Repeals the 90/10 rule for proprietary schools under the Higher Education Act of 1965.
The Promoting Access and Revenue Integrity Through Institutional Transparency Act, also known as the PARITY Act, seeks to amend the Higher Education Act of 1965 by repealing the 90/10 rule for proprietary schools. This rule requires that at least 90% of a school's full-time, first-time undergraduate students must receive federal financial aid. The bill specifically targets Section 487 of the Higher Education Act, repealing paragraph (24) and subsection (d). This change aims to provide regulatory relief to proprietary schools by removing certain financial aid requirements.
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