A bill to count revenues from military and veteran education programs toward the limit on Federal revenues that certain proprietary institutions of higher education are allowed to receive for purposes of section 487 of the Higher Education Act of 1965, and for other purposes.

Military and Veterans Education Protection Act This bill amends title IV (Student Assistance) of the Higher Education Act of 1965 to revise a requirement, commonly known as the 90/10 rule, which directs proprietary (for profit) institutions of higher education to derive at least 10% of their revenue from nonfederal financial aid sources, or risk becoming ineligible for title IV funding. Currently the rule allows federal educational assistance for military personnel and veterans to count toward the 10%. This bill defines federal educational assistance to include federal educational assistance for military personnel and veterans. Thus, the bill prohibits proprietary institutions from counting federal educational assistance for military personnel and veterans as nonfederal funding sources.