United States 119th Congress Status: In Committee Bipartisan · 3 D · 2 R cosponsors

HR 6498 — Student Financial Clarity Act of 2025

Last action — Placed on the Union Calendar, Calendar No. 395.

  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed House
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill is in committee in the House. Introduced December 09, 2025. It must pass committee before a floor vote.

Next likely step: a committee vote, then a floor vote in the House.

Odds of enactment

Low chance

Based on the sponsor, cosponsors, and committee posture, this bill has a low chance of becoming law.

Upgrade to see the exact probability and what's driving it.

A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Advancing 40% · moderate confidence

  • In Committee

    Current position in the legislative process.

  • 5 sponsors

    1 primary, 4 co-sponsors signed on.

  • Bipartisan support

    Sponsored across 2 parties (3 D · 2 R) — cross-party backing.

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

In plain language

This bill focuses on education and workforce development.

The bill aims to enhance education and workforce initiatives. It was recently discussed and amended in committee.

Summary

Student Financial Clarity Act of 2025This bill requires certain actions to provide consumers (e.g., enrolled and prospective students) with additional financial information on institutions of higher education (IHEs) that participate in federal student aid programs.Specifically, the Department of Education (ED) must update its College Scorecard website with additional information, including detailed data (e.g., costs, financial aid, student debt and repayment, and earnings) for each program of study at each IHE. (The College Scorecard is a comparison tool for information on school sizes, settings, graduation rates, average costs, and salary ranges per field of study.)Additionally, ED must establish a Universal Net Price Calculator on a dedicated ED website and annually update the data. Among other elements, this calculator must (1) allow an individual to select and compare multiple IHEs and programs of study, (2) provide the individual with net price estimates for each selected IHE and each selected program of study, and (3) provide access to information in an electronic and downloadable format.Each IHE must make publicly available on its website either the net price calculator developed by ED or the IHE's own calculator (if it includes, at a minimum, the same data elements of ED's calculator).

Bill Text

What changed in the latest version

124 added · 80 removed

Plain-language change summary

The amendment to HR 6498 changes the definition of "total net price required for completion" by clarifying that it refers specifically to the total costs a student incurs during their program of study, accounting for available grant and scholarship aid. The previous version included a separate definition for "annual net price required for completion," which is now removed. This change likely simplifies the terminology used in the bill, focusing solely on total costs for the entire program rather than on an annual basis.

→
Previous
Latest
6498 Introduced in House (IH)] <DOC> 119th CONGRESS 1st Session H.
6498 Reported in House (RH)] <DOC> Union Calendar No.
395 119th CONGRESS 2d Session H.
6498 To amend the Higher Education Act of 1965 to increase transparency in college tuition for consumers, and for other purposes.
6498 [Report No.
119-461] To amend the Higher Education Act of 1965 to increase transparency in college tuition for consumers, and for other purposes.
which was referred to the Committee on Education and Workforce _______________________________________________________________________ A BILL To amend the Higher Education Act of 1965 to increase transparency in college tuition for consumers, and for other purposes.
which was referred to the Committee on Education and Workforce January 21, 2026 Additional sponsors:
Mr.
Norcross and Mr.
Vindman January 21, 2026 Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed [Strike out all after the enacting clause and insert the part printed in italic] [For text of introduced bill, see copy of bill as introduced on December 9, 2025] _______________________________________________________________________ A BILL To amend the Higher Education Act of 1965 to increase transparency in college tuition for consumers, and for other purposes.
1015a) is amended-- (1) by striking subsections (a) through (j) and inserting the following:
1015a) is amended by striking subsections (a) through (j) and inserting the following:
``(5) Net price required for completion.-- ``(A) Net price determinations.-- ``(i) Total net price required for completion.--The term `total net price required for completion' means, with respect to a student in a program of study-- ``(I) the required costs charged to such student for the program of study for the time to credential;
``(5) Net price required for completion.-- ``(A) Total net price required for completion.--The term `total net price required for completion' means, with respect to a student in a program of study-- ``(i) the required costs charged to such student for the program of study for the time to credential;
minus ``(II) the amount of grant and scholarship aid that is available to the student for such program for the time to credential.
minus ``(ii) the amount of grant and scholarship aid that is available to the student for such program for the time to credential.
``(ii) Annual net price required for completion.--The term `annual net price required for completion' means, with respect to a student in a program of study-- ``(I) the required costs charged to such student for the program of study for an award year;
``(B) Annual net price required for completion.-- The term `annual net price required for completion' means, with respect to a student in a program of study-- ``(i) the required costs charged to such student for the program of study for an award year;
minus ``(II) the amount of grant and scholarship aid that is available to the student for such program for such award year.
minus ``(ii) the amount of grant and scholarship aid that is available to the student for such program for such award year.
``(b) Consumer Information.-- ``(1) Availability of information for title iv institutions and programs.--Not later than 18 months after the effective date of this subsection, the Secretary shall, subject to applicable Federal privacy statutes, make publicly available on the College Scorecard website the following information with respect to students of the institution who have received Federal financial assistance described in paragraph (2)(I), for the most recent award year for which such information is available:
``(b) Consumer Information.-- ``(1) Availability of information for title iv institutions and programs.--Not later than 18 months after the effective date of this subsection, the Secretary shall make publicly available on the College Scorecard website the following information with respect to students of the institution who have received Federal financial assistance described in paragraph (2)(I), for the most recent award year for which such information is available:
``(iv) In the case of an institution that requires scores for a college entrance examination (such as the SAT or ACT) to be submitted, the subject matter scores and combined scores on such examinations, as applicable.
``(iv) In the case of an institution that requires scores for a college entrance examination (such as the SAT or ACT) to be submitted, data on such submitted scores.
``(v) Information on college costs and financial aid, including-- ``(I) the average, median, minimum, and maximum values of-- ``(aa) the required costs for such award year;
``(v) Information on college costs and financial aid, including-- ``(I) the average, median, minimum, and maximum values of-- ``(aa) the required costs for such award year (determined for an institution based on the required costs for all programs of study);
``(bb) the cost of attendance for such award year;
``(bb) the cost of attendance for such award year (determined for an institution based on the cost of attendance for all programs of study);
``(cc) the amount of grant and scholarship aid received by students for such award year;
``(cc) the amount of grant and scholarship aid received by students for such award year (determined for an institution based on the amount of grant and scholarship aid received by students for all programs of study);
``(dd) the information described in item (cc) and subclause (II)(cc), disaggregated-- ``(AA) by the type of source described in clauses (i) through (v) of subsection (a)(5)(C);
``(dd) the information described in item (cc) and subclause (II)(cc), disaggregated-- ``(AA) by the type of source described in subparagraphs (A) through (E) of subsection (a)(4);
and ``(II) with respect to students who completed a credential during the most recent award year, the average, median, minimum, and maximum values of-- ``(aa) the program length;
``(II) with respect to students who completed a credential during the most recent award year, the average, median, minimum, and maximum values of-- ``(aa) the program length (determined for an institution based on the program length for all programs of study);
``(bb) the time to credential;
``(bb) the time to credential (determined for an institution based on the time to credential for all programs of study);
``(cc) the amount of grant and scholarship aid received for the time to credential;
``(cc) the amount of grant and scholarship aid received for the time to credential (determined for an institution based on the amount of grant and scholarship aid received by students for all programs of study);
``(dd) the total net price required for completion (determined for the institution based on the total net price required for completion for all programs of study);
``(dd) the total net price required for completion (determined for an institution based on the total net price required for completion for all programs of study);
and ``(ee) the total net price required for attendance (determined for the institution based on the total net price required for attendance for all programs of study);
and ``(ee) the total net price required for attendance (determined for an institution based on the total net price required for attendance for all programs of study);
and ``(II) the annual earnings of students who were enrolled in the institution during the most recent award year for which data are available in a program of study, and who at the time the information is reported-- ``(aa) have not completed such program of study;
and ``(II) the annual earnings of students who were enrolled in a program of study at the institution during the most recent award year for which data are available, and who at the time the information is reported-- ``(aa) have not completed such program of study;
``(2) Disaggregated information.--The Secretary shall, subject to applicable Federal privacy statutes, ensure the information described in paragraph (1) is disaggregated, as applicable, by the following student characteristics:
``(2) Disaggregated information.--The Secretary shall ensure the information described in paragraph (1) is disaggregated, as applicable, by the following student characteristics:
``(3) Access and comparisons.--The Secretary shall ensure that the College Scorecard website-- ``(A) includes a method for users to easily compare institutions and programs, including in a manner that allows for such comparison based on-- ``(i) the institutional and program information described in paragraph (1);
``(3) Comparisons;
access;
privacy.--The Secretary shall ensure that the College Scorecard website-- ``(A) includes a method for users to easily compare institutions and programs, including in a manner that allows for such comparison based on-- ``(i) the institutional and program information described in paragraph (1);
and ``(B) provides access to information in an electronic and downloadable format.
``(B) provides access to information in an electronic and downloadable format;
and ``(C) complies with applicable Federal privacy statutes and uses appropriate statistical disclosure limitation techniques necessary to ensure that the data released to the public cannot be used to identify specific individuals, including with respect to disaggregated information under paragraph (2).
``(B) Adjustments.--The Secretary may adjust the data required under subclauses (III) and (IV) of paragraph (1)(B)(v) using the Consumer Price Index if the Secretary determines such adjustment is necessary.
``(B) Adjustments.--The Secretary may adjust the data required under subclauses (IV) and (V) of paragraph (1)(B)(v) using the Consumer Price Index if the Secretary determines such adjustment is necessary.
and ``(C) with respect to calculating net price estimates as required by subparagraph (B)-- ``(i) determines an estimated annual percentage change for each year for which a net price calculation is made, based on the annual percentage change in an institution's or program's required costs and other costs under section 472(a), as applicable, for the most recent three-year period for which such data are reported;
``(C) with respect to calculating net price estimates as required by subparagraph (B)-- ``(i) determines an estimated annual percentage change for each year for which a net price calculation is made, based on the annual percentage change in an institution's or program's required costs and other costs under section 472(a), as applicable, for the most recent three-year period for which such data are reported;
and ``(iv) uses the individual's information, based on-- ``(I) the single set of questions developed by the Secretary in accordance with paragraph (5);
and ``(iv) uses the individual's information, based on-- ``(I) the single set of questions developed by the Secretary in accordance with paragraph (2);
``(5) Development of input questions.--The Secretary shall develop a single set of questions for purposes of capturing the information specified in subsection (b)(2).
``(2) Development of input questions.--The Secretary shall develop a single set of questions for purposes of capturing the information specified in subsection (b)(2).
``(6) Updates.-- ``(A) Data.--The Secretary shall update the data on the Universal Net Price Calculator Website, as required under this subsection, not less than annually.
``(3) Updates.-- ``(A) Data.--The Secretary shall update the data on the Universal Net Price Calculator Website, as required under this subsection, not less than annually.
``(7) Integration with other federal financial aid resources.--In accordance with subsection (d)(5) of section 483, the Secretary shall ensure that a website link or other means of accessing the Universal Net Price Calculator is included on the FAFSA website (or similar successor website).
``(4) Integration with other federal financial aid resources.--In accordance with subsection (d)(5) of section 483, the Secretary shall ensure that a website link or other means of accessing the Universal Net Price Calculator is included on the FAFSA website (or similar successor website).
``(8) Interagency coordination.--The Secretary, in consultation with each appropriate head of a department or agency of the Federal Government, shall ensure, to the greatest extent practicable, that any information related to higher education that is published by such department or agency is consistent with the information published on the Universal Net Price Calculator website.
``(5) Interagency coordination.--The Secretary, in consultation with each appropriate head of a department or agency of the Federal Government, shall ensure, to the greatest extent practicable, that any information related to higher education that is published by such department or agency is consistent with the information published on the Universal Net Price Calculator website.
``(9) Consumer testing.--In developing and maintaining the College Scorecard website and the Universal Net Price Calculator website, the Secretary, in consultation with each appropriate head of each appropriate department and agency of the Federal Government shall-- ``(A) not later than 6 months after the date of the effective date of this subsection, and not less than once every 4 years thereafter, conduct consumer testing with appropriate persons, including current and prospective college students, family members of such students, institutions of higher education, and experts, to-- ``(i) improve the usefulness and relevance of the College Scorecard website, with respect to the presentation of the consumer information collected subsection (b);
``(6) Consumer testing.--In developing and maintaining the College Scorecard website and the Universal Net Price Calculator website, the Secretary, in consultation with each appropriate head of each appropriate department and agency of the Federal Government shall-- ``(A) not later than 6 months after the date of the effective date of this subsection, and not less than once every 4 years thereafter, conduct consumer testing with appropriate persons, including current and prospective college students, family members of such students, institutions of higher education, and experts, to-- ``(i) improve the usefulness and relevance of the College Scorecard website, with respect to the presentation of the consumer information collected pursuant to subsection (b);
``(10) Use of net price calculator by institutions.--Not later than two years after the date on which the Secretary makes the calculator developed under paragraph (1) available to institutions of higher education, each institution of higher education that receives Federal funds under title IV shall make publicly available on the institution's website a net price calculator to provide to current and prospective students, families, and other consumers a student's individual net price estimates at such institution of higher education.
``(7) Use of net price calculator by institutions.--Not later than two years after the date on which the Secretary makes the calculator developed under paragraph (1) available to institutions of higher education, each institution of higher education that receives Federal funds under title IV shall make publicly available on the institution's website a net price calculator to provide to current and prospective students, families, and other consumers a student's individual net price estimates at such institution of higher education.
Show all 55 changed rows (15 more)
Previous
Latest
``(11) Notice.--A net price estimate calculated for an individual using the Universal Net Price Calculator under this subsection shall be accompanied by a clear and conspicuous notice-- ``(A) stating that the estimate-- ``(i) does not represent a final determination, or actual award, of financial assistance;
``(8) Notice.--A net price estimate calculated for an individual using the Universal Net Price Calculator under this subsection shall be accompanied by a clear and conspicuous notice-- ``(A) stating that the estimate-- ``(i) does not represent a final determination, or actual award, of financial assistance;
and ``(C) including a link to the website of the Department that allows individuals to access the Free Application for Federal Student Aid described in section 483.'';
``(C) including a link to the website of the Department that allows individuals to access the Free Application for Federal Student Aid described in section 483;
and (b) Conforming Amendment.--Section 132 of the Higher Education Act of 1965 (20 U.S.C.
and ``(D) explaining that the net price estimate calculated for an individual using the Universal Net Price Calculator under this subsection may differ from the net price calculated for such individual using an institution's net price calculator due to differences in data or methodology.''.
(b) Conforming Amendment.--Section 132 of the Higher Education Act of 1965 (20 U.S.C.
and (2) by inserting after paragraphs (14) the following new paragraph:
and (2) by inserting after paragraph (14) the following new paragraph:
``(14) Program of study defined.-- ``(A) In general.--The term `program of study'-- ``(i) means an eligible program at an institution of higher education that is classified by a combination of-- ``(I) one or more CIP codes;
``(15) Program of study defined.-- ``(A) In general.--The term `program of study'-- ``(i) means an eligible program at an institution of higher education that is classified by a combination of-- ``(I) one or more CIP codes;
``(B) CIP code.--The term `CIP code' means the six- digit taxonomic identification code assigned by an institution of higher education to a specific program of study at the institution, determined by the institution of higher education in accordance with the Classification of Instructional Programs published by the National Center for Education Statistics.
``(B) Cip code.--The term `CIP code' means the six- digit taxonomic identification code assigned by an institution of higher education to a specific program of study at the institution, determined by the institution of higher education in accordance with the Classification of Instructional Programs published by the National Center for Education Statistics.
1001 et seq.), as amended by this Act, is further amended by striking ``College Navigator'' each place it appears and inserting ``College Scorecard''.
1001 et seq.), as amended by this Act, is further amended-- (A) by striking ``College Navigator'' each place it appears and inserting ``College Scorecard'';
and (B) in the header of section 487(d)(3), by striking ``college navigator'' and inserting ``college scorecard''.
<all>
Union Calendar No.
395 119th CONGRESS 2d Session H.
R.
6498 [Report No.
119-461] _______________________________________________________________________ A BILL To amend the Higher Education Act of 1965 to increase transparency in college tuition for consumers, and for other purposes.
_______________________________________________________________________ January 21, 2026 Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed
⬇ Download PDF
View plain text versions (2)

What Congress says this changes

H. Rept. 119-461

Published by the reporting committee Not generated — this is the committee's own “Changes in Existing Law Made by the Bill, as Reported”.

Text to be removed appears in [brackets]. Newly inserted text is italicised in the official report and cannot be marked in this plain-text rendition — read the official PDF ↗ for the authoritative formatting. 

changes in existing law made by 
the bill, as reported, are shown as follows (existing law 
proposed to be omitted is enclosed in black brackets, new 
matter is printed in italics, and existing law in which no 
change is proposed is shown in roman):

 HIGHER EDUCATION ACT OF 1965

 * * * * * * *

 TITLE I--GENERAL PROVISIONS

 PART A--DEFINITIONS

 * * * * * * *

SEC. 103. ADDITIONAL DEFINITIONS.

