Sen. Banks Introduces PARITY Act to Repeal Federal Funding Limits on For-Profit Colleges
The PARITY Act is currently in the early stages of the legislative process. It was recently introduced in the Senate and sent to the Committee on Health, Education, Labor, and Pensions for review. There are no upcoming votes scheduled at this time.
This is a highly partisan issue that usually lacks the broad support needed to pass through a divided Congress. Similar efforts to remove these regulations have faced strong opposition in the past.
Scores run from -100 (strongly harmful) to +100 (strongly beneficial) for each group, combining impact, certainty, scope, and duration ratings of 1-5. How impact scoring works
Veterans are closely tied to the 90/10 rule's history. GI Bill benefits were previously counted as non-federal revenue under the old version of the rule, which meant some for-profit schools aggressively recruited veterans to help meet their 10% non-federal requirement. Congress changed this in 2021 so that VA benefits count as federal revenue. Repealing the rule entirely would remove this protection, potentially re-exposing veterans to aggressive recruiting by schools primarily seeking their GI Bill dollars rather than providing quality education.
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.
Introduced in Senate
The bill was officially filed and given a number. It now enters the legislative queue.
No votes, news coverage, or related bills recorded for this bill yet.
Document Type
Congressional Bill
Official Title
PARITY Act
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