PARITY Act
Sponsored By: Senator Banks, Jim [R-IN]
Introduced
Summary
This bill would repeal the "90/10" revenue test for proprietary (for‑profit) schools that participate in Title IV student aid programs. It removes paragraph (24) in subsection (a) and subsection (d) of section 487 of the Higher Education Act of 1965, so those institutions would no longer be required to derive a minimum share of revenue from non‑Title IV sources. The text does not add any other programmatic, funding, eligibility, enforcement, or sunset provisions.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
For-profit colleges lose 90/10 rule
This bill would repeal the federal "90/10" revenue rule for for-profit colleges that take Title IV student aid. It would remove paragraph (24) of subsection (a) and subsection (d) of section 487 (20 U.S.C. 1094). The repeal would take effect upon enactment. Colleges would no longer have to meet a minimum share of non‑federal revenue. If enacted, students and families would see changes in recruiting, program options, or tuition.
Sponsors & CoSponsors
Sponsor
Banks, Jim [R-IN]
IN • R
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov