PRO Students Act

[AI summary unavailable — showing source text] Protections and Regulation for Our Students Act or the PRO Students Act This bill increases oversight of postsecondary educational institutions and provides consumer protections for students. Proprietary (i.e., for-profit) institutions of higher education (IHEs) must derive at least 15% of their revenue from non-federal sources or risk becoming ineligible for federal educational assistance funds. Postsecondary educational institutions must meet certain requirements regarding entrance counseling for first-time borrowers, disclosure of clinical training agreement terms, disclosure of a mandatory program review, and preparation of students upon successful program completion. The bill prohibits such institutions from using revenues derived from federal educational assistance funds for recruiting or marketing activities. The bill revises requirements governing IHEs that receive federal educational assistance funds, including to broaden the ban on institutions compensating employees based on their successes in securing either enrollments or student aid awards, prohibit predispute arbitration agreements in student loan contracts that waive the rights available to borrowers, and increase p…