Student Protection Act
This bill expands the list of actions that may result in the change of control of an institution of higher education (IHE) to include a court-ordered receivership.
Such changes of control disqualify an IHE from participating in federal student-aid programs unless the IHE establishes that it meets specific requirements following the change of control.
To amend the Higher Education Act of 1965 to include court-ordered 
receivership in the list of actions resulting in a change of ownership 
                  of institutions of higher education.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Student Protection Act''.

SEC. 2. ACTIONS RESULTING IN A CHANGE OF OWNERSHIP.

    Section 498(i)(2) of the Higher Education Act of 1965 (20 U.S.C. 
1099c(i)(2)) is amended--
            (1) in subparagraph (E), by striking ``or'' at the end;
            (2) in subparagraph (F), by striking the period at the end 
        and inserting ``; or''; and
            (3) by adding at the end the following:
            ``(G) or a court-ordered receivership.''.
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Student Protection Act
To amend the Higher Education Act of 1965 to include court-ordered receivership in the list of actions resulting in a change of ownership of institutions of higher education.
Student Protection Act
Rep. Porter, Katie