POST Act of 2013
Bill journey · stage 1 of 5
Just introduced
What it doesSummary introduced in senate (Nov 6, 2013)
Protecting Our Students and Taxpayers Act of 2013 or the POST Act of 2013 - 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 just happenedNov 7, 2013
Sponsor introductory remarks on measure. (CR S7912-7913)
Who’s behind it
- Introduced in SenateNov 6, 2013
- Nov 7, 2013IntroReferralB00100
Sponsor introductory remarks on measure. (CR S7912-7913)
- Nov 6, 2013IntroReferral
Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (text of measure as introduced: CR S7878-7879)
- Nov 6, 2013IntroReferral10000
Introduced in Senate