85/15 Rule Act

Bill: 115-hr-2743
Sponsor: full_name: Rep. Waters, Maxine [D-CA-43]
Introduced: 2017-05-25
Policy area: Education
Subjects: Education programs funding

Higher education
Latest action: action_date: 2017-05-25
text: Referred to the House Committee on Education and the Workforce.

Summaries:
action_date: 2017-05-25
action_desc: Introduced in House
text: <p><b>85/15 Rule Act</b></p> <p>This bill amends title IV (Student Assistance) of the Higher Education Act of 1965 to require proprietary institutions of higher education to derive at least 15% (currently 10%) of their revenue from non-federal sources or risk becoming ineligible for title IV funding. </p>

tv_txt: I 115th CONGRESS 1st Session H. R. 2743 IN THE HOUSE OF REPRESENTATIVES May 25, 2017 Ms. Maxine Waters of California introduced the following bill; which was referred to the Committee on Education and the Workforce A BILL To amend the Higher Education Act of 1965 to require that proprietary institutions of higher education derive not less than fifteen percent of revenues from sources other than funds provided under title IV of such Act.

1. Short title This Act may be cited as the 85/15 Rule Act . 2. 85/15 Rule Section 487(a)(24) of the Higher Education Act of 1965 ( 20 U.S.C. 1094(a)(24) ) is amended by striking ten and inserting fifteen . 3. Effective date This Act shall take effect with respect to award year 2018–2019 and each succeeding award year.