Accurate Income Measure Act of 2017 or the AIM Act This bill requires the Department of Education (ED) to revise gainful employment regulations that require career training programs to meet minimum thresholds with respect to the debt-to-income rates of their graduates. Specifically, the bill requires ED to ensure that those regulations account for estimated underreporting of earned income by graduates of career training programs in cosmetology and related personal grooming arts, holistic health, or massage therapy. Cosmetology, holistic health, and massage therapy career training programs may appeal a zone or failing debt-to-earning rate by submitting alternative earnings data based on the most current Bureau of Labor Statistics earnings data for the Standard Occupational Classification code. Until the date on which ED issues adjustments to its gainful employment regulations, the bill: (1) exempts those programs from the regulations, (2) bans ED from publishing final debt-to-earnings rates for those programs, (3) exempts institutions of higher education that provide those programs from a requirement to report the rates on consumer disclosures relating to gainful employment, and (4) prohibits ED from making those programs ineligible for federal financial aid funds due to the application of the regulations.
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Timeline
Introduced in House
Referred to the House Committee on Education and the Workforce.
Introduced in House
Referred to the House Committee on Education and the Workforce.
Education
Administrative law and regulatory proceduresDepartment of EducationEducation programs fundingGovernment information and archivesGovernment studies and investigationsHigher educationStudent aid and college costsWages and earnings
To direct the Secretary of Education to make reasonable adjustments to earnings data for graduates of cosmetology gainful employment programs.
USA115th CongressHR-4029| House
| Updated: 10/12/2017
Accurate Income Measure Act of 2017 or the AIM Act This bill requires the Department of Education (ED) to revise gainful employment regulations that require career training programs to meet minimum thresholds with respect to the debt-to-income rates of their graduates. Specifically, the bill requires ED to ensure that those regulations account for estimated underreporting of earned income by graduates of career training programs in cosmetology and related personal grooming arts, holistic health, or massage therapy. Cosmetology, holistic health, and massage therapy career training programs may appeal a zone or failing debt-to-earning rate by submitting alternative earnings data based on the most current Bureau of Labor Statistics earnings data for the Standard Occupational Classification code. Until the date on which ED issues adjustments to its gainful employment regulations, the bill: (1) exempts those programs from the regulations, (2) bans ED from publishing final debt-to-earnings rates for those programs, (3) exempts institutions of higher education that provide those programs from a requirement to report the rates on consumer disclosures relating to gainful employment, and (4) prohibits ED from making those programs ineligible for federal financial aid funds due to the application of the regulations.
Administrative law and regulatory proceduresDepartment of EducationEducation programs fundingGovernment information and archivesGovernment studies and investigationsHigher educationStudent aid and college costsWages and earnings