 In this Act:
 (1) Authorizing committees.--The term ``authorizing 
 committees'' means the Committee on Health, Education, 
 Labor, and Pensions of the Senate and the Committee on 
 Education and Labor of the House of Representatives.
 (2) Combination of institutions of higher 
 education.--The term ``combination of institutions of 
 higher education'' means a group of institutions of 
 higher education that have entered into a cooperative 
 arrangement for the purpose of carrying out a common 
 objective, or a public or private nonprofit agency, 
 organization, or institution designated or created by a 
 group of institutions of higher education for the 
 purpose of carrying out a common objective on the 
 group's behalf.
 (3) Critical foreign language.--Except as otherwise 
 provided, the term ``critical foreign language'' means 
 each of the languages contained in the list of critical 
 languages designated by the Secretary in the Federal 
 Register on August 2, 1985 (50 Fed. Reg. 31412; 
 promulgated under the authority of section 212(d) of 
 the Education for Economic Security Act (repealed by 
 section 2303 of the Augustus F. Hawkins-Robert T. 
 Stafford Elementary and Secondary School Improvement 
 Amendments of 1988)), as updated by the Secretary from 
 time to time and published in the Federal Register, 
 except that in the implementation of this definition 
 with respect to a specific title, the Secretary may set 
 priorities according to the purposes of such title and 
 the national security, economic competitiveness, and 
 educational needs of the United States.
 (4) Department.--The term ``Department'' means the 
 Department of Education.
 (5) Diploma mill.--The term ``diploma mill'' means an 
 entity that--
 (A)(i) offers, for a fee, degrees, diplomas, 
 or certificates, that may be used to represent 
 to the general public that the individual 
 possessing such a degree, diploma, or 
 certificate has completed a program of 
 postsecondary education or training; and
 (ii) requires such individual to complete 
 little or no education or coursework to obtain 
 such degree, diploma, or certificate; and
 (B) lacks accreditation by an accrediting 
 agency or association that is recognized as an 
 accrediting agency or association of 
 institutions of higher education (as such term 
 is defined in section 102) by--
 (i) the Secretary pursuant to subpart 
 2 of part H of title IV; or
 (ii) a Federal agency, State 
 government, or other organization or 
 association that recognizes accrediting 
 agencies or associations.
 (6) Disability.--The term ``disability'' has the same 
 meaning given that term under section 3(2) of the 
 Americans With Disabilities Act of 1990.
 (7) Distance education.--
 (A) In general.--Except as otherwise 
 provided, the term``distance education''means 
 education that uses one or more of the 
 technologies described in subparagraph (B)--
 (i) to deliver instruction to 
 students who are separated from the 
 instructor; and
 (ii) to support regular and 
 substantive interaction between the 
 students and the instructor, 
 synchronously or asynchronously.
 (B) Inclusions.--For the purposes of 
 subparagraph (A), the technologies used may 
 include--
 (i) the Internet;
 (ii) one-way and two-way 
 transmissions through open broadcast, 
 closed circuit, cable, microwave, 
 broadband lines, fiber optics, 
 satellite, or wireless communications 
 devices;
 (iii) audio conferencing; or
 (iv) video cassettes, DVDs, and CD-
 ROMs, if the cassettes, DVDs, or CD-
 ROMs are used in a course in 
 conjunction with any of the 
 technologies listed in clauses (i) 
 through (iii).
 (8) Early childhood education program.--The term 
 ``early childhood education program'' means--
 (A) a Head Start program or an Early Head 
 Start program carried out under the Head Start 
 Act (42 U.S.C. 9831 et seq.), including a 
 migrant or seasonal Head Start program, an 
 Indian Head Start program, or a Head Start 
 program or an Early Head Start program that 
 also receives State funding;
 (B) a State licensed or regulated child care 
 program; or
 (C) a program that--
 (i) serves children from birth 
 through age six that addresses the 
 children's cognitive (including 
 language, early literacy, and early 
 mathematics), social, emotional, and 
 physical development; and
 (ii) is--
 (I) a State prekindergarten 
 program;
 (II) a program authorized 
 under section 619 or part C of 
 the Individuals with 
 Disabilities Education Act; or
 (III) a program operated by a 
 local educational agency.
 (9) Elementary school.--The term ``elementary 
 school'' has the same meaning given that term under 
 section 8101 of the Elementary and Secondary Education 
 Act of 1965.
 (10) Gifted and talented.--The term ``gifted and 
 talented'' has the same meaning given that term under 
 section 8101 of the Elementary and Secondary Education 
 Act of 1965.
 (11) Local educational agency.--The term ``local 
 educational agency'' has the same meaning given that 
 term under section 8101 of the Elementary and Secondary 
 Education Act of 1965.
 (12) New borrower.--The term ``new borrower'' when 
 used with respect to any date means an individual who 
 on that date has no outstanding balance of principal or 
 interest owing on any loan made, insured, or guaranteed 
 under title IV.
 (13) Nonprofit.--The term ``nonprofit'' as applied to 
 a school, agency, organization, or institution means a 
 school, agency, organization, or institution owned and 
 operated by one or more nonprofit corporations or 
 associations, no part of the net earnings of which 
 inures, or may lawfully inure, to the benefit of any 
 private shareholder or individual.
 (14) Poverty line.--The term ``poverty line'' means 
 the poverty line (as defined in section 673(2) of the 
 Community Services Block Grant Act (42 U.S.C. 9902(2)) 
 applicable to a family of the size involved.
 (15) Program of study defined.--
 (A) In general.--The term ``program of 
 study''--
 (i) means an eligible program at an 
 institution of higher education that is 
 classified by a combination of--
 (I) one or more CIP codes; 
 and
 (II) one credential level, 
 determined by the credential 
 awarded upon completion of the 
 program; and
 (ii) does not include a program of 
 study abroad.
 (B) Cip code.--The term ``CIP code'' means 
 the six-digit taxonomic identification code 
 assigned by an institution of higher education 
 to a specific program of study at the 
 institution, determined by the institution of 
 higher education in accordance with the 
 Classification of Instructional Programs 
 published by the National Center for Education 
 Statistics.
 (C) Credential level.--
 (i) In general.--The term 
 ``credential level'' means the level of 
 the degree or other credential awarded 
 by an institution of higher education 
 to students who complete a program of 
 study of the institution. Each degree 
 or other credential awarded by an 
 institution shall be categorized by the 
 institution as either undergraduate 
 credential level or graduate credential 
 level.
 (ii) Undergraduate credential.--When 
 used with respect to a credential or 
 credential level, the term 
 ``undergraduate credential'' includes 
 credentials such as an undergraduate 
 certificate, an associate degree, a 
 bachelor's degree, and a post-
 baccalaureate certificate (including 
 the coursework specified in paragraphs 
 (3)(B) and (4)(B) of section 484(b)).
 (iii) Graduate credential.--When used 
 with respect to a credential or 
 credential level, the term ``graduate 
 credential'' includes credentials such 
 as a master's degree, a doctoral 
 degree, a professional degree (as 
 defined under section 668.2 of title 
 34, Code of Federal Regulations), and a 
 postgraduate certificate.
 [(15)] (16) School or department of divinity.--The 
 term ``school or department of divinity'' means an 
 institution, or a department or a branch of an 
 institution, the program of instruction of which is 
 designed for the education of students--
 (A) to prepare the students to become 
 ministers of religion or to enter upon some 
 other religious vocation (or to provide 
 continuing training for any such vocation); or
 (B) to prepare the students to teach 
 theological subjects.
 [(16)] (17) Secondary school.--The term ``secondary 
 school'' has the same meaning given that term under 
 section 8101 of the Elementary and Secondary Education 
 Act of 1965.
 [(17)] (18) Secretary.--The term ``Secretary'' means 
 the Secretary of Education.
 [(18)] (19) Service-learning.--The term ``service-
 learning'' has the same meaning given that term under 
 section 101(23) of the National and Community Service 
 Act of 1990.
 [(19)] (20) Special education teacher.--The term 
 ``special education teacher'' means teachers who teach 
 children with disabilities as defined in section 602 of 
 the Individuals with Disabilities Education Act.
 [(20)] (21) State; freely associated states.--
 (A) State.--The term ``State'' includes, in 
 addition to the several States of the United 
 States, the Commonwealth of Puerto Rico, the 
 District of Columbia, Guam, American Samoa, the 
 United States Virgin Islands, the Commonwealth 
 of the Northern Mariana Islands, and the Freely 
 Associated States.
 (B) Freely associated states.--The term 
 ``Freely Associated States'' means the Republic 
 of the Marshall Islands, the Federated States 
 of Micronesia, and the Republic of Palau.
 [(21)] (22) State educational agency.--The term 
 ``State educational agency'' has the same meaning given 
 that term under section 8101 of the Elementary and 
 Secondary Education Act of 1965.
 [(22)] (23) State higher education agency.--The term 
 ``State higher education agency'' means the officer or 
 agency primarily responsible for the State supervision 
 of higher education.
 [(23)] (24) Universal design.--The term``universal 
 design''has the meaning given the term in section 3 of 
 the Assistive Technology Act of 1998 (29 U.S.C. 3002).
 [(24)] (25) Universal design for learning.--The term 
 ``universal design for learning'' means a 
 scientifically valid framework for guiding educational 
 practice that--
 (A) provides flexibility in the ways 
 information is presented, in the ways students 
 respond or demonstrate knowledge and skills, 
 and in the ways students are engaged; and
 (B) reduces barriers in instruction, provides 
 appropriate accommodations, supports, and 
 challenges, and maintains high achievement 
 expectations for all students, including 
 students with disabilities and students who are 
 limited English proficient.

 * * * * * * *

 PART C--COST OF HIGHER EDUCATION

SEC. 131. IMPROVEMENTS IN MARKET INFORMATION AND PUBLIC ACCOUNTABILITY 
 IN HIGHER EDUCATION.

 (a) Improved Data Collection.--
 (1) Development of uniform methodology.--The 
 Secretary shall direct the Commissioner of Education 
 Statistics to convene a series of forums to develop 
 nationally consistent methodologies for reporting costs 
 incurred by postsecondary institutions in providing 
 postsecondary education.
 (2) Redesign of data systems.--On the basis of the 
 methodologies developed pursuant to paragraph (1), the 
 Secretary shall redesign relevant parts of the 
 postsecondary education data systems to improve the 
 usefulness and timeliness of the data collected by such 
 systems.
 (3) Information to institutions.--The Commissioner of 
 Education Statistics shall--
 (A) develop a standard definition for the 
 following data elements:
 (i) tuition and fees for a full-time 
 undergraduate student;
 (ii) cost of attendance for a full-
 time undergraduate student, consistent 
 with the provisions of section 472;
 (iii) average amount of financial 
 assistance received by an undergraduate 
 student who attends an institution of 
 higher education, including--
 (I) each type of assistance 
 or benefit described in section 
 428(a)(2)(C)(ii);
 (II) fellowships; and
 (III) institutional and other 
 assistance; and
 (iv) number of students receiving 
 financial assistance described in each 
 of subclauses (I), (II), and (III) of 
 clause (iii);
 (B) not later than 90 days after the date of 
 enactment of the Higher Education Amendments of 
 1998, report the definitions to each 
 institution of higher education and within a 
 reasonable period of time thereafter inform the 
 authorizing committees of those definitions; 
 and
 (C) collect information regarding the data 
 elements described in subparagraph (A) with 
 respect to at least all institutions of higher 
 education participating in programs under title 
 IV, beginning with the information from 
 academic year 2000-2001 and annually 
 thereafter.
 (b) Data Dissemination.--The Secretary shall make available 
the data collected pursuant to subsection (a). Such data shall 
be available in a form that permits the review and comparison 
of the data submissions of individual institutions of higher 
education. Such data shall be presented in a form that is 
easily understandable and allows parents and students to make 
informed decisions based on the costs for typical full-time 
undergraduate students.
 (c) Study.--
 (1) In general.--The Commissioner of Education 
 Statistics shall conduct a national study of 
 expenditures at institutions of higher education. Such 
 study shall include information with respect to--
 (A) the change in tuition and fees compared 
 with the consumer price index and other 
 appropriate measures of inflation;
 (B) faculty salaries and benefits;
 (C) administrative salaries, benefits and 
 expenses;
 (D) academic support services;
 (E) research;
 (F) operations and maintenance; and
 (G) institutional expenditures for 
 construction and technology and the potential 
 cost of replacing instructional buildings and 
 equipment.
 (2) Evaluation.--The study shall include an 
 evaluation of--
 (A) changes over time in the expenditures 
 identified in paragraph (1);
 (B) the relationship of the expenditures 
 identified in paragraph (1) to college costs; 
 and
 (C) the extent to which increases in 
 institutional financial aid and tuition 
 discounting practices affect tuition increases, 
 including the demographics of students 
 receiving such discounts, the extent to which 
 financial aid is provided to students with 
 limited need in order to attract a student to a 
 particular institution, and the extent to which 
 Federal financial aid, including loan aid, has 
 been used to offset the costs of such 
 practices.
 (3) Final report.--The Commissioner of Education 
 Statistics shall submit a report regarding the findings 
 of the study required by paragraph (1) to the 
 appropriate committees of Congress not later than 
 September 30, 2002.
 (4) Higher education market basket.--The Bureau of 
 Labor Statistics, in consultation with the Commissioner 
 of Education Statistics, shall develop a higher 
 education market basket that identifies the items that 
 comprise the costs of higher education. The Bureau of 
 Labor Statistics shall provide a report on the market 
 basket to the Committee on Labor and Human Resources of 
 the Senate and the Committee on Education and the 
 Workforce of the House of Representatives not later 
 than September 30, 2002.
 (5) Fines.--In addition to actions authorized in 
 section 487(c), the Secretary may impose a fine in an 
 amount not to exceed $25,000 on an institution of 
 higher education for failing to provide the information 
 described in paragraph (1) in a timely and accurate 
 manner, or for failing to otherwise cooperate with the 
 National Center for Education Statistics regarding 
 efforts to obtain data on the cost of higher education 
 under this section and pursuant to the program 
 participation agreement entered into under section 487.
 (d) Promotion of the Department of Education Federal Student 
Financial Aid Website.--The Secretary shall display a link to 
the Federal student financial aid website of the Department in 
a prominent place on the homepage of the Department's website.
 (e) Enhanced Student Financial Aid Information.--
 (1) Implementation.--The Secretary shall continue to 
 improve the usefulness and accessibility of the 
 information provided by the Department on college 
 planning and student financial aid.
 (2) Dissemination.--The Secretary shall continue to 
 make the availability of the information on the Federal 
 student financial aid website of the Department widely 
 known, through a major media campaign and other forms 
 of communication.
 (3) Coordination.--As a part of the efforts required 
 under this subsection, the Secretary shall create one 
 website accessible from the Department's website that 
 fulfills the requirements under subsections (b), (f), 
 and (g).
 (f) Improved Availability and Coordination of Information 
Concerning Student Financial Aid Programs for Military Members 
and Veterans.--
 (1) Coordination.--The Secretary, in coordination 
 with the Secretary of Defense and the Secretary of 
 Veterans Affairs, shall create a searchable website 
 that--
 (A) contains information, in simple and 
 understandable terms, about all Federal and 
 State student financial assistance, readmission 
 requirements under section 484C, and other 
 student services, for which members of the 
 Armed Forces (including members of the National 
 Guard and Reserves), veterans, and the 
 dependents of such members or veterans may be 
 eligible; and
 (B) is easily accessible through the website 
 described in subsection (e)(3).
 (2) Implementation.--Not later than one year after 
 the date of enactment of the Higher Education 
 Opportunity Act, the Secretary shall make publicly 
 available the Armed Forces information website 
 described in paragraph (1).
 (3) Dissemination.--The Secretary, in coordination 
 with the Secretary of Defense and the Secretary of 
 Veterans Affairs, shall make the availability of the 
 Armed Forces information website described in paragraph 
 (1) widely known to members of the Armed Forces 
 (including members of the National Guard and Reserves), 
 veterans, the dependents of such members or veterans, 
 States, institutions of higher education, and the 
 general public.
 (4) Definition.--In this subsection, the term 
 ``Federal and State student financial assistance'' 
 means any grant, loan, work assistance, tuition 
 assistance, scholarship, fellowship, or other form of 
 financial aid for pursuing a postsecondary education 
 that is--
 (A) administered, sponsored, or supported by 
 the Department of Education, the Department of 
 Defense, the Department of Veterans Affairs, or 
 a State; and
 (B) available to members of the Armed Forces 
 (including members of the National Guard and 
 Reserves), veterans, or the dependents of such 
 members or veterans.
 (g) Promotion of Availability of Information Concerning Other 
Student Financial Aid Programs.--
 (1) Definition.--For purposes of this subsection, the 
 term ``nondepartmental student financial assistance 
 program'' means any grant, loan, scholarship, 
 fellowship, or other form of financial aid for students 
 pursuing a postsecondary education that is--
 (A) distributed directly to the student or to 
 the student's account at an institution of 
 higher education; and
 (B) operated, sponsored, or supported by a 
 Federal department or agency other than the 
 Department of Education.
 (2) Availability of other student financial aid 
 information.--The Secretary shall ensure that--
 (A) not later than 90 days after the 
 Secretary receives the information required 
 under paragraph (3), the eligibility 
 requirements, application procedures, financial 
 terms and conditions, and other relevant 
 information for each nondepartmental student 
 financial assistance program are searchable and 
 accessible through the Federal student 
 financial aid website in a manner that is 
 simple and understandable for students and the 
 students' families; and
 (B) the website displaying the information 
 described in subparagraph (A) includes a link 
 to the National Database on Financial 
 Assistance for the Study of Science, 
 Technology, Engineering, and Mathematics 
 pursuant to paragraph (4), and the information 
 on military benefits under subsection (f), once 
 such Database and information are available.
 (3) Nondepartmental student financial assistance 
 programs.--The Secretary shall request all Federal 
 departments and agencies to provide the information 
 described in paragraph (2)(A), and each Federal 
 department or agency shall--
 (A) promptly respond to surveys or other 
 requests from the Secretary for the information 
 described in such paragraph; and
 (B) identify for the Secretary any 
 nondepartmental student financial assistance 
 program operated, sponsored, or supported by 
 such Federal department or agency.
 (4) National stem database.--
 (A) In general.--The Secretary shall 
 establish and maintain, on the website 
 described in subsection (e)(3), a National 
 Database on Financial Assistance for the Study 
 of Science, Technology, Engineering, and 
 Mathematics (in this paragraph referred to as 
 the ``STEM Database''). The STEM Database shall 
 consist of information on scholarships, 
 fellowships, and other programs of Federal, 
 State, local, and, to the maximum extent 
 practicable, private financial assistance 
 available for the study of science, technology, 
 engineering, or mathematics at the 
 postsecondary and postbaccalaureate levels.
 (B) Database contents.--The information 
 maintained on the STEM Database shall be 
 displayed on the website in the following 
 manner:
 (i) Separate information.--The STEM 
 Database shall provide separate 
 information for each of the fields of 
 science, technology, engineering, and 
 mathematics, and for postsecondary and 
 postbaccalaureate programs of financial 
 assistance.
 (ii) Information on targeted 
 assistance.--The STEM Database shall 
 provide specific information on any 
 program of financial assistance that is 
 targeted to individuals based on 
 financial need, merit, or student 
 characteristics.
 (iii) Contact and website 
 information.--The STEM Database shall 
 provide--
 (I) standard contact 
 information that an interested 
 person may use to contact a 
 sponsor of any program of 
 financial assistance included 
 in the STEM Database; and
 (II) if such sponsor 
 maintains a public website, a 
 link to the website.
 (iv) Search and match capabilities.--
 The STEM Database shall--
 (I) have a search capability 
 that permits an individual to 
 search for information on the 
 basis of each category of the 
 information provided through 
 the STEM Database and on the 
 basis of combinations of 
 categories of the information 
 provided, including--
 (aa) whether the 
 financial assistance is 
 need- or merit-based; 
 and
 (bb) by relevant 
 academic majors; and
 (II) have a match capability 
 that--
 (aa) searches the 
 STEM Database for all 
 financial assistance 
 opportunities for which 
 an individual may be 
 qualified to apply, 
 based on the student 
 characteristics 
 provided by such 
 individual; and
 (bb) provides 
 information to an 
 individual for only 
 those opportunities for 
 which such individual 
 is qualified, based on 
 the student 
 characteristics 
 provided by such 
 individual.
 (v) Recommendation and disclaimer.--
 The STEM Database shall provide, to the 
 users of the STEM Database--
 (I) a recommendation that 
 students and families should 
 carefully review all of the 
 application requirements prior 
 to applying for any aid or 
 program of student financial 
 assistance; and
 (II) a disclaimer that the 
 non-Federal programs of student 
 financial assistance presented 
 in the STEM Database are not 
 provided or endorsed by the 
 Department or the Federal 
 Government.
 (C) Compilation of financial assistance 
 information.--In carrying out this paragraph, 
 the Secretary shall--
 (i) consult with public and private 
 sources of scholarships, fellowships, 
 and other programs of student financial 
 assistance; and
 (ii) make easily available a process 
 for such entities to provide regular 
 and updated information about the 
 scholarships, fellowships, or other 
 programs of student financial 
 assistance.
 (D) Contract authorized.--In carrying out the 
 requirements of this paragraph, the Secretary 
 is authorized to enter into a contract with a 
 private entity with demonstrated expertise in 
 creating and maintaining databases such as the 
 one required under this paragraph, under which 
 contract the entity shall furnish, and 
 regularly update, all of the information 
 required to be maintained on the STEM Database.
 (5) Dissemination of information.--The Secretary 
 shall take such actions, on an ongoing basis, as may be 
 necessary to disseminate information under this 
 subsection and to encourage the use of the information 
 by interested parties, including sending notices to 
 secondary schools and institutions of higher education.
 (h) No User Fees for Department Financial Aid Websites.--No 
fee shall be charged to any individual to access--
 (1) a database or website of the Department that 
 provides information about higher education programs or 
 student financial assistance, including the [College 
 Navigator] College Scorecard website (or successor 
 website) and the websites and databases described in 
 this section and section 132; or
 (2) information about higher education programs or 
 student financial assistance available through a 
 database or website of the Department.

