RIFA Act

This bill requires certain large private colleges and universities to report their investments in countries like China, Russia, Iran, and North Korea. It applies to private schools with either more than $6 billion in assets or more than $250 million invested in these countries or related entities. These schools must file annual reports with the Department of Education when they buy, sell, or hold investments connected to these foreign countries or entities, including those designated as terrorist organizations. The Department of Education will make these reports available to the public in a searchable database and can investigate violations, with penalties that may include losing access to federal student aid.

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