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.
On June 22, the United States Department of Education announced its new information collection system for postsecondary institutions that participate in the Title IV programs to comply with the foreign owner, contract and gift reporting obligations under the HEA.
Senator Maggie Hassan (D-NH) and Senate Minority Whip Dick Durbin (D-IL) have introduced the PROTECT Students Act, which contains numerous provisions intended to target for-profit institutions; however, the collateral impact on independent institutions may be significant.
Congress is poised to give the HEA a much-needed update. The House of Representatives have introduced legislation and discussions are picking up in the Senate, but questions remain as to the scope and timing for completing action.