Protecting Financial Aid for Students and Taxpayers Act
This bill amends the Higher Education Opportunity Act to prohibit an institution of higher education (IHE) or postsecondary educational institution from using revenues derived from federal educational assistance funds for recruiting or marketing activities.
Federal educational assistance funds include federal student aid under title IV (Student Assistance) of the Higher Education Act of 1965, education benefits for military personnel and veterans, and grants for workforce development programs.
An IHE or postsecondary educational institution must annually certify compliance with this requirement to retain eligibility to participate in title IV federal student aid programs.