Educational Grant Reform Act of 1991

[AI summary unavailable — showing source text] Educational Grant Reform Act of 1991 - Amends the Higher Education Act of 1965 to delay initial disbursement of Pell Grants to first-year undergraduate students. Makes ineligible for participation in the Pell Grant program any institution with a high default rate on student loans. Directs the Secretary of Education to study the accreditation system for proprietary institutions of higher education. Requires such study to: (1) examine conflicts of interest with respect to such institutions' board members; and (2) determine if the current system represents public interest by accrediting institutions that educate students adequately and use public funds responsibly. Requires a report to the Congress.…