Student Protection and Success Act

This bill requires colleges and universities participating in federal student aid programs to maintain a minimum "cohort repayment rate" of 15% for borrowers who took out loans to attend their institution. If an institution's repayment rate falls to 15% or below, it would lose eligibility for federal student aid programs for three years, with limited appeal options available. The bill also creates a "College Opportunity Bonus Program" that awards grants to institutions with repayment rates above 25% to support initiatives improving college access and affordability for low- and moderate-income students. These provisions will take effect starting in fiscal year 2027 for all institutions participating in federal student aid programs.