The Student Protection and Success Act aims to enhance accountability among higher education institutions by tying their eligibility for federal financial aid programs to student loan repayment rates. This legislation seeks to ensure that colleges are responsible for their students' financial outcomes, particularly their ability to repay loans. Institutions with a cohort repayment rate of 15 percent or less will lose eligibility for federal financial aid for the current fiscal year and the following two years, though they can appeal this decision.