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.
Changing Our Learning, Loans, Endowments, and Graduation Expectations Act or the COLLEGE Act
This bill requires institutions of higher education (IHEs) to provide cost-match awards to enrolled students based on the size of the IHE's endowment fund, makes IHEs responsible for a percentage of the student loan balance of students who are in default, and establishes related reporting requirements.
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