HR. 713In Committee
Preventing Financial Exploitation in Higher Education Act
Establishes financial penalties and higher excise taxes for very wealthy colleges with poor federal student loan repayment outcomes or tuition increases above set levels
Plain-English overview
What this bill does
Establishes financial penalties and higher excise taxes for very wealthy colleges with poor federal student loan repayment outcomes or tuition increases above set levels
Key points
- Require penalties from wealthy colleges
- Increase excise tax on investment income
Current status
Where it stands
Status
In Committee
Latest action
2025-01-23 — Referred to the Committee on Education and Workforce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Related context
Topics and policy areas
undefinedCivil actions and liabilityEducationEducation programs fundingGovernment lending and loan guaranteesHigher educationStudent aid and college costs