Fair College Admissions for Students Act

S 2524, the Fair College Admissions for Students Act, bans U.S. colleges and universities that receive federal financial aid from giving extra advantages in admissions based on applicants' family connections to donors or alumni. It directly affects all institutions covered by the Higher Education Act of 1965 by requiring them to eliminate legacy preferences and donor-based admissions benefits. The bill amends Section 487(a) of that Act to prohibit preferential treatment for applicants related to donors or alumni, making this a standard requirement for federally funded schools. The rule takes effect for the second award year following the bill's enactment date.