S.1043 - Pay for Student Success Act115th Congress (2017-2018)
|Sponsor:||Sen. Bennet, Michael F. [D-CO] (Introduced 05/04/2017)|
|Committees:||Senate - Health, Education, Labor, and Pensions|
|Latest Action:||Senate - 05/04/2017 Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (All Actions)|
This bill has the status Introduced
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Summary: S.1043 — 115th Congress (2017-2018)All Information (Except Text)
Introduced in Senate (05/04/2017)
Pay for Student Success Act
This bill amends the Higher Education Act of 1965 to require the Department of Education (ED) to contract with eligible entities for pay-for-success projects that develop, implement, evaluate, and promote innovative strategies for increasing the postsecondary education retention and completion rates of students who receive Pell Grants and first-generation postsecondary students.
Each entity that receives a contract must provide 90% of the project costs up front. ED may reimburse an entity for no more than 75% of the total project costs if ED determines, based on an independent evaluation, that the project is successful.