PARITY Act

This legislative proposal, titled the Promoting Access and Revenue Integrity Through Institutional Transparency Act or the PARITY Act , aims to eliminate a specific financial regulation impacting proprietary educational institutions. Its primary purpose is to repeal the 90/10 rule as it applies to these schools under Title IV of the Higher Education Act of 1965. The bill achieves this by amending Section 487 of the Higher Education Act, specifically by repealing paragraph (24) of subsection (a) and entirely repealing subsection (d). This action would remove the requirement that proprietary schools derive no more than 90% of their revenue from federal student financial assistance programs, thereby altering their funding structure. The repeal intends to provide regulatory relief and potentially increase proprietary schools' reliance on federal funding.