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  • Not enacted
    The President has not signed this bill
  • The senate has not voted
  • The house has not voted
      house Committees
      House Committee on Education and the Workforce
      Higher Education and Workforce Training
    IntroducedMay 9th, 2013

Bill Details

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Title

Proprietary Institution of Higher Education Accountability Act

Official Title

To clarify the calculation of cohort default rates for proprietary institutions of higher education under the Higher Education Act of 1965.

Summary

Proprietary Institution of Higher Education Accountability Act - Amends title IV (Student Assistance) of the Higher Education Act of 1965 to require the Secretary of Education, in calculating the cohort default rate for a proprietary institution of higher education, to treat its current and former students who have received a specified forbearance or deferment of over six months on direct loans before the end of the second fiscal year after they enter repayment on such loans, as students who have defaulted on such loans before the end of such second fiscal year. Applies that calculation to forbearances: (1) that have been agreed to by the parties to an insured loan and approved by the insurer, or (2) for borrowers whose educational debt burden equals or exceeds 20% of their income. Applies that calculation to deferments for borrowers who: (1) are seeking and unable to find full-time employment, or (2) have or will experience an economic hardship.

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