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S 2032 112th Congress Senate Education Congressional oversight Education programs funding Higher education Student aid and college costs Veterans' education, employment, rehabilitation Veterans' loans, housing, homeless programs

POST Act

Introduced: January 23, 2012 Introduced by: Durbin, Richard J. Democratic · Illinois See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 23, 2012
Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (text of measure as introduced: CR S44-45)
Jan 23, 2012
Introduced in Senate
 Plain-English summary Congressional Research Service

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.

What's happening now January 23, 2012

Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (text of measure as introduced: CR S44-45)

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Independent 1