SEC. 132. TRANSPARENCY IN COLLEGE TUITION FOR CONSUMERS.

 [(a) Definitions.--In this section:
 [(1) College navigator website.--The term ``College 
 Navigator website'' means the College Navigator website 
 operated by the Department and includes any successor 
 website.
 [(2) Cost of attendance.--The term ``cost of 
 attendance'' means the average annual cost of tuition 
 and fees, room and board, books, supplies, and 
 transportation for an institution of higher education 
 for a first-time, full-time undergraduate student 
 enrolled in the institution.
 [(3) Net price.--The term ``net price'' means the 
 average yearly price actually charged to first-time, 
 full-time undergraduate students receiving student aid 
 at an institution of higher education after deducting 
 such aid, which shall be determined by calculating the 
 difference between--
 [(A) the institution's cost of attendance for 
 the year for which the determination is made; 
 and
 [(B) the quotient of--
 [(i) the total amount of need-based 
 grant aid and merit-based grant aid, 
 from Federal, State, and institutional 
 sources, provided to such students 
 enrolled in the institution for such 
 year; and
 [(ii) the total number of such 
 students receiving such need-based 
 grant aid or merit-based grant aid for 
 such year.
 [(4) Tuition and fees.--The term ``tuition and fees'' 
 means the average annual cost of tuition and fees for 
 an institution of higher education for first-time, 
 full-time undergraduate students enrolled in the 
 institution.
 [(b) Calculations for Public Institutions.--In making the 
calculations regarding cost of attendance, net price, and 
tuition and fees under this section with respect to a public 
institution of higher education, the Secretary shall calculate 
the cost of attendance, net price, and tuition and fees at such 
institution in the manner described in subsection (a), except 
that--
 [(1) the cost of attendance, net price, and tuition 
 and fees shall be calculated for first-time, full-time 
 undergraduate students enrolled in the institution who 
 are residents of the State in which such institution is 
 located; and
 [(2) in determining the net price, the average need-
 based grant aid and merit-based grant aid described in 
 subsection (a)(3)(B) shall be calculated based on the 
 average total amount of such aid received by first-
 time, full-time undergraduate students who are 
 residents of the State in which such institution is 
 located, divided by the total number of such resident 
 students receiving such need-based grant aid or merit-
 based grant aid at such institution.
 [(c) College Affordability and Transparency Lists.--
 [(1) Availability of lists.--Beginning July 1, 2011, 
 the Secretary shall make publicly available on the 
 College Navigator website, in a manner that is sortable 
 and searchable by State, the following:
 [(A) A list of the five percent of 
 institutions in each category described in 
 subsection (d) that have the highest tuition 
 and fees for the most recent academic year for 
 which data are available.
 [(B) A list of the five percent of 
 institutions in each such category that have 
 the highest net price for the most recent 
 academic year for which data are available.
 [(C) A list of the five percent of 
 institutions in each such category that have 
 the largest increase, expressed as a percentage 
 change, in tuition and fees over the most 
 recent three academic years for which data are 
 available, using the first academic year of the 
 three-year period as the base year to compute 
 such percentage change.
 [(D) A list of the five percent of 
 institutions in each such category that have 
 the largest increase, expressed as a percentage 
 change, in net price over the most recent three 
 academic years for which data are available, 
 using the first academic year of the three-year 
 period as the base year to compute such 
 percentage change.
 [(E) A list of the ten percent of 
 institutions in each such category that have 
 the lowest tuition and fees for the most recent 
 academic year for which data are available.
 [(F) A list of the ten percent of 
 institutions in each such category that have 
 the lowest net price for the most recent 
 academic year for which data are available.
 [(2) Annual updates.--The Secretary shall annually 
 update the lists described in paragraph (1) on the 
 College Navigator website.
 [(d) Categories of Institutions.--The lists described in 
subsection (c)(1) shall be compiled according to the following 
categories of institutions that participate in programs under 
title IV:
 [(1) Four-year public institutions of higher 
 education.
 [(2) Four-year private, nonprofit institutions of 
 higher education.
 [(3) Four-year private, for-profit institutions of 
 higher education.
 [(4) Two-year public institutions of higher 
 education.
 [(5) Two-year private, nonprofit institutions of 
 higher education.
 [(6) Two-year private, for-profit institutions of 
 higher education.
 [(7) Less than two-year public institutions of higher 
 education.
 [(8) Less than two-year private, nonprofit 
 institutions of higher education.
 [(9) Less than two-year private, for-profit 
 institutions of higher education.
 [(e) Reports by Institutions.--
 [(1) Report to secretary.--If an institution of 
 higher education is included on a list described in 
 subparagraph (C) or (D) of subsection (c)(1), the 
 institution shall submit to the Secretary a report 
 containing the following information:
 [(A) A description of the major areas in the 
 institution's budget with the greatest cost 
 increases.
 [(B) An explanation of the cost increases 
 described in subparagraph (A).
 [(C) A description of the steps the 
 institution will take toward the goal of 
 reducing costs in the areas described in 
 subparagraph (A).
 [(D) In the case of an institution that is 
 included on the same list under subparagraph 
 (C) or (D) of subsection (c)(1) for two or more 
 consecutive years, a description of the 
 progress made on the steps described in 
 subparagraph (C) of this paragraph that were 
 included in the institution's report for the 
 previous year.
 [(E) If the determination of any cost 
 increase described in subparagraph (A) is not 
 within the exclusive control of the 
 institution--
 [(i) an explanation of the extent to 
 which the institution participates in 
 determining such cost increase;
 [(ii) the identification of the 
 agency or instrumentality of State 
 government responsible for determining 
 such cost increase; and
 [(iii) any other information the 
 institution considers relevant to the 
 report.
 [(2) Information to the public.--The Secretary 
 shall--
 [(A) issue an annual report that summarizes 
 all of the reports by institutions required 
 under paragraph (1) to the authorizing 
 committees; and
 [(B) publish such report on the College 
 Navigator website.
 [(f) Exemptions.--
 [(1) In general.--An institution shall not be placed 
 on a list described in subparagraph (C) or (D) of 
 subsection (c)(1), and shall not be subject to the 
 reporting required under subsection (e), if the dollar 
 amount of the institution's increase in tuition and 
 fees, or net price, as applicable, is less than $600 
 for the three-year period described in such 
 subparagraph.
 [(2) Update.--Beginning in 2014, and every three 
 years thereafter, the Secretary shall update the dollar 
 amount described in paragraph (1) based on annual 
 increases in inflation, using the Consumer Price Index 
 for each of the three most recent preceding years.
 [(g) State Higher Education Spending Chart.--The Secretary 
shall annually report on the College Navigator website, in 
charts for each State, comparisons of--
 [(1) the percentage change in spending by such State 
 per full-time equivalent student at all public 
 institutions of higher education in such State, for 
 each of the five most recent preceding academic years;
 [(2) the percentage change in tuition and fees for 
 such students for all public institutions of higher 
 education in such State for each of the five most 
 recent preceding academic years; and
 [(3) the percentage change in the total amount of 
 need-based aid and merit-based aid provided by such 
 State to full-time students enrolled in the public 
 institutions of higher education in the State for each 
 of the five most recent preceding academic years.
 [(h) Net Price Calculator.--
 [(1) Development of net price calculator.--Not later 
 than one year after the date of enactment of theHigher 
 Education Opportunity Act, the Secretary shall, in 
 consultation with institutions of higher education and 
 other appropriate experts, develop a net price 
 calculator to help current and prospective students, 
 families, and other consumers estimate the individual 
 net price of an institution of higher education for a 
 student. The calculator shall be developed in a manner 
 that enables current and prospective students, 
 families, and consumers to determine an estimate of a 
 current or prospective student's individual net price 
 at a particular institution.
 [(2) Calculation of individual net price.--For 
 purposes of this subsection, an individual net price of 
 an institution of higher education shall be calculated 
 in the same manner as the net price of such institution 
 is calculated under subsection (a)(3), except that the 
 cost of attendance and the amount of need-based and 
 merit-based aid available shall be calculated for the 
 individual student as much as practicable.
 [(3) Use of net price calculator by institutions.--
 Not later than two years after the date on which the 
 Secretary makes the calculator developed under 
 paragraph (1) available to institutions of higher 
 education, each institution of higher education that 
 receives Federal funds under title IV shall make 
 publicly available on the institution's website a net 
 price calculator to help current and prospective 
 students, families, and other consumers estimate a 
 student's individual net price at such institution of 
 higher education. Such calculator may be a net price 
 calculator developed--
 [(A) by the Department pursuant to paragraph 
 (1); or
 [(B) by the institution of higher education, 
 if the institution's calculator includes, at a 
 minimum, the same data elements included in the 
 calculator developed under paragraph (1).
 [(4) Disclaimer.--Estimates of an individual net 
 price determined using a net price calculator required 
 under paragraph (3) shall be accompanied by a clear and 
 conspicuous notice--
 [(A) stating that the estimate--
 [(i) does not represent a final 
 determination, or actual award, of 
 financial assistance;
 [(ii) shall not be binding on the 
 Secretary, the institution of higher 
 education, or the State; and
 [(iii) may change;
 [(B) stating that the student must complete 
 the Free Application for Federal Student Aid 
 described in section 483 in order to be 
 eligible for, and receive, an actual financial 
 aid award that includes Federal grant, loan, or 
 work-study assistance under title IV; and
 [(C) including a link to the website of the 
 Department that allows students to access the 
 Free Application for Federal Student Aid 
 described in section 483.
 [(i) Consumer Information.--
 [(1) Availability of title iv institution 
 information.--Not later than one year after the date of 
 enactment of the Higher Education Opportunity Act, the 
 Secretary shall make publicly available on the College 
 Navigator website, in simple and understandable terms, 
 the following information about each institution of 
 higher education that participates in programs under 
 title IV, for the most recent academic year for which 
 satisfactory data are available:
 [(A) A statement of the institution's 
 mission.
 [(B) The total number of undergraduate 
 students who applied to, were admitted by, and 
 enrolled in the institution.
 [(C) For institutions that require SAT or ACT 
 scores to be submitted, the reading, writing, 
 mathematics, and combined scores on the SAT or 
 ACT, as applicable, for the middle 50 percent 
 range of the institution's freshman class.
 [(D) The number of first-time, full-time, and 
 part-time students enrolled at the institution, 
 at the undergraduate and (if applicable) 
 graduate levels.
 [(E) The number of degree- or certificate-
 seeking undergraduate students enrolled at the 
 institution who have transferred from another 
 institution.
 [(F) The percentages of male and female 
 undergraduate students enrolled at the 
 institution.
 [(G) Of the first-time, full-time, degree- or 
 certificate-seeking undergraduate students 
 enrolled at the institution--
 [(i) the percentage of such students 
 who are from the State in which the 
 institution is located;
 [(ii) the percentage of such students 
 who are from other States; and
 [(iii) the percentage of such 
 students who are international 
 students.
 [(H) The percentages of first-time, full-
 time, degree- or certificate-seeking students 
 enrolled at the institution, disaggregated by 
 race and ethnic background.
 [(I) The percentage of undergraduate students 
 enrolled at the institution who are formally 
 registered with the office of disability 
 services of the institution (or the equivalent 
 office) as students with disabilities, except 
 that if such percentage is three percent or 
 less, the institution shall report ``three 
 percent or less''.
 [(J) The percentages of first-time, full-
 time, degree- or certificate-seeking 
 undergraduate students enrolled at the 
 institution who obtain a degree or certificate 
 within--
 [(i) the normal time for completion 
 of, or graduation from, the student's 
 program;
 [(ii) 150 percent of the normal time 
 for completion of, or graduation from, 
 the student's program; and
 [(iii) 200 percent of the normal time 
 for completion of, or graduation from, 
 the student's program;
 [(K) The number of certificates, associate 
 degrees, baccalaureate degrees, master's 
 degrees, professional degrees, and doctoral 
 degrees awarded by the institution.
 [(L) The undergraduate major areas of study 
 at the institution with the highest number of 
 degrees awarded.
 [(M) The student-faculty ratio, the number of 
 full-time and part-time faculty, and the number 
 of graduate assistants with primarily 
 instructional responsibilities, at the 
 institution.
 [(N)(i) The cost of attendance for first-
 time, full-time undergraduate students enrolled 
 in the institution who live on campus;
 [(ii) the cost of attendance for first-time, 
 full-time undergraduate students enrolled in 
 the institution who live off campus; and
 [(iii) in the case of a public institution of 
 higher education and notwithstanding subsection 
 (b)(1), the costs described in clauses (i) and 
 (ii), for--
 [(I) first-time, full-time students 
 enrolled in the institution who are 
 residents of the State in which the 
 institution is located; and
 [(II) first-time, full-time students 
 enrolled in the institution who are not 
 residents of such State.
 [(O) The average annual grant amount 
 (including Federal, State, and institutional 
 aid) awarded to a first-time, full-time 
 undergraduate student enrolled at the 
 institution who receives financial aid.
 [(P) The average annual amount of Federal 
 student loans provided through the institution 
 to undergraduate students enrolled at the 
 institution.
 [(Q) The total annual grant aid awarded to 
 undergraduate students enrolled at the 
 institution, from the Federal Government, a 
 State, the institution, and other sources known 
 by the institution.
 [(R) The percentage of first-time, full-time 
 undergraduate students enrolled at the 
 institution receiving Federal, State, and 
 institutional grants, student loans, and any 
 other type of student financial assistance 
 known by the institution, provided publicly or 
 through the institution, such as Federal work-
 study funds.
 [(S) The number of students enrolled at the 
 institution receiving Federal Pell Grants.
 [(T) The institution's cohort default rate, 
 as defined under section 435(m).
 [(U) The information on campus safety 
 required to be collected under section 485(i).
 [(V) A link to the institution's website that 
 provides, in an easily accessible manner, the 
 following information:
 [(i) Student activities offered by 
 the institution.
 [(ii) Services offered by the 
 institution for individuals with 
 disabilities.
 [(iii) Career and placement services 
 offered by the institution to students 
 during and after enrollment.
 [(iv) Policies of the institution 
 related to transfer of credit from 
 other institutions.
 [(W) A link to the appropriate section of the 
 Bureau of Labor Statistics website that 
 provides information on regional data on 
 starting salaries in all major occupations.
 [(X) Information required to be submitted 
 under paragraph (4) and a link to the 
 institution pricing summary page described in 
 paragraph (5).
 [(Y) In the case of an institution that was 
 required to submit a report under subsection 
 (e)(1), a link to such report.
 [(Z) The availability of alternative tuition 
 plans, which may include guaranteed tuition 
 plans.
 [(2) Annual updates.--The Secretary shall annually 
 update the information described in paragraph (1) on 
 the College Navigator website.
 [(3) Consultation.--The Secretary shall regularly 
 consult with current and prospective college students, 
 family members of such students, institutions of higher 
 education, and other experts to improve the usefulness 
 and relevance of the College Navigator website, with 
 respect to the presentation of the consumer information 
 collected in paragraph (1).
 [(4) Data collection.--The Commissioner for Education 
 Statistics shall continue to update and improve the 
 Integrated Postsecondary Education Data System 
 (referred to in this section as ``IPEDS''), including 
 the reporting of information by institutions and the 
 timeliness of the data collected.
 [(5) Institution pricing summary page.--
 [(A) Availability of list of participating 
 institutions.--The Secretary shall make 
 publicly available on the College Navigator 
 website in a sortable and searchable format a 
 list of all institutions of higher education 
 that participate in programs under title IV, 
 which list shall, for each institution, include 
 the following:
 [(i) The tuition and fees for each of 
 the three most recent academic years 
 for which data are available.
 [(ii) The net price for each of the 
 three most recent available academic 
 years for which data are available.
 [(iii)(I) During the period beginning 
 July 1, 2010, and ending June 30, 2013, 
 the net price for students receiving 
 Federal student financial aid under 
 title IV, disaggregated by the income 
 categories described in paragraph (6), 
 for the most recent academic year for 
 which data are available.
 [(II) Beginning July 1, 2013, the net 
 price for students receiving Federal 
 student financial aid under title IV, 
 disaggregated by the income categories 
 described in paragraph (6), for each of 
 the three most recent academic years 
 for which data are available.
 [(iv) The average annual percentage 
 change and average annual dollar change 
 in such institution's tuition and fees 
 for each of the three most recent 
 academic years for which data are 
 available.
 [(v) The average annual percentage 
 change and average annual dollar change 
 in such institution's net price for 
 each of the three most recent preceding 
 academic years for which data are 
 available.
 [(vi) A link to the webpage on the 
 College Navigator website that provides 
 the information described in paragraph 
 (1) for the institution.
 [(B) Annual updates.--The Secretary shall 
 annually update the lists described in 
 subparagraph (A) on the College Navigator 
 website.
 [(6) Income categories.--
 [(A) In general.--For purposes of reporting 
 the information required under this subsection, 
 the following income categories shall apply for 
 students who receive Federal student financial 
 aid under title IV:
 [(i) $0-30,000.
 [(ii) $30,001-48,000.
 [(iii) $48,001-75,000.
 [(iv) $75,001-110,000.
 [(v) $110,001 and more.
 [(B) Adjustment.--The Secretary may adjust 
 the income categories listed in subparagraph 
 (A) using the Consumer Price Index if the 
 Secretary determines such adjustment is 
 necessary.
 [(j) Multi-Year Tuition Calculator.--
 [(1) Development of multi-year tuition calculator.--
 Not later than one year after the date of enactment of 
 theHigher Education Opportunity Act, the Secretary 
 shall, in consultation with institutions of higher 
 education, financial planners, and other appropriate 
 experts, develop a multi-year tuition calculator to 
 help current and prospective students, families of such 
 students, and other consumers estimate the amount of 
 tuition an individual may pay to attend an institution 
 of higher education in future years.
 [(2) Calculation of multi-year tuition.--The multi-
 year tuition calculator described in paragraph (1) 
 shall--
 [(A) allow an individual to select an 
 institution of higher education for which the 
 calculation shall be made;
 [(B) calculate an estimate of tuition and 
 fees for each year of the normal duration of 
 the program of study at such institution by--
 [(i) using the tuition and fees for 
 such institution, as reported under 
 subsection (i)(5)(A)(i), for the most 
 recent academic year for which such 
 data are reported; and
 [(ii) determining an estimated annual 
 percentage change for each year for 
 which the calculation is made, based on 
 the annual percentage change in such 
 institution's tuition and fees, as 
 reported under subsection 
 (i)(5)(A)(iv), for the most recent 
 three-year period for which such data 
 are reported;
 [(C) calculate an estimate of the total 
 amount of tuition and fees to complete a 
 program of study at such institution, based on 
 the normal duration of such program, using the 
 estimate calculated under subparagraph (B) for 
 each year of the program of study;
 [(D) provide the individual with the option 
 to replace the estimated annual percentage 
 change described in subparagraph (B)(ii) with 
 an alternative annual percentage change 
 specified by the individual, and calculate an 
 estimate of tuition and fees for each year and 
 an estimate of the total amount of tuition and 
 fees using the alternative percentage change;
 [(E) in the case of an institution that 
 offers a multi-year tuition guarantee program, 
 allow the individual to have the estimates of 
 tuition and fees described in subparagraphs (B) 
 and (C) calculated based on the provisions of 
 such guarantee program for the tuition and fees 
 charged to a student, or cohort of students, 
 enrolled for the duration of the program of 
 study; and
 [(F) include any other features or 
 information determined to be appropriate by the 
 Secretary.
 [(3) Availability and comparison.--The multi-year 
 tuition calculator described in paragraph (1) shall be 
 available on the College Navigator website and shall 
 allow current and prospective students, families of 
 such students, and consumers to compare information and 
 estimates under this subsection for multiple 
 institutions of higher education.
 [(4) Disclaimer.--Each calculation of estimated 
 tuition and fees made using the multi-year tuition 
 calculator described in paragraph (1) shall be 
 accompanied by a clear and conspicuous notice--
 [(A) stating that the calculation--
 [(i) is only an estimate and not a 
 guarantee of the actual amount the 
 student may be charged;
 [(ii) is not binding on the 
 Secretary, the institution of higher 
 education, or the State; and
 [(iii) may change, subject to the 
 availability of financial assistance, 
 State appropriations, and other 
 factors;
 [(B) stating that the student must complete 
