Revised for 1st substitute: Concerning financial aid awards for students attending private four-year and two-year institutions of higher education.

This bill changes how financial aid is awarded to students attending private colleges and universities in Washington. Starting in the 2026-2027 school year, the amount of financial aid for students at private four-year and two-year institutions will be set at 50% of the average awards given to students at public research institutions. The bill also requires the state to create rules for private for-profit institutions to ensure their graduates have good job prospects and manageable student loan debt.

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