Student Aid Fraud Oversight and Accountability Act of 2026

This bill requires the Department of Education to focus its attention on colleges and universities that give out federal student aid money without first checking the identity of students whose financial aid applications show signs of possible identity fraud. Schools can avoid extra scrutiny by verifying each student's identity in person or by live video before handing out aid, notifying the Department of Education about the verification, and keeping records of it. The Department of Education can use the information it gathers to guide audits, investigations, and other oversight of the federal student aid program.

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