Dr. Glenn Lang reminds us that the Higher Education Act of 1965 (HEA) (Pub. L. 89–329) was legislation signed into United States law on November 8, 1965, as part of President Lyndon Johnson’s Great Society domestic agenda.
The Higher Education Act (HEA) is a federal law that governs the administration of federal higher education programs. Its purpose is to strengthen the educational resources of our colleges and universities and to provide financial assistance for students in postsecondary and higher education. While its impetus remains far reaching, higher education in the US remains essentially a state level responsibility.
Read more about the history of this legislation (will go to Investopedia).