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S. 1659

POST Act of 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.

Sponsor introductory remarks on measure. (CR S7912-7913)

Sen. Durbin, Richard J. [D-IL](D-IL)Sponsor
8 cosponsors8 D
8cosponsors1committees3actions1related bills6subjects
  • Introduced in SenateNov 6, 2013
  1. IntroReferralB00100

    Sponsor introductory remarks on measure. (CR S7912-7913)

  2. IntroReferral

    Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (text of measure as introduced: CR S7878-7879)

  3. IntroReferral10000

    Introduced in Senate

POST Act of 2013 — Informed