Students First Act of 2013

[AI summary unavailable — showing source text] Students First Act of 2013 - Amends the Higher Education Act of 1965 to revise the process for reviewing an institution of higher education's (IHE's) compliance with Student Assistance program requirements under title IV. Directs the Secretary of Education to conduct either mandatory or risk-based program reviews, including on-site visits, of IHEs that pose a significant risk of failing to comply with those requirements. Requires mandatory reviews to be conducted annually on IHEs that meet certain criteria that include: (1) high student loan default rates; (2) the receipt, in the case of proprietary schools, of more than 85% of their revenue from federal funds; (3) high complaint rates; (4) low graduation rates; (5) the expenditure of more than 20% of their revenues on recruiting, marketing, and executive compensation; (6) burgeoning enrollment rates; (7) the manipulation of student loan default rates; (8) placement on probation or show cause by their accrediting agency; and (9) other compliance problems the IHE acknowledges or a state or federal agency discovers. Requires an IHE to inform students and prospective students that it will be subject to a mandatory program review and t…