Revises the HEA general definition of institution of higher education (IHE) to include one that admits as regular students those who have been home-schooled, thus conforming it with provisions that make such home-schooled students eligible for student aid under HEA title IV.
Makes students attending nonprofit foreign veterinary schools eligible for the Federal Family Education Loan (FFEL) student loan program if the school does not meet certain requirements, but only if: (1) it was certified as eligible by the Secretary of Education; and (2) students complete their clinical training at an approved veterinary school in the United States.
Allows IHEs to make mandatory reports on teacher preparation program quality by electronic means under HEA title II.
Eliminates a HEA title IV requirement that new forbearance agreements between lenders and borrowers be in writing; but requires lenders to notify borrowers of their terms.
Requires students withdrawing from an IHE to return only HEA title IV grant aid amounts exceeding 50 percent of the total (if more than $50).
Permits Hispanic-Serving Institutions (HSIs) to apply for Federal HSI grants under HEA title V without waiting two years between applications.
Authorizes the use of HEA title VII funds for: (1) Federal scholarship aid to low-income and minority students for summer institutes to prepare for law school; and (2) Thurgood Marshall Fellowships to attend law school.
Directs the Comptroller General to study and report on teacher preparation requirements of States and IHEs.
Exempts courses offered through telecommunications by qualifying IHEs from certain HEA title IV limitations on student financial assistance that otherwise apply to correspondence courses.