No Contracts with Foreign Adversaries Act

This bill would stop colleges and universities from making contracts with certain foreign countries like North Korea, China, Russia, or Iran, or with companies controlled by those countries, unless they get special permission. Schools that want to make such contracts would need to ask the Department of Education for a waiver at least 120 days before signing the contract, and the waiver would only last for one year. Schools that already have contracts with these countries when the bill becomes law would have 30 days to request a waiver. If schools break these rules, they could lose access to federal student financial aid programs.

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