S. 1043 · 115th Congress
Pay for Student Success Act
- Stage
- In committee
- Sponsor
- Michael Bennet
- Introduced
- 2017-05-04
- Latest action
- 2017-05-04 · Introduced in Senate
Summary
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.