 the Free Application for Federal Student Aid 
 described in section 483 in order to be 
 eligible for, and receive, an actual financial 
 aid award that includes Federal grant, loan, or 
 work-study assistance under title IV; and
 [(C) including a link to the website of the 
 Department that allows students to access the 
 Free Application for Federal Student Aid 
 described in section 483.]
 (a) Definitions.--In this section:
 (1) College scorecard website.--The term ``College 
 Scorecard website'' means the College Scorecard website 
 required under subsection (b) and includes any 
 successor website.
 (2) Cost of attendance.--The term ``cost of 
 attendance'' has the meaning given such term in section 
 472(a).
 (3) Required costs.--The term ``required costs'' 
 means the sum of all the items listed in section 472(a) 
 that are required by an institution of higher education 
 for a program of study for the program length of a 
 program of study, for the time to credential for a 
 student, or for an award year of a program of study, as 
 applicable, including--
 (A) the tuition and fees normally assessed a 
 student enrolled in such program of study 
 carrying the same academic workload, as 
 determined by the institution; and
 (B) in a case in which the institution 
 requires a student to reside in institutionally 
 owned or operated housing or to use 
 institutionally owned or operated food 
 services, the applicable standard allowance for 
 such housing or food services determined by the 
 institution in accordance with section 
 472(a)(5).
 (4) Amount of grant and scholarship aid.--The term 
 ``amount of grant and scholarship aid'' means the sum 
 of all of the grant and scholarship aid that is 
 available to the student for the program length of a 
 program of study, for the time to credential for a 
 student, or for an award year of a program of study, as 
 applicable, that a student does not have to repay, 
 including need-based, merit-based, or athletic-based, 
 or another type of grant and scholarship aid, that is--
 (A) offered under title IV;
 (B) offered through other Federal programs;
 (C) offered by the institution;
 (D) offered by a State; or
 (E) offered by any other source.
 (5) Net price required for completion.--
 (A) Total net price required for 
 completion.--The term ``total net price 
 required for completion'' means, with respect 
 to a student in a program of study--
 (i) the required costs charged to 
 such student for the program of study 
 for the time to credential; minus
 (ii) the amount of grant and 
 scholarship aid that is available to 
 the student for such program for the 
 time to credential.
 (B) Annual net price required for 
 completion.--The term ``annual net price 
 required for completion'' means, with respect 
 to a student in a program of study--
 (i) the required costs charged to 
 such student for the program of study 
 for an award year; minus
 (ii) the amount of grant and 
 scholarship aid that is available to 
 the student for such program for such 
 award year.
 (6) Net price of attendance.--
 (A) Total net price of attendance.--The term 
 ``total net price of attendance'' means, with 
 respect to a student in a program of study, the 
 sum of--
 (i) the total net price required for 
 completion; and
 (ii) the sum, for the time to 
 credential, of all the costs listed in 
 section 472(a) that are not required 
 costs.
 (B) Annual net price of attendance.--The term 
 ``annual net price of attendance'' means, with 
 respect to a student in a program of study, the 
 net price of attendance for a specific year of 
 the program of study, determined by 
 disaggregating the total net price of 
 attendance for the student by each year of the 
 student's time to credential.
 (7) Program length.--The term ``program length'' 
 means the minimum amount of time in weeks, months, or 
 years that is specified in the catalog, marketing 
 materials, or other official publications of an 
 institution of higher education for a full-time student 
 to complete the requirements to obtain the degree or 
 credential awarded for a specific program of study.
 (8) Time to credential.--The term ``time to 
 credential'' means, with respect to a student, the 
 actual amount of time in weeks, months, or years it 
 takes the student to complete the requirements to 
 obtain the degree or credential awarded for a specific 
 program of study.
 (b) Consumer Information.--
 (1) Availability of information for title iv 
 institutions and programs.--Not later than 18 months 
 after the effective date of this subsection, the 
 Secretary shall make publicly available on the College 
 Scorecard website the following information with 
 respect to students of the institution who have 
 received Federal financial assistance described in 
 paragraph (2)(I), for the most recent award year for 
 which such information is available:
 (A) Institutions.--With respect to each 
 institution of higher education that 
 participates in a program under title IV, the 
 following:
 (i) A link to the website of the 
 institution.
 (ii) A link to the Universal Net 
 Price calculator described in 
 subsection (c) and, if applicable, a 
 link to any net price calculator 
 developed by the institution in 
 accordance with paragraph (7) of such 
 subsection.
 (iii) Information on the type of 
 institution, including predominant and 
 highest credential awarded, research 
 intensity, and programs of study 
 offered.
 (iv) In the case of an institution 
 that requires scores for a college 
 entrance examination (such as the SAT 
 or ACT) to be submitted, data on such 
 submitted scores.
 (v) The acceptance rate, determined 
 by calculating the percentage of 
 individuals who submitted a completed 
 application to the institution who were 
 accepted for enrollment.
 (vi) The institution's cohort default 
 rate, as defined under section 435(m).
 (vii) A link to the website of the 
 institution containing the information 
 on campus safety required to be 
 collected under section 485(i).
 (B) Institutions and programs of study.--With 
 respect to each such institution and to each 
 program of study at each such institution, the 
 following:
 (i) The geographic location.
 (ii) Information on student 
 enrollment, including the number and 
 percentage of students enrolled full-
 time, less than full-time, and enrolled 
 in distance education.
 (iii) Information on the number of 
 degree- or certificate-seeking 
 undergraduate students who have 
 transferred from another institution.
 (iv) Information on student 
 progression and completion, including 
 time to credential and rates of 
 withdrawal, retention, transfer, or 
 completion.
 (v) Information on college costs and 
 financial aid, including--
 (I) the average, median, 
 minimum, and maximum values 
 of--
 (aa) the required 
 costs for such award 
 year (determined for an 
 institution based on 
 the required costs for 
 all programs of study);
 (bb) the cost of 
 attendance for such 
 award year (determined 
 for an institution 
 based on the cost of 
 attendance for all 
 programs of study);
 (cc) the amount of 
 grant and scholarship 
 aid received by 
 students for such award 
 year (determined for an 
 institution based on 
 the amount of grant and 
 scholarship aid 
 received by students 
 for all programs of 
 study);
 (dd) the information 
 described in item (cc) 
 and subclause (II)(cc), 
 disaggregated--
 (AA) by the 
 type of source 
 described in 
 subparagraphs 
 (A) through (E) 
 of subsection 
 (a)(4); and
 (BB) by 
 whether such 
 aid is need-
 based, merit-
 based, or 
 athletic-based, 
 or is another 
 type of aid;
 (II) with respect to students 
 who completed a credential 
 during the most recent award 
 year, the average, median, 
 minimum, and maximum values 
 of--
 (aa) the program 
 length (determined for 
 an institution based on 
 the program length for 
 all programs of study);
 (bb) the time to 
 credential (determined 
 for an institution 
 based on the time to 
 credential for all 
 programs of study);
 (cc) the amount of 
 grant and scholarship 
 aid received for the 
 time to credential 
 (determined for an 
 institution based on 
 the amount of grant and 
 scholarship aid 
 received by students 
 for all programs of 
 study);
 (dd) the total net 
 price required for 
 completion (determined 
 for an institution 
 based on the total net 
 price required for 
 completion for all 
 programs of study); and
 (ee) the total net 
 price required for 
 attendance (determined 
 for an institution 
 based on the total net 
 price required for 
 attendance for all 
 programs of study);
 (III) the number and 
 percentage of students 
 receiving any amount of grant 
 and scholarship aid for such 
 award year, and with respect to 
 students who completed a 
 credential during the most 
 recent award year, the number 
 and percentage of such students 
 receiving any amount of grant 
 and scholarship aid for the 
 time to credential;
 (IV) the average annual 
 percentage change and average 
 annual dollar change in the 
 required costs for each of the 
 three most recent academic 
 years for which data are 
 available; and
 (V) the average annual 
 percentage change and average 
 annual dollar change in the 
 total and annual net price 
 required for completion for 
 each of the three most recent 
 academic years for which data 
 are available.
 (vi) Information on student debt and 
 repayment, including--
 (I) the average, median, 
 minimum, and maximum amounts 
 borrowed by students under 
 title IV;
 (II) information with respect 
 to repayment of loans made 
 under title IV, including 
 borrower-based repayment rates, 
 dollar-based repayment rates, 
 and time spent in repayment; 
 and
 (III) the number and 
 percentage of students who--
 (aa) are borrowers of 
 a loan made under title 
 IV;
 (bb) are not 
 borrowers of a loan 
 made under title IV, 
 but have at least one 
 parent who is a 
 borrower of a loan made 
 under title IV on 
 behalf of the student; 
 and
 (cc) are borrowers of 
 a loan made under title 
 IV, and have at least 
 one parent who is a 
 borrower of a loan made 
 under title IV on 
 behalf of the student.
 (vii) Information on the earnings of 
 students, including the average, 
 median, minimum, and maximum values 
 of--
 (I) with respect to students 
 who complete a program of study 
 in the most recent award year 
 for which data are available--
 (aa) the annual 
 earnings of such 
 students; and
 (bb) the value-added 
 earnings (as defined in 
 section 
 481(b)(3)(A)(iv)) of 
 such students; and
 (II) the annual earnings of 
 students who were enrolled in a 
 program of study at the 
 institution during the most 
 recent award year for which 
 data are available, and who at 
 the time the information is 
 reported--
 (aa) have not 
 completed such program 
 of study; and
 (bb) are not enrolled 
 at the institution in 
 any program of study.
 (C) Programs of study.--With respect to each 
 program of study at each such institution, the 
 credential awarded for completion of the 
 program of study.
 (2) Disaggregated information.--The Secretary shall 
 ensure the information described in paragraph (1) is 
 disaggregated, as applicable, by the following student 
 characteristics:
 (A) Financial circumstances including--
 (i) household income categories, as 
 determined by students' and families' 
 adjusted gross income; and
 (ii) student aid index categories, as 
 determined by the Secretary.
 (B) Sex.
 (C) Race and ethnicity.
 (D) Classification as a student with a 
 disability.
 (E) Enrollment status, including part-time or 
 full-time enrollment, and status as a distance 
 education student.
 (F) Status as a first year, second year, 
 third year, or subsequent year student, based 
 on the number of years a student has been 
 enrolled at the institution or in the program 
 of study, as applicable.
 (G) Status as an in-district, in-State, or 
 out-of-State student.
 (H) Status as an international student.
 (I) The type of Federal financial assistance 
 received, including--
 (i) a Pell Grant;
 (ii) a loan made under title IV; and
 (iii) assistance described in section 
 131(f)(4) administered, sponsored, or 
 supported by the Department of Defense 
 or the Department of Veterans Affairs.
 (J) Status as a participant in a program 
 described in section 116(b)(3)(A)(ii) of the 
 Workforce Innovation and Opportunity Act (29 
 U.S.C. 3141(b)(3)(A)(ii)).
 (3) Comparisons; access; privacy.--The Secretary 
 shall ensure that the College Scorecard website--
 (A) includes a method for users to easily 
 compare institutions and programs, including in 
 a manner that allows for such comparison based 
 on--
 (i) the institutional and program 
 information described in paragraph (1); 
 and
 (ii) the student characteristics 
 described in paragraph (2);
 (B) provides access to information in an 
 electronic and downloadable format; and
 (C) complies with applicable Federal privacy 
 statutes and uses appropriate statistical 
 disclosure limitation techniques necessary to 
 ensure that the data released to the public 
 cannot be used to identify specific 
 individuals, including with respect to 
 disaggregated information under paragraph (2).
 (4) Annual updates; adjustments.--
 (A) Annual data.--The Secretary shall 
 annually update the data on the College 
 Scorecard website required under this 
 subsection.
 (B) Adjustments.--The Secretary may adjust 
 the data required under subclauses (IV) and (V) 
 of paragraph (1)(B)(v) using the Consumer Price 
 Index if the Secretary determines such 
 adjustment is necessary.
 (5) Data collection.--The Commissioner for Education 
 Statistics shall continue to update and improve the 
 Integrated Postsecondary Education Data System 
 (referred to in this section as ``IPEDS''), including 
 the reporting of information by institutions and the 
 timeliness of the data collected.
 (c) Universal Net Price Calculator.--
 (1) Establishment.--Not later than 18 months after 
 the effective date of this subsection, the Secretary 
 shall establish, on a dedicated website of the 
 Department, a Universal Net Price Calculator that--
 (A) allows an individual to select one or 
 more institutions of higher education and one 
 or more programs of study offered by each 
 selected institution for which estimates shall 
 be calculated;
 (B) makes available to the individual, with 
 respect to each selected institution and each 
 selected program of study, the individual's--
 (i) annual estimated net price 
 required for completion for each year 
 of expected enrollment based on the 
 program length of a program of study, 
 based on the average annual net price 
 required for completion for similarly 
 situated students (based on the 
 individual's information described in 
 subparagraph (C)(iv)) for such 
 institution or program for the most 
 recent award year, adjusted in 
 accordance with clauses (i) through 
 (iii) of subparagraph (C);
 (ii) total estimated net price 
 required for completion equal to the 
 sum of the annual estimated net price 
 required for completion for each year 
 described in clause (i);
 (iii) annual estimated net price of 
 attendance for each year of expected 
 enrollment based on the program length 
 of a program of study, based on the 
 average annual net price of attendance 
 for similarly situated students (based 
 on the individual's information 
 described in subparagraph (C)(iv)) for 
 such institution or program for the 
 most recent award year, adjusted in 
 accordance with clauses (i) through 
 (iii) of subparagraph (C); and
 (iv) total estimated net price of 
 attendance equal to the sum of the 
 annual estimated net price of 
 attendance for each year described in 
 clause (iii);
 (C) with respect to calculating net price 
 estimates as required by subparagraph (B)--
 (i) determines an estimated annual 
 percentage change for each year for 
 which a net price calculation is made, 
 based on the annual percentage change 
 in an institution's or program's 
 required costs and other costs under 
 section 472(a), as applicable, for the 
 most recent three-year period for which 
 such data are reported;
 (ii) provides the individual with the 
 option to replace the estimated annual 
 percentage change described in clause 
 (i) with an alternative annual 
 percentage change specified by the 
 individual;
 (iii) in the case of an institution 
 that offers a multi-year tuition or net 
 price guarantee program, allow the 
 individual to have net price estimates 
 calculated based on the provisions of 
 such guarantee program; and
 (iv) uses the individual's 
 information, based on--
 (I) the single set of 
 questions developed by the 
 Secretary in accordance with 
 paragraph (2);
 (II) the student-level data 
 elements reported by 
 institutions in accordance with 
 section 668.408 of title 34, 
 Code of Federal Regulations (or 
 successor regulations);
 (III) in the case of an 
 individual who submits a Free 
 Application for Federal Student 
 Aid described in section 483, 
 the contents of such 
 application; and
 (IV) any additional 
 information provided by the 
 individual with respect to the 
 individual's grant and 
 scholarship aid;
 (D) includes a method for users to easily 
 compare institutions and programs; and
 (E) provides access to information in an 
 electronic and downloadable format.
 (2) Development of input questions.--The Secretary 
 shall develop a single set of questions for purposes of 
 capturing the information specified in subsection 
 (b)(2).
 (3) Updates.--
 (A) Data.--The Secretary shall update the 
 data on the Universal Net Price Calculator 
 Website, as required under this subsection, not 
 less than annually.
 (B) Technology and format.--The Secretary 
 shall regularly assess the format and 
 technology of the Universal Net Price 
 Calculator website and make any changes or 
 updates that the Secretary considers 
 appropriate.
 (4) Integration with other federal financial aid 
 resources.--In accordance with subsection (d)(5) of 
 section 483, the Secretary shall ensure that a website 
 link or other means of accessing the Universal Net 
 Price Calculator is included on the FAFSA website (or 
 similar successor website).
 (5) Interagency coordination.--The Secretary, in 
 consultation with each appropriate head of a department 
 or agency of the Federal Government, shall ensure, to 
 the greatest extent practicable, that any information 
 related to higher education that is published by such 
 department or agency is consistent with the information 
 published on the Universal Net Price Calculator 
 website.
 (6) Consumer testing.--In developing and maintaining 
 the College Scorecard website and the Universal Net 
 Price Calculator website, the Secretary, in 
 consultation with each appropriate head of each 
 appropriate department and agency of the Federal 
 Government shall--
 (A) not later than 6 months after the date of 
 the effective date of this subsection, and not 
 less than once every 4 years thereafter, 
 conduct consumer testing with appropriate 
 persons, including current and prospective 
 college students, family members of such 
 students, institutions of higher education, and 
 experts, to--
 (i) improve the usefulness and 
 relevance of the College Scorecard 
 website, with respect to the 
 presentation of the consumer 
 information collected pursuant to 
 subsection (b); and
 (ii) ensure that the Universal Net 
 Price Calculator website is usable and 
 easily understandable and provides 
 useful and relevant information to 
 students and families; and
 (B) display prominently on such websites in 
 simple, understandable, and unbiased terms for 
 the most recent academic year for which 
 satisfactory data is available, the categories 
 of information described in paragraphs (1) and 
 (2) of subsection (b) and paragraph (1)(B) of 
 this subsection that were determined to be 
 useful and relevant to students and families 
 based on the consumer testing described in 
 subparagraph (A).
 (7) Use of net price calculator by institutions.--Not 
 later than two years after the date on which the 
 Secretary makes the calculator developed under 
 paragraph (1) available to institutions of higher 
 education, each institution of higher education that 
 receives Federal funds under title IV shall make 
 publicly available on the institution's website a net 
 price calculator to provide to current and prospective 
 students, families, and other consumers a student's 
 individual net price estimates at such institution of 
 higher education. Such calculator may be a net price 
 calculator developed--
 (A) by the Department pursuant to paragraph 
 (1); or
 (B) by the institution of higher education, 
 if the institution's calculator includes, at a 
 minimum, the same data elements included in the 
 calculator developed under paragraph (1).
 (8) Notice.--A net price estimate calculated for an 
 individual using the Universal Net Price Calculator 
 under this subsection shall be accompanied by a clear 
 and conspicuous notice--
 (A) stating that the estimate--
 (i) does not represent a final 
 determination, or actual award, of 
 financial assistance;
 (ii) shall not be binding on the 
 Secretary, an institution of higher 
 education, or a State; and
 (iii) may change;
 (B) stating that an individual must complete 
 the Free Application for Federal Student Aid 
 described in section 483 in order to be 
 eligible for, and receive, an actual financial 
 aid award that includes Federal grant, loan, or 
 work-study assistance under title IV;
 (C) including a link to the website of the 
 Department that allows individuals to access 
 the Free Application for Federal Student Aid 
 described in section 483; and
 (D) explaining that the net price estimate 
 calculated for an individual using the 
 Universal Net Price Calculator under this 
 subsection may differ from the net price 
 calculated for such individual using an 
 institution's net price calculator due to 
 differences in data or methodology.
 [(k)] (d) Student Aid Recipient Survey.--
 (1) Survey required.--The Secretary, acting through 
 the Commissioner for Education Statistics, shall 
 conduct, on a State-by-State basis, a survey of 
 recipients of Federal student financial aid under title 
 IV--
 (A) to identify the population of students 
 receiving such Federal student financial aid;
 (B) to describe the income distribution and 
 other socioeconomic characteristics of 
 recipients of such Federal student financial 
 aid;
 (C) to describe the combinations of aid from 
 Federal, State, and private sources received by 
 such recipients from all income categories;
 (D) to describe the--
 (i) debt burden of such loan 
 recipients, and their capacity to repay 
 their education debts; and
 (ii) the impact of such debt burden 
 on the recipients' course of study and 
 post-graduation plans;
 (E) to describe the impact of the cost of 
 attendance of postsecondary education in the 
 determination by students of what institution 
 of higher education to attend; and
 (F) to describe how the costs of textbooks 
 and other instructional materials affect the 
 costs of postsecondary education for students.
 (2) Frequency.--The survey shall be conducted on a 
 regular cycle and not less often than once every four 
 years.
 (3) Survey design.--The survey shall be 
 representative of students from all types of 
 institutions, including full-time and part-time 
 students, undergraduate, graduate, and professional 
 students, and current and former students.
 (4) Dissemination.--The Commissioner for Education 
 Statistics shall disseminate to the public, in printed 
 and electronic form, the information resulting from the 
 survey.
 [(l)] (e) Regulations.--The Secretary is authorized to issue 
such regulations as may be necessary to carry out this section.

