A quick look at the news from last week, compiled by Penn Hill Group: 

HOUSE and SENATE

The House and Senate are in recess and will return on Tuesday, October 20.

BUDGET

U.S. Department of the Treasury Secretary Jack Lew sent an updated letter to Congress indicating that the debt limit is likely to be exceeded on or about November 3. It was previously predicted the limit would be reached by November 5.

ADMINISTRATION

The U.S. Department of Education announced a new experimental sites pilot program, the Educational Quality through Innovations Partnerships (EQUIP), which will allow participating institutions of higher education and nontraditional providers to partner so that federal financial aid may be applied to nontraditional, unaccredited education programs.

Inside Higher Ed reported the Consumer Financial Protection Bureau (CFPB) delivered a civil investigative demand to national accreditor, Accrediting Council for Independent Colleges and Schools, requesting information on colleges and accreditation evaluators.