeanne [D-NH] Jeanne Shaheen D NH N H000338 Sen. Hatch, Orrin G. [R-UT] ORRIN HATCH R UT GRANT 2015-08-05 True Education Academic performance and assessments Education of the disadvantaged Education programs funding Government information and archives Higher education Student aid and college costs Teaching, teachers, curricula Unemployment Education 00 2015-08-05 Introduced in Senate 2016-06-29T15:53:10Z Student Protection and Success Act

This bill amends the Higher Education Act of 1965 (HEA) to make institutions of higher education with low cohort repayment rates ineligible to participate in the federal student loan program and to establish a risk-sharing program to support institutions serving low- and moderate-income students.

The cohort repayment rate is the percentage of borrowers who pay at least one dollar toward the principal of their federal loans over a three-year period. It excludes borrowers who are in default, deferments, mandatory forbearance on repayment of a loan, or the Peace Corps.

Institutions with rates equal to or less than the cut-off rate are ineligible to participate in the federal student loan program under title IV of the HEA for three years. During the first year the bill is in effect, the cut-off rate is 45%. In subsequent years, the rate is the higher of the previous year's rate or 10% below the national average for the same type of institution, but must be below 70%. Institutions may appeal the loss of eligibility within 30 days of being notified by the Department of Education (ED).

The bill requires ED to award grants to institutions with a strong record of supporting low- and moderate-income students and funds the grants by requiring institutions with certain nonrepayment loan balances to make risk-sharing payments.

The institutions may use the grants to increase college access and success for the students using investments and practices such as: awarding additional need-based financial aid, enhancing academic and student support services, and accelerated learning opportunities.

]]> Student Protection and Success Act Display Title Student Protection and Success Act Official Title as Introduced A bill to amend the Higher Education Act of 1965 to provide for institutional ineligibility based on low cohort repayment rates and to require risk sharing payments of institutions of higher education. Introduced in Senate IS Short Titles as Introduced Student Protection and Success Act Introduced in Senate 2015-08-05T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114s1939is/xml/BILLS-114s1939is.xml 2015-08-05 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.