Federal Legislation
Senators Renew Student Loan Accountability Legislation
March 19, 2026
Senators Jeanne Shaheen and Todd Young have reintroduced the bipartisan Student Protection and Success Act aimed at increasing accountability for higher education institutions receiving federal student aid. The legislation proposes tying federal aid eligibility to student loan repayment rates and imposing risk-sharing fees on schools with high unpaid loan balances. Funds collected from these fees would be redirected to institutions effectively serving low-income students, incentivizing improved student outcomes and financial responsibility.
- This legislation signals potential changes in federal funding eligibility criteria for higher education institutions, impacting procurement and financial management within the education sector.
- Institutions may face new financial obligations through risk-sharing fees based on loan repayment performance, affecting budgeting and contract planning.
- Procurement professionals should anticipate shifts in funding flows that could influence vendor contracts and service requirements for institutions serving low-income populations.
- Organizations supporting higher education institutions should evaluate how these accountability measures might affect contract opportunities related to student services, financial management, and compliance solutions.
Our bipartisan bill will increase accountability measures for loan repayments to ensure that institutions of higher education keep their promises to borrowers and empower students to succeed after graduation 6 helping to address the alarmingly high cost of higher education and better ensure college affordability for generations of students to come.
— Senator Jeanne Shaheen
Our Student Protection and Success Act will help ensure colleges and universities are preparing hard-working students for meaningful careers that will better enable graduates to repay their student loans.
— Senator Todd Young
Agencies
U.S. Department of Education
Contracts
Locations
Sources
- Shaheen, Young Renew Push to Curb Mounti... | U.S. Senator Jeanne Shaheen · Shaheen Senate · Mar 19
- Young, Shaheen Renew Push to Curb Mounting Student Debt by Improving Institutional Accountability - Senator Young · Young Senate · Mar 19