Flexibility to Innovate for College Affordability Act
A BILL
To establish the Higher Education Regulatory Reform Task Force, to expand the experimental sites initiative under the Higher Education Act of 1965 to reduce college costs for students, and for other purposes.
Sec. 2 Higher Education Regulatory Reform Task Force
Sec. 3 Expedited consideration by Congress
Sec. 4 Expanding the experimental sites initiative
“(C) Waivers of grant and loan maximum award amounts—The Secretary is authorized to waive any requirements in this title or regulations prescribed under this title relating to grant and loan maximum award amounts (or any other requirements or regulations that may bias the results of the experiment described in this subparagraph) for any institution participating as an experimental site under subparagraph (A) to carry out an experiment to, with respect to each student whose workload exceeds the minimum workload that the institution considers a full-time academic workload for the program of study that the student is pursuing, increase the maximum Federal Pell Grant and loan award amounts for the student in proportion to the amount that the student’s workload exceeds such minimum full-time academic workload, so long as the institution demonstrates to the Secretary that the experiment described in this subparagraph will assist in decreasing the total the cost of attendance (defined in section 472) for the student.
“(D) Waivers for competency-based learning—The Secretary is authorized to waive any requirements in this title or any regulations prescribed under this title (including any accreditation requirements or any other requirements or regulations that may bias the results of the experiment described in this subparagraph) for any institution participating as an experimental site under subparagraph (A) to carry out an experiment to provide Federal grant and loan awards to—
“(i) students enrolled in remedial courses or competency-based learning programs that provide competencies for success in certain programs of study at the institution, but that are not accredited;
“(ii) students (or potential students) to pay for the test fees of tests, based on the results of which the institution may award the students academic credit for prior learning; or
“(iii) secondary school students enrolled in courses at the institution,”