EDUCATION DIVE: PRO Students Act would add new regulation to for-profits
Career College Central Summary:
New legislation presented in Congress aims to limit the for-profit college industry with new financial regulations, additional record-keeping requirements, and a stronger set of sanctions for violations.
Business Insider reports the PRO Students Act would require for-profit colleges to get at least 15% of their revenue from sources outside of federal student aid dollars and would prohibit them from using the federal money for recruitment and marketing.
The legislation would also create a new complaint system for students to file grievances and set aside money for a Student Relief Fund, according to the article.
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