Us Congress 2023-2024 Regular Session

Us Congress Senate Bill SB4565

Introduced
6/18/24  

Caption

Student Protection and Success Act

Impact

The provisions of SB4565 are expected to significantly influence how higher education institutions approach student loan management and financial aid accessibility. By establishing strict criteria for eligibility based on repayment rates, the legislation encourages colleges to improve their student support services and curricular offerings. Institutions will need to focus on increasing their students' employability and academic success to meet the threshold for participation in federal programs.

Summary

SB4565, titled the 'Student Protection and Success Act', seeks to amend the Higher Education Act of 1965 by introducing measures aimed at enhancing the accountability of higher education institutions based on their student loan repayment rates. Specifically, it states that institutions with a cohort repayment rate of 15% or lower will be deemed ineligible to participate in federal student loan programs for three years. This measure is intended to ensure that only those institutions that effectively prepare their graduates for financial success can benefit from federal assistance.

Contention

Despite the potential benefits, the bill has sparked discussions about the implications for institutions that serve predominantly low-income and minority students. Critics argue that penalizing schools based solely on repayment rates may overlook the unique challenges their students face, including economic hardship and systemic barriers to employment. Debates around this issue highlight the need for a nuanced approach that considers the socio-economic variables influencing student outcomes in addition to institutional performance.

Companion Bills

No companion bills found.

Previously Filed As

US SB4701

POST Act of 2024 Protecting Our Students and Taxpayers Act of 2024

US HB9004

POST Act of 2024 Protecting Our Students and Taxpayers Act of 2024

US HB4616

Informed Student Borrowing Act of 2023

US HB8461

Student Loan Reform Act

US HB4986

Student Loan Interest Elimination Act

US SB2557

Student Loan Interest Elimination Act

US HB7880

Accountability in Student Loan Data Act of 2024

US SB1971

Streamlining Accountability and Value in Education for Students Act

US SB4281

Student Loan Forgiveness for Farmers and Ranchers Act

US HB5710

Student Loan Refinancing and Recalculation Act

Similar Bills

US SB4106

Students Bill of Rights Act of 2024

US HB10407

To amend the Small Business Act to reauthorize and modify the Small Business Innovation Research and Small Business Technology Transfer Research programs, and for other purposes.

US HB4054

Accreditation Choice and Innovation Act

US HB9521

Student Food Security Act of 2024

US HB1183

Fair Play for Women Act

US SB4002

Early Childhood Nutrition Improvement Act of 2024

US SB3675

Innovation Zone Act

US SB4580

Pathways to Prosperity Act