US Congress Senate Bill 2640 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 2-0)
Status: Introduced on October 17 2019 - 25% progression, died in committee
Action: 2019-10-17 - Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Pending: Senate Health, Education, Labor, And Pensions Committee
Text: Latest bill text (Introduced) [PDF]

Makes certain institutions of higher education (IHEs) ineligible to receive federal financial student assistance. Specifically, the bill makes for-profit institutions of higher education ineligible to receive such assistance. The bill also makes ineligible any institution that has (1) filed for bankruptcy; (2) been convicted of, or pled nolo contendere or guilty to, a crime involving federal student aid; (3) committed fraud, substantial misrepresentation, or false certification involving federal student aid; or (4) executive officers who were previously employed at an institution receiving federal student aid that closed. Additionally, the bill establishes certain criteria that an IHE must meet to be eligible for conversion from a for-profit IHE to a nonprofit IHE. Before approving such conversion, the Department of Education must publish the application in the Federal Register for notice and comment.

Students Not Profits Act of 2019

Sen. Sherrod Brown [D-OH]

Sen. Elizabeth Warren [D-MA]

Date	Chamber	Action
2019-10-17	Senate	Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

HB4724 (Same As) 2019-10-17 - Referred to the House Committee on Education and Labor.

Type	Source
Summary	https://www.congress.gov/bill/116th-congress/senate-bill/2640/all-info
Text	https://www.congress.gov/116/bills/s2640/BILLS-116s2640is.pdf