Online Learning Update

May 3, 2021

Federal bill would expand oversight of for-profit college conversions

Filed under: Online Learning News — Ray Schroeder @ 12:05 am

Hallie Busta, HigherEd Dive

Proposed legislation from three House Democrats would codify and expand oversight of the process by which for-profit colleges convert to nonprofit status, a move several institutions have made in recent years. The For-Profit College Conversion Accountability Act would also require public notice about a potential conversion, treat the school as a for-profit for at least five years after its change is approved and establish an office within the U.S. Department of Education to oversee the deals. The bill follows a report from the U.S. Government Accountability Office that found issues with the way the department and Internal Revenue Service reviewed the transactions.

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