 * * * * * * *

 TITLE IV--STUDENT ASSISTANCE

 * * * * * * *

 PART F--NEED ANALYSIS

 * * * * * * *

SEC. 472. COST OF ATTENDANCE.

 (a) In General.--For the purpose of this title, the term 
``cost of attendance'' means--
 (1) tuition and fees normally assessed a student 
 [carrying the same academic workload] enrolled in the 
 same program of study and carrying the same academic 
 workload as determined by the institution;
 (2) an allowance for books, course materials, 
 supplies, and equipment, which shall include all such 
 costs required of all such students in the [same course 
 of study] same program of study, including a reasonable 
 allowance for the documented rental or upfront purchase 
 of a personal computer, as determined by the 
 institution;
 (3) an allowance for transportation, which may 
 include transportation between campus, residences, and 
 place of work, as determined by the institution;
 (4) an allowance for miscellaneous personal expenses, 
 for a student attending the institution on at least a 
 half-time basis, as determined by the institution;
 (5) an allowance for living expenses, including food 
 and housing costs, to be incurred by the student 
 attending the institution on at least a half-time 
 basis, as determined by the institution, which shall 
 include--
 (A) for a student electing institutionally 
 owned or operated food services, such as board 
 or meal plans, a standard allowance for such 
 services that provides the equivalent of three 
 meals each day;
 (B) for a student not electing 
 institutionally owned or operated food 
 services, such as board or meal plans, a 
 standard allowance for purchasing food off 
 campus that provides the equivalent of three 
 meals each day;
 (C) for a student without dependents residing 
 in institutionally owned or operated housing, a 
 standard allowance determined by the 
 institution based on the average or median 
 amount assessed to such residents for housing 
 charges, whichever is greater;
 (D) for a student with dependents residing in 
 institutionally owned or operated housing, a 
 standard allowance determined by the 
 institution based on the average or median 
 amount assessed to such residents for housing 
 charges, whichever is greater;
 (E) for a student living off campus, and not 
 in institutionally owned or operated housing, a 
 standard allowance for rent or other housing 
 costs;
 (F) for a dependent student residing at home 
 with parents, a standard allowance that shall 
 not be zero determined by the institution;
 (G) for a student living in housing located 
 on a military base or for which a basic 
 allowance is provided under section 403(b) of 
 title 37, United States Code, a standard 
 allowance for food based upon such student's 
 choice of purchasing food on-campus or off-
 campus (determined respectively in accordance 
 with subparagraph (A) or (B)), but not for 
 housing costs; and
 (H) for all other students, an allowance 
 based on the expenses reasonably incurred by 
 such students for housing and food;
 (6) for a student engaged in a program of study by 
 correspondence, only tuition and fees and, if required, 
 books and supplies, travel, and housing and food costs 
 incurred specifically in fulfilling a required period 
 of residential training;
 (7) for a confined or incarcerated student, only 
 tuition, fees, books, course materials, supplies, 
 equipment, and the cost of obtaining a license, 
 certification, or a first professional credential in 
 accordance with paragraph (14);
 (8) for a student enrolled in an academic program in 
 a program of study abroad approved for credit by the 
 student's home institution, reasonable costs associated 
 with such study (as determined by the institution at 
 which such student is enrolled);
 (9) for a student with one or more dependents, an 
 allowance based on the estimated actual expenses 
 incurred for such dependent care, based on the number 
 and age of such dependents, except that--
 (A) such allowance shall not exceed the 
 reasonable cost in the community in which such 
 student resides for the kind of care provided; 
 and
 (B) the period for which dependent care is 
 required includes, but is not limited to, 
 class-time, study-time, field work, 
 internships, and commuting time;
 (10) for a student with a disability, an allowance 
 (as determined by the institution) for those expenses 
 related to the student's disability, including special 
 services, personal assistance, transportation, 
 equipment, and supplies that are reasonably incurred 
 and not provided for by other assisting agencies;
 (11) for a student receiving all or part of the 
 student's instruction by means of telecommunications 
 technology, no distinction shall be made with respect 
 to the mode of instruction in determining costs;
 (12) for a student engaged in a work experience under 
 a cooperative education program, an allowance for 
 reasonable costs associated with such employment (as 
 determined by the institution);
 (13) for a student who receives a Federal student 
 loan made under this title or any other Federal law, to 
 cover a student's cost of attendance at the 
 institution, an allowance for the actual cost of any 
 loan fee, origination fee, or insurance premium charged 
 to such student or the parent of such student on such 
 loan, or the average cost of any such fee or premium, 
 as applicable; and
 (14) for a student in a [program] program of study 
 requiring professional licensure, certification, or a 
 first professional credential, the cost of obtaining 
 the license, certification, or a first professional 
 credential.
 (b) Special Rule for Living Expenses for Less-than-half-time 
Students.--For students attending an institution of higher 
education less than half-time, an institution of higher 
education may include an allowance for living expenses, 
including food and housing costs in accordance with subsection 
(a)(4) for up to three semesters, or the equivalent, with no 
more than two semesters being consecutive.
 (c) Disclosure of Cost of Attendance Elements.--Each 
institution shall make publicly available on the institution's 
website a list of all the elements of cost of attendance of 
each program of study at the institution described in 
paragraphs (1) through (14) of subsection (a), and shall 
disclose such elements on any portion of the website describing 
tuition and fees [of the institution] of such programs of study 
at the institution.

 * * * * * * *

 Part G--General Provisions Relating to Student 
 Assistance Programs 

 * * * * * * *

SEC. 485E. EARLY AWARENESS AND OUTREACH OF FINANCIAL AID ELIGIBILITY.

 (a) In General.--The Secretary shall implement early outreach 
activities in order to provide prospective students and their 
families with information about financial aid and estimates of 
financial aid. Such early outreach activities shall include the 
activities described in subsections (b), (c), and (d).
 (b) Pell Grant Early Awareness Estimates.--
 (1) In general.--The Secretary shall produce a 
 consumer-tested method of estimating student 
 eligibility for Federal Pell Grants under section 
 401(b) utilizing the variables of family size and 
 adjusted gross income, presented in electronic format. 
 There shall be a method for students to indicate 
 whether they are, or will be in--
 (A) a single-parent household;
 (B) a household with two parents; or
 (C) a household with no children or 
 dependents.
 (2) Consumer testing.--
 (A) In general.--The method of estimating 
 eligibility described in paragraph (1) shall be 
 consumer tested with prospective first-
 generation students and families as well as 
 low-income individuals and families.
 (B) Updates.--For award year 2024-2025 and 
 each fourth succeeding award year thereafter, 
 the design of the method of estimating 
 eligibility shall be updated based on 
 additional consumer testing with the 
 populations described in subparagraph (A).
 (3) Distribution.--The method of estimating 
 eligibility described in paragraph (1) shall be--
 (A) made publicly and prominently available 
 on the Department's website; and
 (B) actively shared by the Secretary with--
 (i) institutions of higher education 
 participating in programs under this 
 title;
 (ii) all middle and secondary schools 
 eligible for funds under part A of 
 title I of the Elementary and Secondary 
 Education Act of 1965;
 (iii) local educational agencies and 
 middle schools and high schools that 
 serve students not less than 25 percent 
 of whom meet a measure of poverty as 
 described in section 1113(a)(5) of the 
 Elementary and Secondary Education Act 
 of 1965; and
 (iv) agencies responsible for 
 administering means-tested Federal 
 benefit programs, as defined in section 
 479(b)(4)(H).
 [(4) Electronic estimator on fafsa.--In accordance 
 with subsection (d)(5) of section 483, the Secretary 
 shall maintain an electronic method for applicants to 
 enter income and family size, and level of education 
 sought information to calculate a non-binding estimate 
 (which may include a range, ceiling, or minimum) of the 
 applicant's Federal financial aid available under this 
 title and shall place such calculator on a prominent 
 location on the FAFSA website and in a manner that 
 encourages students to fill out the FAFSA.]
 (c) Early Awareness Plans.--The Secretary shall establish and 
implement early awareness and outreach plans to provide early 
information about the availability of Federal financial aid and 
estimates of prospective students' eligibility for Federal 
financial aid as well as to promote the attainment of 
postsecondary education specifically among prospective first-
generation students and families as well as low-income 
individuals and families, as follows:
 (1) Outreach plans for low-income families.--
 (A) In general.--The Secretary shall develop 
 plans for each population described in this 
 subparagraph to disseminate information about 
 the availability of Federal financial aid under 
 this title, in addition to and in coordination 
 with the distribution of the method of 
 estimating eligibility under subsection (b), 
 to--
 (i) all middle schools and secondary 
 schools eligible for funds under part A 
 of title I of the Elementary and 
 Secondary Education Act of 1965;
 (ii) local educational agencies and 
 middle schools and high schools that 
 serve students not less than 25 percent 
 of whom meet a measure of poverty as 
 described in section 1113(a)(5) of the 
 Elementary and Secondary Education Act;
 (iii) households receiving assistance 
 under the supplemental nutrition 
 assistance program established under 
 the Food and Nutrition Act of 2008 (7 
 U.S.C. 2011 et seq.); and
 (iv) agencies responsible for 
 administering means-tested Federal 
 benefit programs, as defined in section 
 479(b)(4)(H).
 (B) Content of plans.--The plans described in 
 paragraph (A) shall--
 (i) provide students and their 
 families with information on--
 (I) the availability of the 
 College Scorecard or any 
 similar successor website;
 (II) the electronic estimates 
 of financial aid available 
 under subsection (b);
 (III) Federal financial aid 
 available to students, 
 including eligibility criteria 
 for the Federal financial aid 
 and an explanation of the 
 Federal financial aid programs 
 (including applicable Federal 
 educational tax credits); and
 (IV) resources that can 
 inform students of financial 
 aid that may be available from 
 state-based financial aid, 
 state-based college savings 
 programs, and scholarships and 
 other non-governmental sources;
 (ii) describe how the dissemination 
 of information will be conducted by the 
 Secretary.
 (C) Reporting and updates.--The Secretary 
 shall post the information about the plans 
 under subparagraph (A) and associated goals 
 publicly on the Department's website. On an 
 annual basis, the Secretary shall report 
 qualitative and quantitative outcomes regarding 
 the implementation of the plans under 
 subparagraph (A). The Secretary shall review 
 and update such plans not less often than every 
 4 award years with the goal of progressively 
 increasing the impact of the activities under 
 this paragraph.
 (D) Partnership.--The Secretary may partner 
 with States, State systems of higher education, 
 institutions of higher education, or college 
 access organizations to carry out this 
 paragraph.
 (2) Interagency coordination plans.--
 (A) In general.--The Secretary shall develop 
 interagency coordination plans in order to 
 inform more students and families, including 
 low-income individuals or families and 
 recipients of means-tested Federal benefits, 
 about the availability of Federal financial aid 
 under this title through participation in 
 existing Federal programs or tax benefits that 
 serve low-income individuals or families, in 
 coordination with the following Secretaries:
 (i) The Secretary of the Treasury.
 (ii) The Secretary of Labor.
 (iii) The Secretary of Health and 
 Human Services.
 (iv) The Secretary of Agriculture.
 (v) The Secretary of Housing and 
 Urban Development.
 (vi) The Secretary of Commerce.
 (vii) The Secretary of Veterans 
 Affairs.
 (viii) The Secretary of the Interior.
 (B) Process, activities, and goals.--Each 
 interagency coordination plan under 
 subparagraph (A) shall--
 (i) identify opportunities in which 
 low-income individuals and families 
 could be informed of the availability 
 of Federal financial aid under this 
 title through access to other Federal 
 programs that serve low-income 
 individuals and families;
 (ii) identify methods to effectively 
 inform low-income individuals and 
 families of the availability of Federal 
 financial aid for postsecondary 
 education under this title and assist 
 such individuals in completing the Free 
 Application for Federal Student Aid;
 (iii) develop early awareness and 
 FAFSA completion activities that align 
 with the opportunities and methods 
 identified under clauses (i) and (ii);
 (iv) establish goals regarding the 
 effects of the activities to be 
 implemented under clause (iii); and
 (v) provide information on how 
 students and families can maintain 
 access to Federal programs that serve 
 low-income individuals and families 
 operated by the agencies identified 
 under subsection (A) while attending an 
 institution of higher education.
 (C) Plan with secretary of the treasury.--The 
 interagency coordination plan under 
 subparagraph (A)(i) between the Secretary and 
 the Secretary of the Treasury shall further 
 include specific methods to increase the 
 application for Federal financial aid under 
 this title from individuals who file Federal 
 tax returns, including collaboration with tax 
 preparation entities or other third parties, as 
 appropriate.
 (D) Reporting and updates.--The Secretary 
 shall post the information about the 
 interagency coordination plans under this 
 paragraph and associated goals publicly on the 
 Department's website. The plans shall have the 
 goal of progressively increasing the impact of 
 the activities under this paragraph by 
 increasing the number of low-income applicants 
 for, and recipients of, Federal financial aid. 
 The plans shall be updated not less than once 
 every 4 years.
 (3) Nationwide participation in early awareness 
 plans.--
 (A) In general.--The Secretary shall solicit 
 voluntary public commitments from entities, 
 such as States, State systems of higher 
 education, institutions of higher education, 
 and other interested organizations, to carry 
 out early awareness plans, which shall include 
 goals, to--
 (i) notify prospective and existing 
 students who are low-income individuals 
 and families about their eligibility 
 for Federal aid under this title, as 
 well as State-based financial aid, if 
 applicable, on an annual basis;
 (ii) increase the number of 
 prospective and current students who 
 are low-income individuals and families 
 filing the Free Application for Federal 
 Student Aid; and
 (iii) increase the number of 
 prospective and current students who 
 are low-income individuals and families 
 enrolling in postsecondary education.
 (B) Reporting and updates.--Each entity that 
 makes a voluntary public commitment to carry 
 out an early awareness plan may submit 
 quantitative and qualitative data based on the 
 entity's progress toward the goals of the plan 
 annually prior to a date selected by the 
 Secretary.
 (C) Early awareness champions.--Based on data 
 submitted by entities, the Secretary shall 
 select and designate entities submitting public 
 commitments, plans, and goals, as Early 
 Awareness Champions on an annual basis. Those 
 entities designated as Early Awareness 
 Champions shall provide one or more case 
 studies regarding the activities the entity 
 undertook under this paragraph which shall be 
 made public by the Secretary on the Department 
 of Education website to promote best practices.
 (d) Public Awareness Campaign.--
 (1) In general.--The Secretary shall develop and 
 implement a public awareness campaign designed using 
 current and relevant independent research regarding 
 strategies and media platforms found to be most 
 effective in communicating with low-income populations 
 in order to increase national awareness regarding the 
 availability of Federal Pell Grants and financial aid 
 under this title and, at the option of the Secretary, 
 potential availability of state need-based financial 
 aid.
 (2) Coordination.--The public awareness campaign 
 described in paragraph (1) shall leverage the 
 activities in subsections (b) and (c) to highlight 
 eligibility among low-income populations. In developing 
 and implementing the campaign, the Secretary may work 
 in coordination with States, institutions of higher 
 education, early intervention and outreach programs 
 under this title, other Federal agencies, agencies 
 responsible for administering means-tested Federal 
 benefit programs (as defined in section 479(b)(4)(H)), 
 organizations involved in college access and student 
 financial aid, secondary schools, local educational 
 agencies, public libraries, community centers, 
 businesses, employers, workforce investment boards, and 
 organizations that provide services to individuals who 
 are or were homeless, in foster care, or are 
 disconnected youth.
 (3) Reporting.--The Secretary shall report on the 
 success of the public awareness campaign described in 
 paragraph (1) annually regarding the extent to which 
 the public and target populations were reached using 
 data commonly used to evaluate advertising and outreach 
 campaigns and data regarding whether the campaign 
 produced any increase in applicants for Federal aid 
 under this title publicly on the Department of 
 Education website.

