This bill would eliminate special exemptions that have allowed certain for-profit medical schools operating in the Caribbean to receive federal student loan funding without meeting the same eligibility standards required of other foreign medical schools. Currently, three Caribbean for-profit schools receive roughly three-quarters of all federal Title IV funding going to students at foreign graduate medical schools, despite having significantly higher student dropout rates and lower residency match rates compared to U.S. medical schools. The bill would require all foreign medical schools to meet consistent standards, including demonstrating that at least 60 percent of enrolled students and graduates are not foreign nationals, and that 75 percent of exam takers pass the Educational Commission for Foreign Medical Graduates exam. Students currently enrolled at schools that lose eligibility under this change would be allowed to continue receiving federal loans through graduation or until June 30 four years after the bill's enactment, whichever comes first. The legislation aims to increase accountability and protect American students and taxpayer dollars by ensuring that federal funding goes to medical schools with better graduation rates and licensing exam outcomes.