This bill amends federal higher education law to establish uniform eligibility standards for foreign medical schools seeking access to federal student loan funding. Currently, three for-profit Caribbean medical schools receive about 75 percent of all federal loans going to foreign medical school students despite being exempt from standards that apply to most other foreign medical schools. The bill requires all foreign medical schools to meet the same criteria, including having at least 60 percent non-U.S. citizen enrollment and ensuring 75 percent of students pass the Educational Commission for Foreign Medical Graduates exam. These new requirements take effect on July 1 following the bill's enactment, though students already enrolled at affected schools can continue receiving loans until they graduate, withdraw, or four years pass—whichever comes first. Congress found that for-profit Caribbean schools have much higher failure rates and worse job placement outcomes than U.S. medical schools, and their students typically graduate with higher debt levels.
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