POST Act

Summary

Protecting Our Students and Taxpayers Act or POST Act - Amends title IV (Student Assistance) of the Higher Education Act of 1965 to require proprietary institutions of higher education to derive at least 15% of their revenue from sources other than federal funds or become ineligible for title IV funding. (Currently, the 90/10 rule requires these schools to derive at least 10% of their revenue from sources other than title IV or become ineligible for title IV funding.) Defines "federal funds" as federal financial assistance provided through a grant, contract, subsidy, loan, guarantee, insurance, or other means to a proprietary institution, including federal financial assistance that is provided to an institution on behalf of a student or to a student to attend the institution. Excludes monthly housing stipends provided under the Post-9/11 Veterans Educational Assistance program from consideration as federal funds. Limits what a proprietary institution may treat as revenue to the school in calculating whether it derives at least 15% of its revenue from non-federal funds.

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Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 23 January 2012

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 23 January 2012

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 23 January 2012

  Open at official source

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