1. Short title This Act may be cited as the Foreign Medical School Accountability Fairness Act of 2017 . 2. Purpose To establish consistent eligibility requirements for graduate medical schools operating outside of the United States and Canada in order to increase accountability and protect American students and taxpayer dollars. 3. Findings Congress finds the following: (1) Three for-profit schools in the Caribbean receive nearly ¾ of all Federal funding under title IV of the Higher Education Act of 1965 ( 20 U.S.C. 1070 et seq.) that goes to students enrolled at foreign graduate medical schools, despite those three schools being exempt from meeting the same eligibility requirements as the majority of graduate medical schools located outside of the United States and Canada. (2) The National Committee on Foreign Medical Education and Accreditation and the Department of Education recommend that all foreign graduate medical schools should be required to meet the same eligibility requirements to participate in Federal funding under title IV of the Higher Education Act of 1965 ( 20 U.S.C. 1070 et seq.). (3) The attrition rate at United States medical schools averaged 3.4 percent in 2014, while rates at for-profit Caribbean medical schools have been known to reach 30 percent. (4) In 2016, residency match rates for foreign trained graduates averaged 54 percent compared to 94 percent for graduates of medical schools in the United States. (5) On average, students at for-profit medical schools operating outside of the United States and Canada amass more student debt than those at medical schools in the United States. 4. Repeal grandfather provisions Section 102(a)(2) of the Higher Education Act of 1965 ( 20 U.S.C. 1002(a)(2) ) is amended— (1) in subparagraph (A), by striking clause (i) and inserting the following: (i) in the case of a graduate medical school located outside the United States— (I) at least 60 percent of those enrolled in, and at least 60 percent of the graduates of, the graduate medical school outside the