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Student Protection and Success Act

3/13/2024, 3:48 AM

Congressional Summary of S 5072

Student Protection and Success Act

This bill establishes certain consequences for institutions of higher education (IHEs) that have low student loan repayment rates or high student loan balances among their students.

The bill makes an IHE ineligible for federal student financial aid programs for two fiscal years if a certain percentage of its students are not able to start repaying the principal of their loans by specified deadlines.

The Department of Education must award grants to IHEs that have a strong record of supporting low- and moderate-income students. The bill funds the grants by requiring IHEs with certain nonrepayment loan balances to make risk-sharing payments. Grants may be used to increase college access and success for the students using investments and practices such as awarding additional need-based financial aid, enhancing academic and student support services, and establishing or expanding accelerated learning opportunities.

The bill also revises the types of student service expenditures and resources information collected by the National Center for Education Statistics.

Read the Full Bill

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Current Status of Bill S 5072

Bill S 5072 is currently in the status of Bill Introduced since October 11, 2022. Bill S 5072 was introduced during Congress 117 and was introduced to the Senate on October 11, 2022.  Bill S 5072's most recent activity was Read twice and referred to the Committee on Health, Education, Labor, and Pensions. as of October 11, 2022

Bipartisan Support of Bill S 5072

Total Number of Sponsors
1
Democrat Sponsors
1
Republican Sponsors
0
Unaffiliated Sponsors
0
Total Number of Cosponsors
1
Democrat Cosponsors
0
Republican Cosponsors
1
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill S 5072

Primary Policy Focus

Education

Alternate Title(s) of Bill S 5072

Student Protection and Success Act
Student Protection and Success Act
A bill to amend the Higher Education Act of 1965 to provide for institutional ineligibility based on low cohort repayment rates and to require risk-sharing payments of institutions of higher education.

Comments

Sponsors and Cosponsors of S 5072

Jeanne Shaheen
Jeanne Shaheen
New HampshireDemocrat
Todd Young
Todd Young
IndianaRepublican

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