,,ii  #aag? ,,congress  #b;d ,session   
,s4 #diab  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,septemb] #ba1         
#bjbb,mr4 ,hawley introduc$ ! foll[+    
bill2 :i* 0 read twice & ref]r$ to !    
,committee on ,heal?1 ,education1       
,labor1 & ,p5sions  ,a ,,bill  ,to am5d 
! ,high] ,education ,act ( #aife to     
require in/itutions ( high] education to
 repay a portion ( /ud5t law default1 to
 make /ud5t loan debts dis*>geable 9    
bankruptcy1 & = o!r purposes4  #a4 ,%ort
 title ,?is ,act may be cit$ z ! ,make !
 ,univ]sities ,pay ,act4  #b4           
,in/itutions ( high] education repay+ a 
portion ( /ud5t loan debts ,section #ded
 ( ! ,high] ,education ,act ( #aife 7#bj
 ,u4,s4,c4 #ajhg;d7 is am5d$ by add+ at 
! end ! foll[+3  7d7 ,in/itutions (     
high] education repay+ a portion ( /ud5t
 loan debts  7#a7 ,9 g5]al ,ea*         
in/itution ( high] education p>ticipat+ 
9 ! direct /ud5t loan program "u ?is "p 
= a fiscal ye> %all be liable = #ej     
p]c5t ( any /ud5t loan balance t is 9   

default = a loan made "u ?is "p t 0 us$ 
t[>ds ! co/ ( att5dance at ! in/itution4
  7#b7 ,(fset exception ,an in/itution (
 high] education %all n increase ! co/s 
( tuition at ! in/itution1 *>ge any     
additional fee to /ud5ts1 or o!rwise    
increase ! co/ ( att5dance at !         
in/itution 9 ord] to (fset ! liability (
 ! in/itution "u p>agraph 7#a7 unless   
!re is an equival5t p]c5tage decrease 9 
adm9i/rative exp5ses at ! in/itution4  4
  #c4 ,mak+ /ud5t loan debts dis*>geable
 9 bankruptcy  7a7 ,exceptions ,to      
dis*>ge ,section #ebc7;a7 ( title #aa1  
,unit$ ,/ates ,code1 is am5d$ by /rik+  
p>agraph 7#h7 & ins]t+ ! foll[+3  7#h7 =
 an educational b5efit ov]paym5t or loan
 made1 insur$1 or gu>ante$ by a         
gov]nm5tal unit1 or made "u any program 
fund$ 9 :ole or 9 "p by a gov]nm5tal    
unit or nonpr(it in/itution1 or = an    
obligation to repay funds receiv$ z an  
educational b5efit1 s*ol>%ip1 or /ip5d  
receiv$ f a gov]nm5tal unit or nonpr(it 
in/itution1 unless-- 7,a7 except+ su*   

debt f dis*>ge "u ?is p>agraph w\ld     
impose an undue h>d%ip on ! debtor & !  
debtor's dep5d5ts2  7,b7 9 ! case ( su* 
an education b5efit ov]paym5t or loan = 
und]graduate education1 ! fir/ paym5t on
 su* debt became due be=e ! #e-ye> p]iod
 7exclusive ( any applicable susp5sion (
 ! repaym5t p]iod7 end+ on ! date ( !   
fil+ ( ! petition2 or  7,c7 9 ! case (  
su* an education b5efit ov]paym5t or    
loan = graduate education1 ! fir/ paym5t
 on su* debt became due be=e ! #ae-ye>  
p]iod 7exclusive ( any applicable       
susp5sion ( ! repaym5t p]iod7 end+ on ! 
date ( ! fil+ ( ! petition2  4  7b7     
,application ,! am5dm5t made by         
subsection 7a7 %all apply to any proce$+
 "u title #aa1 ,unit$ ,/ates ,code1 t is
 initiat$ on or aft] ! date t is #ahj   
days aft] ! date ( enactm5t ( ?is ,act4 
#d4 ,ensur+ transp>5cy ( /ud5t outcomes 
,section #dhg ( ! ,high] ,education ,act
 ( #aife 7#bj ,u4,s4,c4 #ajid7 is       
am5d$-- 7#a7 9 subsection 7a71 by add+  
at ! end ! foll[+3  7#cj7 ,! in/itution 

w1 n lat] ?an ,septemb] #cj1 #bjbc1 &   
annually !reaft]1 comply ) ! foll[+3    
7,a7 ,produce & transmit to ! ,secret>y 
/ati/ical analysis us+ ! /ati/ical      
sampl+ me?od develop$ "u subsection 7k7 
t consi/s ( ! foll[+ measures (         
po/-collegiate graduate outcomes = !    
in/itution z a :ole & disaggregat$ by   
ea* degree or program ( /udy (f]$ by !  
in/itution at "t int]vals ( #a ye>1 #e  
ye>s1 & #ae ye>s aft] graduation3 7i7   
,mean & m$ian e>n+s ( graduates4  7ii7  
,/ud5t loan default rates ( graduates4  
7,b7 ,publi% & make available to !      
public ! /ati/ical analysis produc$ "u  
subp>agraph 7,a7 on ! website ( !       
in/itution1 )9 #b clicks ( ! homepage & 
)\t a paywall1 email log91 or o!r       
re/riction to access4  2 &  7#b7 by add+
 at ! end ! foll[+3  7k7 ,ensur+        
transp>5cy ( /ud5t outcomes  7#a7       
,developm5t ( /ati/ical sampl+ me?od ,! 
,secret>y %all-- 7,a7 develop a         
/ati/ical sampl+ me?od to be us$ by     
in/itutions ( high] education 9 fulfill+

 ! requirem5t describ$ 9 subsection     
7a77#cj72 &  7,b7 e/abli% a se>*able    
database accessible to ! public ( all   
analyses transmitt$ to ! ,secret>y      
pursuant to subsection 7a77#cj7 t c be  
sort$ by in/itution & degree or program 
( /udy4  7#b7 ,audit & inve/igation     
au?ority ,! ,inspector ,g5]al ( !       
,dep>tm5t may audit & inve/igate !      
v]acity ( /ati/ical analysis transmitt$ 
to ! ,secret>y by an in/itution ( high] 
education4  4