Protecting Students from Worthless Degrees Act
This bill makes any institution of higher education (IHE) postsecondary program designed to prepare students for a recognized occupation or profession requiring licensing or other entry pre-conditions ineligible to participate in a federal financial assistance program, unless it meets specified student consumer protection requirements within one year after this Act's enactment.
Each program must: (1) fully prepare students to satisfy those entry pre-conditions in the metropolitan statistical areas and states in which the students reside and in any state the program claims a successful program graduate will be prepared to work in the particular occupation or profession involved; and (2) provide timely placement of students in required pre-licensure positions, such as clinical placements, internships, or apprenticeships.
The bill requires the Department of Education to promulgate regulations regarding pre-accredited IHE programs to: (1) impose consumer protection requirements that are consistent with those this Act imposes on accredited programs, and (2) condition an IHE's participation in any federal financial assistance program on the IHE signing a loan discharge agreement with each student who is enrolled in any pre-accredited program.