Degrees Not Debt Act of 2019
This bill sets forth provisions to increase the availability of need-based federal student aid and require an institution of higher education (IHE) to disclose performance indicators.
The bill repeals the alternative minimum tax exemption and the increased estate and gift tax exemption and uses the tax revenue to increase need-based federal student aid. Specifically, the bill increases (1) the maximum amount of the federal Pell Grant, and (2) the income threshold that triggers an automatic zero for an expected family contribution.
In addition, the bill eliminates Pell Grant funding for an institution of higher education in a state that does not maintain its funding levels for IHEs.
Finally, an IHE must disclose performance indicators (e.g., graduation rates and employment outcomes).