Section 1 Short title
This Act may be cited as the “Pell Grant Accessibility Act”.
Pell Grant Accessibility Act
A BILL
To amend the Higher Education Act of 1965 to provide for an institution of higher education that has previously filed for bankruptcy to apply for the reinstatement of eligibility for purposes of Federal Pell Grants.
Sec. 2 Reinstatement following bankruptcy of institution of higher education for purposes of Federal Pell Grants
Section 102(a)(4) of the Higher Education Act of 1965 (20 U.S.C. 1002(a)(4)) is amended—
in subparagraph (A), by striking “the institution” and inserting “except as provided in subparagraph (B), the institution”;
by redesignating subparagraphs (A) and (B) as clauses (i) and (ii), respectively, and moving the margins 2 ems to the right;
by striking “Limitations based on management.—An institution shall” and inserting the following:
“(A) In general—An institution shall”
by adding at the end the following new subparagraph:
“(B) Waiver—For purposes of awarding Federal Pell Grants under subpart 1 of part A of title IV, the Secretary may consider an institution described in subparagraph (A)(i) as meeting the definition of an institution of higher education in paragraph (1) if—
“(i) the institution or affiliate of such institution described in subparagraph (A)(i) filed for bankruptcy not less than 5 years prior to the date on which such institution seeks a waiver under this subparagraph;
“(ii) the institution described in subparagraph (A)(i) submits to the Secretary such information as the Secretary considers appropriate; and
“(iii) the Secretary determines that such institution should not be subject to the requirement under subparagraph (A).”