Vote Smart's Synopsis:

Vote to pass a bill that requires the revocation of for-profit colleges' licenses to award degrees if certain graduation requirements are not met, effective immediately.

Highlights:

• Requires the Secretary of Higher Education to revoke a “proprietary school’s” license to award academic degrees if, after 6 full academic years following the implementation of this bill, the school does not accomplish the following (Sec. 1):
• Achieve a 3 year graduation rate of at least 75 percent for full-time students enrolled in a 2 year degree program; or
• Achieve a 6 year graduation rate of at least 75 percent for full-time students enrolled in a 4 year degree program.

• Defines “proprietary school” as a postsecondary institution that is operated for profit and which has been authorized to offer licensed degree programs (Sec. 1).

• Specifies that if a proprietary school is not on track to achieve the minimum graduation rates specified under the provisions of this bill but is making “sufficient progress” toward achieving those rates, the Secretary may allow the school additional time to achieve those rates (Sec. 1).

Full Bill Text