Dive Brief:
- Congress is holding hearings and asking for input on the 50-year-old Higher Education Act, which controls federal student aid and federal money for colleges.
- There's big money at stake: The law sets loan limits, governs accreditation, and determines who gets funding and how much of it.
- Legislators in both parties will likely be scrutinizing colleges' costs and results, and Democrats will likely push to limit money for for-profit colleges.
Dive Insight:
One big shadow hanging over the Higher Education Act is President Barack Obama's plan to establish college rankings and to use them to apportion government money. The legislative process is just getting started and the act's renewal is not expected for a vote until 2014.
