A bill to amend the Higher Education Act of 1965 regarding proprietary institutions of higher education in order to protect students and taxpayers.

Bill 118 s 4701, also known as the "Protecting Students and Taxpayers Act," is a proposed amendment to the Higher Education Act of 1965. The main goal of this bill is to provide increased protection for students and taxpayers who are involved with proprietary institutions of higher education.

The bill includes several key provisions aimed at achieving this goal. One of the main provisions is the requirement for proprietary institutions to meet certain standards in order to receive federal funding. These standards include providing accurate and transparent information to students about the cost and quality of their programs, as well as ensuring that students are adequately prepared for the workforce upon graduation.

Additionally, the bill includes measures to hold proprietary institutions accountable for their outcomes. This includes requiring institutions to track and report on student outcomes, such as graduation rates and employment rates, in order to ensure that students are receiving a quality education that leads to meaningful employment opportunities. Furthermore, the bill includes provisions to protect taxpayers by ensuring that federal funds are being used responsibly and effectively. This includes increased oversight and accountability measures for institutions that receive federal funding, as well as penalties for institutions that fail to meet the required standards. Overall, the Protecting Students and Taxpayers Act aims to improve the quality and accountability of proprietary institutions of higher education in order to better serve students and taxpayers. By implementing these measures, the bill seeks to ensure that students are receiving a quality education that prepares them for success in the workforce, while also safeguarding taxpayer dollars from misuse.