UNIVERSAL TECHNICAL INSTITUTE INC

Current report

Recent changes by Congress to the laws governing the use of funds received through Title IV Programs could reduce our student population, revenues and/or profit margin.

Current report

Congress periodically revises the HEA and other laws, and enacts new laws, governing Title IV Programs and determining the funding level for each Title IV Program. Congress most recently reauthorized the HEA in 2008 and, despite repeated attempts, has not completed a full reauthorization since then. In addition to HEA reauthorization, policies directly related to Title IV Programs and funding for those programs may be impacted by the annual budget and appropriations process as well as by other legislation. In this regard, on July 4, 2025, Congress enacted the One Big Beautiful Bill Act (“OBBBA”). Under the OBBBA, Congress approved amendments to the HEA that, among other things, revised certain Title IV Programs, including provisions that condition the eligibility of educational programs upon compliance with earnings benchmarks that compare former students’ median earnings after completing a program to the median earnings of working adults with lesser credential, and other provisions that will limit or reduce the amount of Title IV Program funding that may be available to some higher education students. The impact of these changes and other changes to the HEA enacted as part of the OBBBA, and of related future regulatory and policy changes, is unknown at this time.