Higher Education Reform and Opportunity Act

This bill changes how federal student loans and college accreditation work. It combines all federal student loan programs into one program and gradually eliminates loan forgiveness options for borrowers. The bill allows apprenticeship programs and other job training courses to qualify for federal student aid if they are approved by states that have agreements with the Department of Education. Colleges must publish information about how many graduates get jobs after finishing school and how much student loan debt graduates typically have. The bill also requires colleges to pay fines based on how many of their former students are not making loan payments on time, but gives colleges a $400 credit for each graduate who received a Pell Grant.

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