 * * * * * * *

SEC. 487. PROGRAM PARTICIPATION AGREEMENTS.

 (a) Required for Programs of Assistance; Contents.--In order 
to be an eligible institution for the purposes of any program 
authorized under this title, an institution must be an 
institution of higher education or an eligible institution (as 
that term is defined for the purpose of that program) and 
shall, except with respect to a program under subpart 4 of part 
A, enter into a program participation agreement with the 
Secretary. The agreement shall condition the initial and 
continuing eligibility of an institution to participate in a 
program upon compliance with the following requirements:
 (1) The institution will use funds received by it for 
 any program under this title and any interest or other 
 earnings thereon solely for the purpose specified in 
 and in accordance with the provision of that program.
 (2) The institution shall not charge any student a 
 fee for processing or handling any application, form, 
 or data required to determine the student's eligibility 
 for assistance under this title or the amount of such 
 assistance.
 (3) The institution will establish and maintain such 
 administrative and fiscal procedures and records as may 
 be necessary to ensure proper and efficient 
 administration of funds received from the Secretary or 
 from students under this title, together with 
 assurances that the institution will provide, upon 
 request and in a timely fashion, information relating 
 to the administrative capability and financial 
 responsibility of the institution to--
 (A) the Secretary;
 (B) the appropriate guaranty agency; and
 (C) the appropriate accrediting agency or 
 association.
 (4) The institution will comply with the provisions 
 of subsection (c) of this section and the regulations 
 prescribed under that subsection, relating to fiscal 
 eligibility.
 (5) The institution will submit reports to the 
 Secretary and, in the case of an institution 
 participating in a program under part B or part E, to 
 holders of loans made to the institution's students 
 under such parts at such times and containing such 
 information as the Secretary may reasonably require to 
 carry out the purpose of this title.
 (6) The institution will not provide any student with 
 any statement or certification to any lender under part 
 B that qualifies the student for a loan or loans in 
 excess of the amount that student is eligible to borrow 
 in accordance with sections 425(a), 428(a)(2), and 
 428(b)(1) (A) and (B).
 (7) The institution will comply with the requirements 
 of section 485.
 (8) In the case of an institution that advertises job 
 placement rates as a means of attracting students to 
 enroll in the institution, the institution will make 
 available to prospective students, at or before the 
 time of application (A) the most recent available data 
 concerning employment statistics, graduation 
 statistics, and any other information necessary to 
 substantiate the truthfulness of the advertisements, 
 and (B) relevant State licensing requirements of the 
 State in which such institution is located for any job 
 for which the course of instruction is designed to 
 prepare such prospective students.
 (9) In the case of an institution participating in a 
 program under part B or D, the institution will inform 
 all eligible borrowers enrolled in the institution 
 about the availability and eligibility of such 
 borrowers for State grant assistance from the State in 
 which the institution is located, and will inform such 
 borrowers from another State of the source for further 
 information concerning such assistance from that State.
 (10) The institution certifies that it has in 
 operation a drug abuse prevention program that is 
 determined by the institution to be accessible to any 
 officer, employee, or student at the institution.
 (11) In the case of any institution whose students 
 receive financial assistance pursuant to section 
 484(d), the institution will make available to such 
 students a program proven successful in assisting 
 students in obtaining a certificate of high school 
 equivalency.
 (12) The institution certifies that--
 (A) the institution has established a campus 
 security policy; and
 (B) the institution has complied with the 
 disclosure requirements of section 485(f).
 (13) The institution will not deny any form of 
 Federal financial aid to any student who meets the 
 eligibility requirements of this title on the grounds 
 that the student is participating in a program of study 
 abroad approved for credit by the institution.
 (14)(A) The institution, in order to participate as 
 an eligible institution under part B or D, will develop 
 a Default Management Plan for approval by the Secretary 
 as part of its initial application for certification as 
 an eligible institution and will implement such Plan 
 for two years thereafter.
 (B) Any institution of higher education which changes 
 ownership and any eligible institution which changes 
 its status as a parent or subordinate institution 
 shall, in order to participate as an eligible 
 institution under part B or D, develop a Default 
 Management Plan for approval by the Secretary and 
 implement such Plan for two years after its change of 
 ownership or status.
 (C) This paragraph shall not apply in the case of an 
 institution in which (i) neither the parent nor the 
 subordinate institution has a cohort default rate in 
 excess of 10 percent, and (ii) the new owner of such 
 parent or subordinate institution does not, and has 
 not, owned any other institution with a cohort default 
 rate in excess of 10 percent.
 (15) The institution acknowledges the authority of 
 the Secretary, guaranty agencies, lenders, accrediting 
 agencies, the Secretary of Veterans Affairs, and the 
 State agencies under subpart 1 of part H to share with 
 each other any information pertaining to the 
 institution's eligibility to participate in programs 
 under this title or any information on fraud and abuse.
 (16)(A) The institution will not knowingly employ an 
 individual in a capacity that involves the 
 administration of programs under this title, or the 
 receipt of program funds under this title, who has been 
 convicted of, or has pled nolo contendere or guilty to, 
 a crime involving the acquisition, use, or expenditure 
 of funds under this title, or has been judicially 
 determined to have committed fraud involving funds 
 under this title or contract with an institution or 
 third party servicer that has been terminated under 
 section 432 involving the acquisition, use, or 
 expenditure of funds under this title, or who has been 
 judicially determined to have committed fraud involving 
 funds under this title.
 (B) The institution will not knowingly contract with 
 or employ any individual, agency, or organization that 
 has been, or whose officers or employees have been--
 (i) convicted of, or pled nolo contendere or 
 guilty to, a crime involving the acquisition, 
 use, or expenditure of funds under this title; 
 or
 (ii) judicially determined to have committed 
 fraud involving funds under this title.
 (17) The institution will complete surveys conducted 
 as a part of the Integrated Postsecondary Education 
 Data System (IPEDS) or any other Federal postsecondary 
 institution data collection effort, as designated by 
 the Secretary, in a timely manner and to the 
 satisfaction of the Secretary.
 (18) The institution will meet the requirements 
 established pursuant to section 485(g).
 (19) The institution will not impose any penalty, 
 including the assessment of late fees, the denial of 
 access to classes, libraries, or other institutional 
 facilities, or the requirement that the student borrow 
 additional funds, on any student because of the 
 student's inability to meet his or her financial 
 obligations to the institution as a result of the 
 delayed disbursement of the proceeds of a loan made 
 under this title due to compliance with the provisions 
 of this title, or delays attributable to the 
 institution.
 (20) The institution will not provide any commission, 
 bonus, or other incentive payment based directly or 
 indirectly on success in securing enrollments or 
 financial aid to any persons or entities engaged in any 
 student recruiting or admission activities or in making 
 decisions regarding the award of student financial 
 assistance, except that this paragraph shall not apply 
 to the recruitment of foreign students residing in 
 foreign countries who are not eligible to receive 
 Federal student assistance.
 (21) The institution will meet the requirements 
 established by the Secretary and accrediting agencies 
 or associations, and will provide evidence to the 
 Secretary that the institution has the authority to 
 operate within a State.
 (22) The institution will comply with the refund 
 policy established pursuant to section 484B.
 (23)(A) The institution, if located in a State to 
 which section 4(b) of the National Voter Registration 
 Act of 1993 (42 U.S.C. 1973gg-2(b)) does not apply, 
 will make a good faith effort to distribute a mail 
 voter registration form, requested and received from 
 the State, to each student enrolled in a degree or 
 certificate program and physically in attendance at the 
 institution, and to make such forms widely available to 
 students at the institution.
 (B) The institution shall request the forms from the 
 State 120 days prior to the deadline for registering to 
 vote within the State. If an institution has not 
 received a sufficient quantity of forms to fulfill this 
 section from the State within 60 days prior to the 
 deadline for registering to vote in the State, the 
 institution shall not be held liable for not meeting 
 the requirements of this section during that election 
 year.
 (C) This paragraph shall apply to general and special 
 elections for Federal office, as defined in section 
 301(3) of the Federal Election Campaign Act of 1971 (2 
 U.S.C. 431(3)), and to the elections for Governor or 
 other chief executive within such State).
 (D) The institution shall be considered in 
 compliance with the requirements of 
 subparagraph (A) for each student to whom the 
 institution electronically transmits a message 
 containing a voter registration form acceptable 
 for use in the State in which the institution 
 is located, or an Internet address where such a 
 form can be downloaded, if such information is 
 in an electronic message devoted exclusively to 
 voter registration.
 (24) In the case of a proprietary institution of 
 higher education (as defined in section 102(b)), such 
 institution will derive not less than ten percent of 
 such institution's revenues from sources other than 
 Federal funds that are disbursed or delivered to or on 
 behalf of a student to be used to attend such 
 institution (referred to in this paragraph and 
 subsection (d) as ``Federal education assistance 
 funds''), as calculated in accordance with subsection 
 (d)(1), or will be subject to the sanctions described 
 in subsection (d)(2).
 (25) In the case of an institution that participates 
 in a loan program under this title, the institution 
 will--
 (A) develop a code of conduct with respect to 
 such loans with which the institution's 
 officers, employees, and agents shall comply, 
 that--
 (i) prohibits a conflict of interest 
 with the responsibilities of an 
 officer, employee, or agent of an 
 institution with respect to such loans; 
 and
 (ii) at a minimum, includes the 
 provisions described in subsection (e);
 (B) publish such code of conduct prominently 
 on the institution's website; and
 (C) administer and enforce such code by, at a 
 minimum, requiring that all of the 
 institution's officers, employees, and agents 
 with responsibilities with respect to such 
 loans be annually informed of the provisions of 
 the code of conduct.
 (26) The institution will, upon written request, 
 disclose to the alleged victim of any crime of violence 
 (as that term is defined in section 16 of title 18, 
 United States Code), or a nonforcible sex offense, the 
 report on the results of any disciplinary proceeding 
 conducted by such institution against a student who is 
 the alleged perpetrator of such crime or offense with 
 respect to such crime or offense. If the alleged victim 
 of such crime or offense is deceased as a result of 
 such crime or offense, the next of kin of such victim 
 shall be treated as the alleged victim for purposes of 
 this paragraph.
 (27) In the case of an institution that has entered 
 into a preferred lender arrangement, the institution 
 will at least annually compile, maintain, and make 
 available for students attending the institution, and 
 the families of such students, a list, in print or 
 other medium, of the specific lenders for loans made, 
 insured, or guaranteed under this title or private 
 education loans that the institution recommends, 
 promotes, or endorses in accordance with such preferred 
 lender arrangement. In making such list, the 
 institution shall comply with the requirements of 
 subsection (h).
 (28)(A) The institution will, upon the request of an 
 applicant for a private education loan, provide to the 
 applicant the form required under section 128(e)(3) of 
 the Truth in Lending Act (15 U.S.C. 1638(e)(3)), and 
 the information required to complete such form, to the 
 extent the institution possesses such information.
 (B) For purposes of this paragraph, the term 
 ``private education loan'' has the meaning given such 
 term in section 140 of the Truth in Lending Act.
 (29) The institution certifies that the institution--
 (A) has developed plans to effectively combat 
 the unauthorized distribution of copyrighted 
 material, including through the use of a 
 variety of technology-based deterrents; and
 (B) will, to the extent practicable, offer 
 alternatives to illegal downloading or peer-to-
 peer distribution of intellectual property, as 
 determined by the institution in consultation 
 with the chief technology officer or other 
 designated officer of the institution.
 (b) Hearings.--(1) An institution that has received written 
notice of a final audit or program review determination and 
that desires to have such determination reviewed by the 
Secretary shall submit to the Secretary a written request for 
review not later than 45 days after receipt of notification of 
the final audit or program review determination.
 (2) The Secretary shall, upon receipt of written notice under 
paragraph (1), arrange for a hearing and notify the institution 
within 30 days of receipt of such notice the date, time, and 
place of such hearing. Such hearing shall take place not later 
than 120 days from the date upon which the Secretary notifies 
the institution.
 (c) Audits; Financial Responsibility; Enforcement of 
Standards.--(1) Notwithstanding any other provisions of this 
title, the Secretary shall prescribe such regulations as may be 
necessary to provide for--
 (A)(i) except as provided in clauses (ii) and (iii), 
 a financial audit of an eligible institution with 
 regard to the financial condition of the institution in 
 its entirety, and a compliance audit of such 
 institution with regard to any funds obtained by it 
 under this title or obtained from a student or a parent 
 who has a loan insured or guaranteed by the Secretary 
 under this title, on at least an annual basis and 
 covering the period since the most recent audit, 
 conducted by a qualified, independent organization or 
 person in accordance with standards established by the 
 Comptroller General for the audit of governmental 
 organizations, programs, and functions, and as 
 prescribed in regulations of the Secretary, the results 
 of which shall be submitted to the Secretary and shall 
 be available to cognizant guaranty agencies, eligible 
 lenders, State agencies, and the appropriate State 
 agency notifying the Secretary under subpart 1 of part 
 H, except that the Secretary may modify the 
 requirements of this clause with respect to 
 institutions of higher education that are foreign 
 institutions, and may waive such requirements with 
 respect to a foreign institution whose students receive 
 less than $500,000 in loans under this title during the 
 award year preceding the audit period;
 (ii) with regard to an eligible institution which is 
 audited under chapter 75 of title 31, United States 
 Code, deeming such audit to satisfy the requirements of 
 clause (i) for the period covered by such audit; or
 (iii) at the discretion of the Secretary, with regard 
 to an eligible institution (other than an eligible 
 institution described in section 102(a)(1)(C)) that has 
 obtained less than $200,000 in funds under this title 
 during each of the 2 award years that precede the audit 
 period and submits a letter of credit payable to the 
 Secretary equal to not less than \1/2\ of the annual 
 potential liabilities of such institution as determined 
 by the Secretary, deeming an audit conducted every 3 
 years to satisfy the requirements of clause (i), except 
 for the award year immediately preceding renewal of the 
 institution's eligibility under section 498(g);
 (B) in matters not governed by specific program 
 provisions, the establishment of reasonable standards 
 of financial responsibility and appropriate 
 institutional capability for the administration by an 
 eligible institution of a program of student financial 
 aid under this title, including any matter the 
 Secretary deems necessary to the sound administration 
 of the financial aid programs, such as the pertinent 
 actions of any owner, shareholder, or person exercising 
 control over an eligible institution;
 (C)(i) except as provided in clause (ii), a 
 compliance audit of a third party servicer (other than 
 with respect to the servicer's functions as a lender if 
 such functions are otherwise audited under this part 
 and such audits meet the requirements of this clause), 
 with regard to any contract with an eligible 
 institution, guaranty agency, or lender for 
 administering or servicing any aspect of the student 
 assistance programs under this title, at least once 
 every year and covering the period since the most 
 recent audit, conducted by a qualified, independent 
 organization or person in accordance with standards 
 established by the Comptroller General for the audit of 
 governmental organizations, programs, and functions, 
 and as prescribed in regulations of the Secretary, the 
 results of which shall be submitted to the Secretary; 
 or
 (ii) with regard to a third party servicer that is 
 audited under chapter 75 of title 31, United States 
 Code, such audit shall be deemed to satisfy the 
 requirements of clause (i) for the period covered by 
 such audit;
 (D)(i) a compliance audit of a secondary market with 
 regard to its transactions involving, and its servicing 
 and collection of, loans made under this title, at 
 least once a year and covering the period since the 
 most recent audit, conducted by a qualified, 
 independent organization or person in accordance with 
 standards established by the Comptroller General for 
 the audit of governmental organizations, programs, and 
 functions, and as prescribed in regulations of the 
 Secretary, the results of which shall be submitted to 
 the Secretary; or
 (ii) with regard to a secondary market that is 
 audited under chapter 75 of title 31, United States 
 Code, such audit shall be deemed to satisfy the 
 requirements of clause (i) for the period covered by 
 the audit;
 (E) the establishment, by each eligible institution 
 under part B responsible for furnishing to the lender 
 the statement required by section 428(a)(2)(A)(i), of 
 policies and procedures by which the latest known 
 address and enrollment status of any student who has 
 had a loan insured under this part and who has either 
 formally terminated his enrollment, or failed to re-
 enroll on at least a half-time basis, at such 
 institution, shall be furnished either to the holder 
 (or if unknown, the insurer) of the note, not later 
 than 60 days after such termination or failure to re-
 enroll;
 (F) the limitation, suspension, or termination of the 
 participation in any program under this title of an 
 eligible institution, or the imposition of a civil 
 penalty under paragraph (3)(B) whenever the Secretary 
 has determined, after reasonable notice and opportunity 
 for hearing, that such institution has violated or 
 failed to carry out any provision of this title, any 
 regulation prescribed under this title, or any 
 applicable special arrangement, agreement, or 
 limitation, except that no period of suspension under 
 this section shall exceed 60 days unless the 
 institution and the Secretary agree to an extension or 
 unless limitation or termination proceedings are 
 initiated by the Secretary within that period of time;
 (G) an emergency action against an institution, under 
 which the Secretary shall, effective on the date on 
 which a notice and statement of the basis of the action 
 is mailed to the institution (by registered mail, 
 return receipt requested), withhold funds from the 
 institution or its students and withdraw the 
 institution's authority to obligate funds under any 
 program under this title, if the Secretary--
 (i) receives information, determined by the 
 Secretary to be reliable, that the institution 
 is violating any provision of this title, any 
 regulation prescribed under this title, or any 
 applicable special arrangement, agreement, or 
 limitation,
 (ii) determines that immediate action is 
 necessary to prevent misuse of Federal funds, 
 and
 (iii) determines that the likelihood of loss 
 outweighs the importance of the procedures 
 prescribed under subparagraph (D) for 
 limitation, suspension, or termination,
 except that an emergency action shall not exceed 30 
 days unless limitation, suspension, or termination 
 proceedings are initiated by the Secretary against the 
 institution within that period of time, and except that 
 the Secretary shall provide the institution an 
 opportunity to show cause, if it so requests, that the 
 emergency action is unwarranted;
 (H) the limitation, suspension, or termination of the 
 eligibility of a third party servicer to contract with 
 any institution to administer any aspect of an 
 institution's student assistance program under this 
 title, or the imposition of a civil penalty under 
 paragraph (3)(B), whenever the Secretary has 
 determined, after reasonable notice and opportunity for 
 a hearing, that such organization, acting on behalf of 
 an institution, has violated or failed to carry out any 
 provision of this title, any regulation prescribed 
 under this title, or any applicable special 
 arrangement, agreement, or limitation, except that no 
 period of suspension under this subparagraph shall 
 exceed 60 days unless the organization and the 
 Secretary agree to an extension, or unless limitation 
 or termination proceedings are initiated by the 
 Secretary against the individual or organization within 
 that period of time; and
 (I) an emergency action against a third party 
 servicer that has contracted with an institution to 
 administer any aspect of the institution's student 
 assistance program under this title, under which the 
 Secretary shall, effective on the date on which a 
 notice and statement of the basis of the action is 
 mailed to such individual or organization (by 
 registered mail, return receipt requested), withhold 
 funds from the individual or organization and withdraw 
 the individual or organization's authority to act on 
 behalf of an institution under any program under this 
 title, if the Secretary--
 (i) receives information, determined by the 
 Secretary to be reliable, that the individual 
 or organization, acting on behalf of an 
 institution, is violating any provision of this 
 title, any regulation prescribed under this 
 title, or any applicable special arrangement, 
 agreement, or limitation,
 (ii) determines that immediate action is 
 necessary to prevent misuse of Federal funds, 
 and
 (iii) determines that the likelihood of loss 
 outweighs the importance of the procedures 
 prescribed under subparagraph (F), for 
 limitation, suspension, or termination,
 except that an emergency action shall not exceed 30 
 days unless the limitation, suspension, or termination 
 proceedings are initiated by the Secretary against the 
 individual or organization within that period of time, 
 and except that the Secretary shall provide the 
 individual or organization an opportunity to show 
 cause, if it so requests, that the emergency action is 
 unwarranted.
 (2) If an individual who, or entity that, exercises 
substantial control, as determined by the Secretary in 
accordance with the definition of substantial control in 
subpart 3 of part H, over one or more institutions 
participating in any program under this title, or, for purposes 
of paragraphs (1) (H) and (I), over one or more organizations 
that contract with an institution to administer any aspect of 
the institution's student assistance program under this title, 
is determined to have committed one or more violations of the 
requirements of any program under this title, or has been 
suspended or debarred in accordance with the regulations of the 
Secretary, the Secretary may use such determination, 
suspension, or debarment as the basis for imposing an emergency 
action on, or limiting, suspending, or terminating, in a single 
proceeding, the participation of any or all institutions under 
the substantial control of that individual or entity.
 (3)(A) Upon determination, after reasonable notice and 
opportunity for a hearing, that an eligible institution has 
engaged in substantial misrepresentation of the nature of its 
educational program, its financial charges, or the 
employability of its graduates, the Secretary may suspend or 
terminate the eligibility status for any or all programs under 
this title of any otherwise eligible institution, in accordance 
with procedures specified in paragraph (1)(D) of this 
subsection, until the Secretary finds that such practices have 
been corrected.
 (B)(i) Upon determination, after reasonable notice and 
opportunity for a hearing, that an eligible institution--
 (I) has violated or failed to carry out any provision 
 of this title or any regulation prescribed under this 
 title; or
 (II) has engaged in substantial misrepresentation of 
 the nature of its educational program, its financial 
 charges, and the employability of its graduates,
