Treasury
3-MO 3.92% unch 6-MO 4.00% unch 1-YR 4.16% -2bp 2-YR 4.39% unch 3-YR 4.45% -1bp 5-YR 4.54% -1bp 7-YR 4.66% unch 10-YR 4.79% unch 20-YR 5.27% unch 30-YR 5.27% unch 3-MO 3.92% unch 6-MO 4.00% unch 1-YR 4.16% -2bp 2-YR 4.39% unch 3-YR 4.45% -1bp 5-YR 4.54% -1bp 7-YR 4.66% unch 10-YR 4.79% unch 20-YR 5.27% unch 30-YR 5.27% unch 3-MO 3.92% unch 6-MO 4.00% unch 1-YR 4.16% -2bp 2-YR 4.39% unch 3-YR 4.45% -1bp 5-YR 4.54% -1bp 7-YR 4.66% unch 10-YR 4.79% unch 20-YR 5.27% unch 30-YR 5.27% unch 3-MO 3.92% unch 6-MO 4.00% unch 1-YR 4.16% -2bp 2-YR 4.39% unch 3-YR 4.45% -1bp 5-YR 4.54% -1bp 7-YR 4.66% unch 10-YR 4.79% unch 20-YR 5.27% unch 30-YR 5.27% unch 3-MO 3.92% unch 6-MO 4.00% unch 1-YR 4.16% -2bp 2-YR 4.39% unch 3-YR 4.45% -1bp 5-YR 4.54% -1bp 7-YR 4.66% unch 10-YR 4.79% unch 20-YR 5.27% unch 30-YR 5.27% unch 3-MO 3.92% unch 6-MO 4.00% unch 1-YR 4.16% -2bp 2-YR 4.39% unch 3-YR 4.45% -1bp 5-YR 4.54% -1bp 7-YR 4.66% unch 10-YR 4.79% unch 20-YR 5.27% unch 30-YR 5.27% unch
US Treasury par yield curve · Sep 2 · Source: U.S. Treasury
Thursday, September 3, 2026
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Private schools

Treasury proposes denying tax exemption to private schools that use race in admissions or aid

Money & World
The Editorial Team ·
A pale marble staircase inside the Internal Revenue Service Building in Washington, with a stone balustrade and a framed architectural drawing on the wall.
Photo: Carol M. Highsmith / Wikimedia Commons (Public domain)

Private schools that use race in admissions, scholarships or other programs would not qualify for section 501(c)(3) status under regulations proposed by Treasury and the IRS on Thursday.

Nothing changes yet.

The proposal covers race, color, and national or ethnic origin across educational policies, admissions, loans, athletics and any other school-administered or school-supported program. It would apply to private primary and secondary schools, colleges, universities, professional schools and trade schools. Government schools are excluded.

Treasury and the IRS estimate that 18,000 schools could be affected. They also estimate that 750,000 students may qualify for scholarships allocated using race, ethnicity or national identity.

Schools could still select students by genuine religious affiliation or membership. They could also use criteria such as income, geography or first-generation status.

If finalized, the rule would affect taxable years beginning after May 31, 2027. The proposal is scheduled for Federal Register publication on Friday, after which a 60-day comment period would run.

The document: Treasury and IRS, Racial Nondiscrimination in Private Schools, REG-119986-25, September 3, 2026.

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