This bill revises the requirements for an accrediting agency to be recognized by the Department of Education as a reliable authority on the quality of education being offered at an institution of higher education (IHE). Specifically, an accrediting agency must confirm that its standards do not require, encourage, or coerce an IHE to (1) support, oppose, or commit to supporting or opposing specific partisan, political, or ideological viewpoints or beliefs or specific viewpoints or beliefs on social, cultural, or political issues; or (2) support or commit to supporting the disparate treatment of any individual or group on the basis of any protected class under federal civil rights law. Additionally, an accrediting agency must confirm that its standards do not prohibit an IHE from having a religious mission. The accrediting agency may not prohibit the IHE from requiring an applicant, student, employee, or independent contractor to provide a statement of faith or adhere to a code of conduct. The bill specifies that an IHE shall be eligible to participate in federal student aid programs if the IHE is in compliance with the standards of the accrediting agency that assesses the IHE in accordance with statute.