the Secretary may impose a civil penalty upon such institution 
of not to exceed $25,000 for each violation or 
misrepresentation.
 (ii) Any civil penalty may be compromised by the Secretary. 
In determining the amount of such penalty, or the amount agreed 
upon in compromise, the appropriateness of the penalty to the 
size of the institution of higher education subject to the 
determination, and the gravity of the violation, failure, or 
misrepresentation shall be considered. The amount of such 
penalty, when finally determined, or the amount agreed upon in 
compromise, may be deducted from any sums owing by the United 
States to the institution charged.
 (4) The Secretary shall publish a list of State agencies 
which the Secretary determines to be reliable authority as to 
the quality of public postsecondary vocational education in 
their respective States for the purpose of determining 
eligibility for all Federal student assistance programs.
 (5) The Secretary shall make readily available to appropriate 
guaranty agencies, eligible lenders, State agencies notifying 
the Secretary under subpart 1 of part H, and accrediting 
agencies or associations the results of the audits of eligible 
institutions conducted pursuant to paragraph (1)(A).
 (6) The Secretary is authorized to provide any information 
collected as a result of audits conducted under this section, 
together with audit information collected by guaranty agencies, 
to any Federal or State agency having responsibilities with 
respect to student financial assistance, including those 
referred to in subsection (a)(15) of this section.
 (7) Effective with respect to any audit conducted under this 
subsection after December 31, 1988, if, in the course of 
conducting any such audit, the personnel of the Department of 
Education discover, or are informed of, grants or other 
assistance provided by an institution in accordance with this 
title for which the institution has not received funds 
appropriated under this title (in the amount necessary to 
provide such assistance), including funds for which 
reimbursement was not requested prior to such discovery or 
information, such institution shall be permitted to offset that 
amount against any sums determined to be owed by the 
institution pursuant to such audit, or to receive reimbursement 
for that amount (if the institution does not owe any such 
sums).
 (d) Implementation of Non-Federal Revenue Requirement.--
 (1) Calculation.--In making calculations under 
 subsection (a)(24), a proprietary institution of higher 
 education shall--
 (A) use the cash basis of accounting, except 
 in the case of loans described in subparagraph 
 (D)(i) that are made by the proprietary 
 institution of higher education;
 (B) consider as revenue only those funds 
 generated by the institution from--
 (i) tuition, fees, and other 
 institutional charges for students 
 enrolled in programs eligible for 
 assistance under this title;
 (ii) activities conducted by the 
 institution that are necessary for the 
 education and training of the 
 institution's students, if such 
 activities are--
 (I) conducted on campus or at 
 a facility under the control of 
 the institution;
 (II) performed under the 
 supervision of a member of the 
 institution's faculty; and
 (III) required to be 
 performed by all students in a 
 specific educational program at 
 the institution; and
 (iii) funds paid by a student, or on 
 behalf of a student by a party other 
 than the institution, for an education 
 or training program that is not 
 eligible for funds under this title, if 
 the program--
 (I) is approved or licensed 
 by the appropriate State 
 agency;
 (II) is accredited by an 
 accrediting agency recognized 
 by the Secretary; or
 (III) provides an industry-
 recognized credential or 
 certification;
 (C) presume that any Federal education 
 assistance funds that are disbursed or 
 delivered to or on behalf of a student will be 
 used to pay the student's tuition, fees, or 
 other institutional charges, regardless of 
 whether the institution credits those funds to 
 the student's account or pays those funds 
 directly to the student, except to the extent 
 that the student's tuition, fees, or other 
 institutional charges are satisfied by--
 (i) grant funds provided by non-
 Federal public agencies or private 
 sources independent of the institution;
 (ii) funds provided under a 
 contractual arrangement with a Federal, 
 State, or local government agency for 
 the purpose of providing job training 
 to low-income individuals who are in 
 need of that training;
 (iii) funds used by a student from 
 savings plans for educational expenses 
 established by or on behalf of the 
 student and which qualify for special 
 tax treatment under the Internal 
 Revenue Code of 1986; or
 (iv) institutional scholarships 
 described in subparagraph (D)(iii);
 (D) include institutional aid as revenue to 
 the school only as follows:
 (i) in the case of loans made by a 
 proprietary institution of higher 
 education on or after July 1, 2008 and 
 prior to July 1, 2012, the net present 
 value of such loans made by the 
 institution during the applicable 
 institutional fiscal year accounted for 
 on an accrual basis and estimated in 
 accordance with generally accepted 
 accounting principles and related 
 standards and guidance, if the loans--
 (I) are bona fide as 
 evidenced by enforceable 
 promissory notes;
 (II) are issued at intervals 
 related to the institution's 
 enrollment periods; and
 (III) are subject to regular 
 loan repayments and 
 collections;
 (ii) in the case of loans made by a 
 proprietary institution of higher 
 education on or after July 1, 2012, 
 only the amount of loan repayments 
 received during the applicable 
 institutional fiscal year, excluding 
 repayments on loans made and accounted 
 for as specified in clause (i); and
 (iii) in the case of scholarships 
 provided by a proprietary institution 
 of higher education, only those 
 scholarships provided by the 
 institution in the form of monetary aid 
 or tuition discounts based upon the 
 academic achievements or financial need 
 of students, disbursed during each 
 fiscal year from an established 
 restricted account, and only to the 
 extent that funds in that account 
 represent designated funds from an 
 outside source or from income earned on 
 those funds;
 (E) in the case of each student who receives 
 a loan on or after July 1, 2008, and prior to 
 July 1, 2011, that is authorized under section 
 428H or that is a Federal Direct Unsubsidized 
 Stafford Loan, treat as revenue received by the 
 institution from sources other than funds 
 received under this title, the amount by which 
 the disbursement of such loan received by the 
 institution exceeds the limit on such loan in 
 effect on the day before the date of enactment 
 of the Ensuring Continued Access to Student 
 Loans Act of 2008; and
 (F) exclude from revenues--
 (i) the amount of funds the 
 institution received under part C, 
 unless the institution used those funds 
 to pay a student's institutional 
 charges;
 (ii) the amount of funds the 
 institution received under subpart 4 of 
 part A;
 (iii) the amount of funds provided by 
 the institution as matching funds for a 
 program under this title;
 (iv) the amount of funds provided by 
 the institution for a program under 
 this title that are required to be 
 refunded or returned; and
 (v) the amount charged for books, 
 supplies, and equipment, unless the 
 institution includes that amount as 
 tuition, fees, or other institutional 
 charges.
 (2) Sanctions.--
 (A) Ineligibility.--A proprietary institution 
 of higher education that fails to meet a 
 requirement of subsection (a)(24) for two 
 consecutive institutional fiscal years shall be 
 ineligible to participate in the programs 
 authorized by this title for a period of not 
 less than two institutional fiscal years. To 
 regain eligibility to participate in the 
 programs authorized by this title, a 
 proprietary institution of higher education 
 shall demonstrate compliance with all 
 eligibility and certification requirements 
 under section 498 for a minimum of two 
 institutional fiscal years after the 
 institutional fiscal year in which the 
 institution became ineligible.
 (B) Additional enforcement.--In addition to 
 such other means of enforcing the requirements 
 of this title as may be available to the 
 Secretary, if a proprietary institution of 
 higher education fails to meet a requirement of 
 subsection (a)(24) for any institutional fiscal 
 year, then the institution's eligibility to 
 participate in the programs authorized by this 
 title becomes provisional for the two 
 institutional fiscal years after the 
 institutional fiscal year in which the 
 institution failed to meet the requirement of 
 subsection (a)(24), except that such 
 provisional eligibility shall terminate--
 (i) on the expiration date of the 
 institution's program participation 
 agreement under this subsection that is 
 in effect on the date the Secretary 
 determines that the institution failed 
 to meet the requirement of subsection 
 (a)(24); or
 (ii) in the case that the Secretary 
 determines that the institution failed 
 to meet a requirement of subsection 
 (a)(24) for two consecutive 
 institutional fiscal years, on the date 
 the institution is determined 
 ineligible in accordance with 
 subparagraph (A).
 (3) Publication on [college navigator] college 
 scorecard website.--The Secretary shall publicly 
 disclose on the [College Navigator] College Scorecard 
 website--
 (A) the identity of any proprietary 
 institution of higher education that fails to 
 meet a requirement of subsection (a)(24); and
 (B) the extent to which the institution 
 failed to meet such requirement.
 (4) Report to congress.--Not later than July 1, 2009, 
 and July 1 of each succeeding year, the Secretary shall 
 submit to the authorizing committees a report that 
 contains, for each proprietary institution of higher 
 education that receives assistance under this title, as 
 provided in the audited financial statements submitted 
 to the Secretary by each institution pursuant to the 
 requirements of subsection (a)(24)--
 (A) the amount and percentage of such 
 institution's revenues received from sources 
 under this title; and
 (B) the amount and percentage of such 
 institution's revenues received from other 
 sources.
 (e) Code of Conduct Requirements.--An institution of higher 
education's code of conduct, as required under subsection 
(a)(25), shall include the following requirements:
 (1) Ban on revenue-sharing arrangements.--
 (A) Prohibition.--The institution shall not 
 enter into any revenue-sharing arrangement with 
 any lender.
 (B) Definition.--For purposes of this 
 paragraph, the term ``revenue-sharing 
 arrangement'' means an arrangement between an 
 institution and a lender under which--
 (i) a lender provides or issues a 
 loan that is made, insured, or 
 guaranteed under this title to students 
 attending the institution or to the 
 families of such students; and
 (ii) the institution recommends the 
 lender or the loan products of the 
 lender and in exchange, the lender pays 
 a fee or provides other material 
 benefits, including revenue or profit 
 sharing, to the institution, an officer 
 or employee of the institution, or an 
 agent.
 (2) Gift ban.--
 (A) Prohibition.--No officer or employee of 
 the institution who is employed in the 
 financial aid office of the institution or who 
 otherwise has responsibilities with respect to 
 education loans, or agent who has 
 responsibilities with respect to education 
 loans, shall solicit or accept any gift from a 
 lender, guarantor, or servicer of education 
 loans.
 (B) Definition of gift.--
 (i) In general.--In this paragraph, 
 the term ``gift'' means any gratuity, 
 favor, discount, entertainment, 
 hospitality, loan, or other item having 
 a monetary value of more than a de 
 minimus amount. The term includes a 
 gift of services, transportation, 
 lodging, or meals, whether provided in 
 kind, by purchase of a ticket, payment 
 in advance, or reimbursement after the 
 expense has been incurred.
 (ii) Exceptions.--The term ``gift'' 
 shall not include any of the following:
 (I) Standard material, 
 activities, or programs on 
 issues related to a loan, 
 default aversion, default 
 prevention, or financial 
 literacy, such as a brochure, a 
 workshop, or training.
 (II) Food, refreshments, 
 training, or informational 
 material furnished to an 
 officer or employee of an 
 institution, or to an agent, as 
 an integral part of a training 
 session that is designed to 
 improve the service of a 
 lender, guarantor, or servicer 
 of education loans to the 
 institution, if such training 
 contributes to the professional 
 development of the officer, 
 employee, or agent.
 (III) Favorable terms, 
 conditions, and borrower 
 benefits on an education loan 
 provided to a student employed 
 by the institution if such 
 terms, conditions, or benefits 
 are comparable to those 
 provided to all students of the 
 institution.
 (IV) Entrance and exit 
 counseling services provided to 
 borrowers to meet the 
 institution's responsibilities 
 for entrance and exit 
 counseling as required by 
 subsections (b) and (l) of 
 section 485, as long as--
 (aa) the 
 institution's staff are 
 in control of the 
 counseling, (whether in 
 person or via 
 electronic 
 capabilities); and
 (bb) such counseling 
 does not promote the 
 products or services of 
 any specific lender.
 (V) Philanthropic 
 contributions to an institution 
 from a lender, servicer, or 
 guarantor of education loans 
 that are unrelated to education 
 loans or any contribution from 
 any lender, guarantor, or 
 servicer that is not made in 
 exchange for any advantage 
 related to education loans.
 (VI) State education grants, 
 scholarships, or financial aid 
 funds administered by or on 
 behalf of a State.
 (iii) Rule for gifts to family 
 members.--For purposes of this 
 paragraph, a gift to a family member of 
 an officer or employee of an 
 institution, to a family member of an 
 agent, or to any other individual based 
 on that individual's relationship with 
 the officer, employee, or agent, shall 
 be considered a gift to the officer, 
 employee, or agent if--
 (I) the gift is given with 
 the knowledge and acquiescence 
 of the officer, employee, or 
 agent; and
 (II) the officer, employee, 
 or agent has reason to believe 
 the gift was given because of 
 the official position of the 
 officer, employee, or agent.
 (3) Contracting arrangements prohibited.--
 (A) Prohibition.--An officer or employee who 
 is employed in the financial aid office of the 
 institution or who otherwise has 
 responsibilities with respect to education 
 loans, or an agent who has responsibilities 
 with respect to education loans, shall not 
 accept from any lender or affiliate of any 
 lender any fee, payment, or other financial 
 benefit (including the opportunity to purchase 
 stock) as compensation for any type of 
 consulting arrangement or other contract to 
 provide services to a lender or on behalf of a 
 lender relating to education loans.
 (B) Exceptions.--Nothing in this subsection 
 shall be construed as prohibiting--
 (i) an officer or employee of an 
 institution who is not employed in the 
 institution's financial aid office and 
 who does not otherwise have 
 responsibilities with respect to 
 education loans, or an agent who does 
 not have responsibilities with respect 
 to education loans, from performing 
 paid or unpaid service on a board of 
 directors of a lender, guarantor, or 
 servicer of education loans;
 (ii) an officer or employee of the 
 institution who is not employed in the 
 institution's financial aid office but 
 who has responsibility with respect to 
 education loans as a result of a 
 position held at the institution, or an 
 agent who has responsibility with 
 respect to education loans, from 
 performing paid or unpaid service on a 
 board of directors of a lender, 
 guarantor, or servicer of education 
 loans, if the institution has a written 
 conflict of interest policy that 
 clearly sets forth that officers, 
 employees, or agents must recuse 
 themselves from participating in any 
 decision of the board regarding 
 education loans at the institution; or
 (iii) an officer, employee, or 
 contractor of a lender, guarantor, or 
 servicer of education loans from 
 serving on a board of directors, or 
 serving as a trustee, of an 
 institution, if the institution has a 
 written conflict of interest policy 
 that the board member or trustee must 
 recuse themselves from any decision 
 regarding education loans at the 
 institution.
 (4) Interaction with borrowers.--The institution 
 shall not--
 (A) for any first-time borrower, assign, 
 through award packaging or other methods, the 
 borrower's loan to a particular lender; or
 (B) refuse to certify, or delay certification 
 of, any loan based on the borrower's selection 
 of a particular lender or guaranty agency.
 (5) Prohibition on offers of funds for private 
 loans.--
 (A) Prohibition.--The institution shall not 
 request or accept from any lender any offer of 
 funds to be used for private education loans 
 (as defined in section 140 of the Truth in 
 Lending Act), including funds for an 
 opportunity pool loan, to students in exchange 
 for the institution providing concessions or 
 promises regarding providing the lender with--
 (i) a specified number of loans made, 
 insured, or guaranteed under this 
 title;
 (ii) a specified loan volume of such 
 loans; or
 (iii) a preferred lender arrangement 
 for such loans.
 (B) Definition of opportunity pool loan.--In 
 this paragraph, the term ``opportunity pool 
 loan'' means a private education loan made by a 
 lender to a student attending the institution 
 or the family member of such a student that 
 involves a payment, directly or indirectly, by 
 such institution of points, premiums, 
 additional interest, or financial support to 
 such lender for the purpose of such lender 
 extending credit to the student or the family.
 (6) Ban on staffing assistance.--
 (A) Prohibition.--The institution shall not 
 request or accept from any lender any 
 assistance with call center staffing or 
 financial aid office staffing.
 (B) Certain assistance permitted.--Nothing in 
 paragraph (1) shall be construed to prohibit 
 the institution from requesting or accepting 
 assistance from a lender related to--
 (i) professional development training 
 for financial aid administrators;
 (ii) providing educational counseling 
 materials, financial literacy 
 materials, or debt management materials 
 to borrowers, provided that such 
 materials disclose to borrowers the 
 identification of any lender that 
 assisted in preparing or providing such 
 materials; or
 (iii) staffing services on a short-
 term, nonrecurring basis to assist the 
 institution with financial aid-related 
 functions during emergencies, including 
 State-declared or federally declared 
 natural disasters, federally declared 
 national disasters, and other localized 
 disasters and emergencies identified by 
 the Secretary.
 (7) Advisory board compensation.--Any employee who is 
 employed in the financial aid office of the 
 institution, or who otherwise has responsibilities with 
 respect to education loans or other student financial 
 aid of the institution, and who serves on an advisory 
 board, commission, or group established by a lender, 
 guarantor, or group of lenders or guarantors, shall be 
 prohibited from receiving anything of value from the 
 lender, guarantor, or group of lenders or guarantors, 
 except that the employee may be reimbursed for 
 reasonable expenses incurred in serving on such 
 advisory board, commission, or group.
 (f) Institutional Requirements for Teach-Outs.--
 (1) In general.--In the event the Secretary initiates 
 the limitation, suspension, or termination of the 
 participation of an institution of higher education in 
 any program under this title under the authority of 
 subsection (c)(1)(F) or initiates an emergency action 
 under the authority of subsection (c)(1)(G) and its 
 prescribed regulations, the Secretary shall require 
 that institution to prepare a teach-out plan for 
 submission to the institution's accrediting agency or 
 association in compliance with section 496(c)(3), the 
 Secretary's regulations on teach-out plans, and the 
 standards of the institution's accrediting agency or 
 association.
 (2) Teach-out plan defined.--In this subsection, the 
 term ``teach-out plan'' means a written plan that 
 provides for the equitable treatment of students if an 
 institution of higher education ceases to operate 
 before all students have completed their program of 
 study, and may include, if required by the 
 institution's accrediting agency or association, an 
 agreement between institutions for such a teach-out 
 plan.
 (g) Inspector General Report on Gift Ban Violations.--The 
Inspector General of the Department shall--
 (1) submit an annual report to the authorizing 
 committees identifying all violations of an 
 institution's code of conduct that the Inspector 
 General has substantiated during the preceding year 
 relating to the gift ban provisions described in 
 subsection (e)(2); and
 (2) make the report available to the public through 
 the Department's website.
 (h) Preferred Lender List Requirements.--
 (1) In general.--In compiling, maintaining, and 
 making available a preferred lender list as required 
 under subsection (a)(27), the institution will--
 (A) clearly and fully disclose on such 
 preferred lender list--
 (i) not less than the information 
 required to be disclosed under section 
 153(a)(2)(A);
 (ii) why the institution has entered 
 into a preferred lender arrangement 
 with each lender on the preferred 
 lender list, particularly with respect 
 to terms and conditions or provisions 
 favorable to the borrower; and
 (iii) that the students attending the 
 institution, or the families of such 
 students, do not have to borrow from a 
 lender on the preferred lender list;
 (B) ensure, through the use of the list of 
 lender affiliates provided by the Secretary 
 under paragraph (2), that--
 (i) there are not less than three 
 lenders of loans made under part B that 
 are not affiliates of each other 
 included on the preferred lender list 
 and, if the institution recommends, 
 promotes, or endorses private education 
 loans, there are not less than two 
 lenders of private education loans that 
 are not affiliates of each other 
 included on the preferred lender list; 
 and
 (ii) the preferred lender list under 
 this paragraph--
 (I) specifically indicates, 
 for each listed lender, whether 
 the lender is or is not an 
 affiliate of each other lender 
 on the preferred lender list; 
 and
 (II) if a lender is an 
 affiliate of another lender on 
 the preferred lender list, 
 describes the details of such 
 affiliation;
 (C) prominently disclose the method and 
 criteria used by the institution in selecting 
 lenders with which to enter into preferred 
 lender arrangements to ensure that such lenders 
 are selected on the basis of the best interests 
 of the borrowers, including--
 (i) payment of origination or other 
 fees on behalf of the borrower;
 (ii) highly competitive interest 
 rates, or other terms and conditions or 
 provisions of loans under this title or 
 private education loans;
 (iii) high-quality servicing for such 
 loans; or
 (iv) additional benefits beyond the 
 standard terms and conditions or 
 provisions for such loans;
 (D) exercise a duty of care and a duty of 
 loyalty to compile the preferred lender list 
 under this paragraph without prejudice and for 
 the sole benefit of the students attending the 
 institution, or the families of such students;
 (E) not deny or otherwise impede the 
 borrower's choice of a lender or cause 
 unnecessary delay in loan certification under 
 this title for those borrowers who choose a 
 lender that is not included on the preferred 
 lender list; and
 (F) comply with such other requirements as 
 the Secretary may prescribe by regulation.
 (2) Lender affiliates list.--
 (A) In general.--The Secretary shall maintain 
 and regularly update a list of lender 
 affiliates of all eligible lenders, and shall 
 provide such list to institutions for use in 
 carrying out paragraph (1)(B).
 (B) Use of most recent list.--An institution 
 shall use the most recent list of lender 
 affiliates provided by the Secretary under 
 subparagraph (A) in carrying out paragraph 
 (1)(B).
 (i) Definitions.--For the purpose of this section:
 (1) Agent.--The term ``agent'' has the meaning given 
 the term in section 151.
 (2) Affiliate.--The term ``affiliate'' means a person 
 that controls, is controlled by, or is under common 
 control with another person. A person controls, is 
 controlled by, or is under common control with another 
 person if--
 (A) the person directly or indirectly, or 
 acting through one or more others, owns, 
 controls, or has the power to vote five percent 
 or more of any class of voting securities of 
 such other person;
 (B) the person controls, in any manner, the 
 election of a majority of the directors or 
 trustees of such other person; or
 (C) the Secretary determines (after notice 
 and opportunity for a hearing) that the person 
 directly or indirectly exercises a controlling 
 interest over the management or policies of 
 such other person's education loans.
 (3) Education loan.--The term ``education loan'' has 
 the meaning given the term in section 151.
 (4) Eligible institution.--The term ``eligible 
 institution'' means any such institution described in 
 section 102 of this Act.
 (5) Officer.--The term ``officer'' has the meaning 
 given the term in section 151.
 (6) Preferred lender arrangement.--The term 
 ``preferred lender arrangement'' has the meaning given 
 the term in section 151.
 (j) Construction.--Nothing in the amendments made by the 
Higher Education Amendments of 1992 shall be construed to 
prohibit an institution from recording, at the cost of the 
institution, a hearing referred to in subsection (b)(2), 
subsection (c)(1)(D), or subparagraph (A) or (B)(i) of 
subsection (c)(2), of this section to create a record of the 
hearing, except the unavailability of a recording shall not 
serve to delay the completion of the proceeding. The Secretary 
shall allow the institution to use any reasonable means, 
including stenographers, of recording the hearing.

