SB3355: COLLEGE Act Changing Our Learning, Loans, Endowments, and Graduation Expectations Act
- 1Introduced (current step)
- 2Passed One Chamber
- 3Passed Both Chambers
- 4Became Law
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Bill information
Summary
A bill to require institutions of higher education participating in Federal financial aid programs to pay a percentage of the cost of attendance for each enrolled full-time student, based on the endowment fund of the institution, and for other purposes.
Plain-language summary
The COLLEGE Act would require colleges and universities that accept federal student aid money to use their endowment funds—money saved and invested by institutions—to pay part of student costs. Schools with larger endowments would have to contribute a higher percentage of what it costs to attend. The bill was introduced by Senator Rick Scott and applies only to schools participating in federal financial aid programs. The bill is currently in the introductory stage and has not yet been assigned to a for review.
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SB3355: COLLEGE Act Changing Our Learning, Loans, Endowments, and Graduation Expectatio…