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S 4348
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PARITY Act

To repeal the 90/10 rule as it pertains to proprietary schools under title IV of the Higher Education Act of 1965.

Introduced Apr 20, 2026

Latest action (Apr 20, 2026) Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

Referred to
Health, Education, Labor, and Pensions Committee
Policy area
Education
Issues
Education

Summary

This bill repeals the 90/10 rule for proprietary schools under the Higher Education Act. The 90/10 rule requires proprietary schools to derive at least 10 percent of their revenue from non-federal sources, limiting federal student aid to no more than 90 percent of their revenue. Repealing this rule would allow proprietary schools to receive a higher percentage of their revenue from federal student aid. The bill amends section 487 of the Higher Education Act by repealing the relevant provisions. This change would apply to proprietary institutions participating in federal student aid programs.

AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.

Sponsor (1)
1 cosponsor

Actions (2)
  1. Apr 20, 2026 Read twice and referred to the Committee on Health, Education, Labor, and Pensions. · senate
  2. Apr 20, 2026 Introduced in Senate

Similar bills (6)

Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.

  • HR 9580 — PARITY Act · Introduced Jul 2, 2026 · Cong. 119 92%
  • S 4297 — Keep Public Funds in Public Schools Act · Introduced Apr 15, 2026 · Cong. 119 69%
  • S 4686 — Transparency in Student Lending Act · Introduced Sep 17, 2024 · Cong. 118 68%
  • HR 6677 — Professional Degree Access Restoration Act · Introduced Dec 11, 2025 · Cong. 119 67%
  • S 4269 — Restoring College Access and Affordability Act · Introduced Mar 26, 2026 · Cong. 119 66%
  • S 4169 — Student Loan Interest Elimination Act · Introduced Mar 24, 2026 · Cong. 119 65%

Full text

IN THE SENATE OF THE UNITED STATES

April 20, 2026

Mr. Banks introduced the following bill; which was read twice and referred to the Committee on Health, Education, Labor, and Pensions

A BILL

To repeal the 90/10 rule as it pertains to proprietary schools under title IV of the Higher Education Act of 1965.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the “Promoting Access and Revenue Integrity Through Institutional Transparency Act” or the “PARITY Act”.

SEC. 2. REGULATORY RELIEF.

Section 487 of the Higher Education Act of 1965 (20 U.S.C. 1094) is amended—

(1) in subsection (a), by repealing paragraph (24); and

(2) by repealing subsection (d). <all>

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