President Joe Biden signed the American Rescue Plan Act of 2021 on March 11. The ARPA includes a major change in the 90/10 revenue test that provides for-profit institutions and their students access to the FSA programs.
California Senate Appropriations Committee Sends Three Postsecondary Bills for Further Action, Shelves Three Others
The California Senate Appropriations Committee returned from recess on August 12 and resumed discussion of the six remaining higher education bills.
California higher education bills remain unresolved during summer break. The seven original bills passed the Assembly, but have undergone amendments in the Senate. Read our summary of the trajectory of the bills over the past few months as we await the Legislature to reconvene on August 12.
Financial statement audits prepared under the Department of Education’s new Audit Guide will involve more detailed 90/10 testing and note disclosures. Read more in the seventh post of our Audit Guide series.