 * * * * * * *

Source: H. Rept. 119-461 · govinfo

How this bill changes current law

9 changes Share ↗

Compared against current U.S. Code AI-generated reading aid — verify against the official bill.

The bill replaces existing definitions related to college financial information and establishes new requirements for transparency in college tuition for consumers.

  • 20 U.S.C. § 1015a

    (a) DefinitionsIn this section: → (a) Definitions.--In this section:

    This change implements proper grammatical structure for the definitions section.

  • 20 U.S.C. § 1015a

    (1) College Navigator website The term “College Navigator website” means the College Navigator website operated by the Department and includes any successor website. → (1) College scorecard website.--The term `College Scorecard website' means the College Scorecard website required under subsection (b) and includes any successor website.

    This change updates the reference from College Navigator to College Scorecard.

  • 20 U.S.C. § 1015a

    (2) Cost of attendance The term “cost of attendance” means the average annual cost of tuition and fees, room and board, books, supplies, and transportation for an institution of higher education for a first-time, full-time undergraduate student enrolled in the institution. → (2) Cost of attendance.--The term `cost of attendance' has the meaning given such term in section 472(a).

    This change modifies the definition of 'cost of attendance' to align it with section 472(a).

  • 20 U.S.C. § 1015a

    (3) Net priceThe term “net price” means the average yearly price actually charged to first-time, full-time undergraduate students receiving student aid at an institution of higher education after deducting such aid, which shall be determined by calculating the difference between— → (3) Required costs.--The term `required costs' means the sum of all the items listed in section 472(a) that are required by an institution of higher education for a program of study for the program length of a program of study, for the time to credential for a student, or for an award year of a program of study, as applicable, including--

    This change greatly revises the definition and context of 'net price' to 'required costs,' diversifying its reference.

  • 20 U.S.C. § 1015a

    (4) Tuition and fees The term “tuition and fees” means the average annual cost of tuition and fees for an institution of higher education for first-time, full-time undergraduate students enrolled in the institution. → (4) Amount of grant and scholarship aid.--The term `amount of grant and scholarship aid' means the sum of all of the grant and scholarship aid that is available to the student for the program length of a program of study, for the time to credential for a student, or for an award year of a program of study, as applicable, that a student does not have to repay, including need-based, merit-based, or athletic-based, or another type of grant and scholarship aid, that is--

    This change alters the focus from 'tuition and fees' to detailing various types of 'grant and scholarship aid'.

  • 20 U.S.C. § 1015a

    (5) Net price required for completion.--(A) Total net price required for completion.--The term `total net price required for completion' means, with respect to a student in a program of study--

    This addition introduces a new definition surrounding the net price required for completion, enhancing the information available to students.

  • 20 U.S.C. § 1015a

    (6) Net price of attendance.--(A) Total net price of attendance.--The term `total net price of attendance' means, with respect to a student in a program of study, the sum of--

    This addition introduces a new definition for net price of attendance, allowing for granularity in financial calculations.

  • 20 U.S.C. § 1015a

    (7) Program length.--The term `program length' means the minimum amount of time in weeks, months, or years that is specified in the catalog, marketing materials, or other official publications of an institution of higher education for a full-time student to complete the requirements to obtain the degree or credential awarded for a specific program of study.

    This addition defines program length, providing clarity for students regarding their educational timeframe.

  • 20 U.S.C. § 1015a

    (8) Time to credential.--The term `time to credential' means, with respect to a student, the actual amount of time in weeks, months, or years it takes the student to complete the requirements to obtain the degree or credential awarded for a specific program of study.

    This addition defines the time to credential, offering insight into the actual timeline for students.

Action History

  1. Introduced in House

  2. Introduced in House

  3. Referred to the House Committee on Education and Workforce.

  4. Committee Consideration and Mark-up Session Held

  5. Ordered to be Reported (Amended) by the Yeas and Nays: 27 - 6.

  6. Reported (Amended) by the Committee on Education and Workforce. H. Rept. 119-461.

  7. Reported (Amended) by the Committee on Education and Workforce. H. Rept. 119-461.

  8. Placed on the Union Calendar, Calendar No. 395.

Sponsors

Sponsorship breakdown

Export CSV (upgrade) →

1 sponsors · 4 co-sponsors · 542 not signed on

Sponsors (1)

Co-sponsors (4)

Not signed on (542)

542 members have not signed on to this bill.

Show all 542 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance education
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does HR 6498 do?
Student Financial Clarity Act of 2025This bill requires certain actions to provide consumers (e.g., enrolled and prospective students) with additional financial information on institutions of higher education (IHEs) that participate in federal student aid programs.Specifically, the Department of Education (ED) must update its College Scorecard website with additional information, including detailed data (e.g., costs, financial aid, student debt and repayment, and earnings) for each program of study at each IHE. (The College Scorecard is a comparison tool for information on school sizes, settings, graduation rates, average costs, and salary ranges per field of study.)Additionally, ED must establish a Universal Net Price Calculator on a dedicated ED website and annually update the data. Among other elements, this calculator must (1) allow an individual to select and compare multiple IHEs and programs of study, (2) provide the individual with net price estimates for each selected IHE and each selected program of study, and (3) provide access to information in an electronic and downloadable format.Each IHE must make publicly available on its website either the net price calculator developed by ED or the IHE's own calculator (if it includes, at a minimum, the same data elements of ED's calculator).
Who sponsors HR 6498?
HR 6498 is sponsored by Guthrie, Brett (Republican), Onder, Robert F. (Republican), Trahan, Lori (Democratic), Norcross, Donald (Democratic), and Vindman, Eugene Simon (Democratic).
What is the current status of HR 6498?
This bill is in committee in the House. Introduced December 09, 2025. It must pass committee before a floor vote.
Where can I track HR 6498?
Track HR 6498 free on One Click Politics — get push/email alerts when it moves.

Make your voice heard on HR 6498

Find the representatives who decide this bill and tell them where you stand — for yourself, or mobilize your whole list in one click with One Click Politics advocacy software.

Find my representatives → Run a campaign

Stay ahead of HR 6498

Last checked for changes 3 months ago · updated continuously

One Click Politics tracks every bill in Congress and all 50 states.

Track this bill →