H.R. 7831, titled the "Preventing Financial Exploitation in Higher Education Act," proposes financial penalties for certain large educational institutions with high student loan defaults, delinquencies, or underpayments. If these rates exceed specified levels, the institutions must pay a...
Simple Explanation
The "Preventing Financial Exploitation in Higher Education Act" is like a rule that says if big colleges have too many students who can't pay back their school loans, the colleges have to give some money back. It also says if those colleges make their tuition much more expensive, they have to pay more taxes.