,i  #aac? ,,congress  #a/ ,session  ,h4 
,r4 #aibh  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,may #i1 #bjac ,ms4   
,de,lauro 7= h]self1 ,mr4 ,grijalva1    
,ms4 ,s*w>tz1 & ,mr4 ,takano7 introduc$ 
! foll[+ bill2 :i* 0 ref]r$ to !        
,committee on ,education & ! ,work=ce   
,a ,,bill  ,to cl>ify ! calculation (   
cohort default rates = propriet>y       
in/itutions ( high] education "u !      
,high] ,education ,act ( #aife4  #a4    
,%ort title ,?is ,act may be cit$ z !   
,propriet>y ,in/itution ( ,high]        
,education ,acc\ntability ,act 4  #b4   
,cl>ification ( cohort default rate     
,section #dce7m77#a7 ( ! ,high]         
,education ,act ( #aife 7#bj ,u4,s4,c4  
#ajhe7m77#a77 is am5d$--  7#a7 9        
subp>agraph 7,b71 by ins]t+ aft] ! fir/ 
s5t5ce ! foll[+3 ,9 calculat+ ! cohort  
default rate = a propriet>y in/itution (
 high] education1 ! ,secret>y %all treat
 curr5t & =m] /ud5ts at ! in/itution :o 
h be5 grant$1 on loans made "u "p ,d &  
receiv$ = att5dance at ! in/itution1 a  

=be>ance or def]m5t describ$ 9          
subp>agraph 7,d7 = any p]iod exce$+     
#f-mon?s aft] ent]+ repaym5t on su*     
loans & be=e ! end ( ! second fiscal ye>
 foll[+ ! fiscal ye> 9 :i* su* /ud5ts   
ent]$ su* repaym5t1 z /ud5ts :o h       
default$ on su* loans be=e ! end ( su*  
second fiscal ye>42 &  7#b7 by add+ at !
 end ! foll[+ new subp>agraph3  7,d7 ,= 
purposes ( subp>agraph 7,b7--  7i7 ! t]m
 =be>ance means a =be>ance grant$ = a   
reason describ$ 9 subp>agraph           
7,a77i77,,ii7 or subp>agraph 7,b7 (     
section #dbh7;c77#c72 &  7ii7 ! t]m     
def]m5t means a def]m5t grant$ = a      
reason describ$ 9 subp>agraph 7,b7 or   
7,d7 ( section #dee7;f77#b74  4