,,ii  #aag? ,,congress  #b;d ,session   
,s4 #eaee  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,novemb] #cj           
7legislative day1 ,novemb] #bi71        
#bjbb,mr4 ,durb9 7= himself1 ,ms4 ,w>r51
 & ,ms4 ,smi?7 introduc$ ! foll[+ bill2 
:i* 0 read twice & ref]r$ to !          
,committee on ,heal?1 ,education1       
,labor1 & ,p5sions  ,a ,,bill  ,to      
e/abli% ! ,propriet>y ,education        
,int]ag5cy ,ov]sight ,coord9ation       
,committee & facilitate ! disclosure &  
report+ ( in=mation reg>d+ compla9ts &  
inve/igations relat$ to propriet>y      
in/itutions ( high] education eligible  
to receive ,f$]al education assi/ance4  
#a4 ,%ort title ,?is ,act may be cit$ z 
! ,propriet>y ,education ,int]ag5cy     
,ov]sight ,coord9ation ,improvem5t ,act4
  #b4 ,def9itions ,9 ?is ,act3 7#a7     
,accr$it+ ag5cy ,! t]m accr$it+ ag5cy   
means a private educational association 
t acts z a reliable au?ority on !       
quality ( education or tra9+ provid$ by 
an in/itution ( high] education & is    

recogniz$ by ! ,secret>y ( ,education "u
 section #dif ( ! ,high] ,education ,act
 ( #aife 7#bj ,u4,s4,c4 #ajii;b74  7#b7 
,executive (fic] ,! t]m executive (fic]1
 ) respect to a propriet>y in/itution ( 
high] education t is a publicly trad$   
corporation1 means-- 7,a7 ! presid5t (  
su* corporation2  7,b7 a vice presid5t (
 su* corporation :o is 9 *>ge ( a       
pr9cipal bus9ess unit1 division1 or     
function ( su* corporation1 su* z sales1
 adm9i/ration1 or f9ance2 or  7,c7 any  
o!r (fic] or p]son :o p]=ms a policy    
mak+ function = su* corporation1 includ+
 an executive (fic] ( a subsidi>y ( !   
corporation if ! (fic] p]=ms a policy   
mak+ function = ! corporation4  7#c7    
,f$]al education assi/ance ,! t]m ,f$]al
 education assi/ance :5 us$ ) respect to
 a propriet>y in/itution ( high]        
education1 means ,f$]al funds t are     
disburs$ or deliv]$ to or on behalf ( a 
/ud5t to be us$ = tuition1 fees1        
in/ruction1 or any compon5t ( ! /ud5t's 
co/ ( att5dance 7z def9$ 9 section #dgb 

( ! ,high] ,education ,act ( #aife 7#bj 
,u4,s4,c4 #ajhgll77 to att5d su*        
in/itution4  7#d7 ,in/itutional debt ,! 
t]m in/itutional debt means any debt ow$
 by a /ud5t or ! p>5t ( a /ud5t to an   
in/itution ( high] education1 includ+-- 
7,a7 debt ow$ ?r\gh a private loan      
program or income %>e agreem5t op]at$ by
 ! in/itution2  7,b7 debt ow$ f a return
 ( /ud5t assi/ance made1 insur$1 or     
gu>ante$ "u title ,,iv ( ! ,high]       
,education ,act #aife 7#bj ,u4,s4,c4    
#ajgj et seq47 to ! ,dep>tm5t (         
,education2 &  7,c7 debt ow$ f ! /ud5t's
 nonpaym5t ( in/itutional *>ges or fees4
  7#e7 ,private education loan ,! t]m   
private education loan means-- 7,a7 a   
loan provid$ by a private educational   
l5d] 7z def9$ 9 section #adj7;a7 ( !    
,tru? 9 ,l5d+ ,act 7#ae ,u4,s4,c4       
#afej7;a777 t-- 7i7 is n made1 insur$1  
or gu>ante$ "u title ,,iv ( ! ,high]    
,education ,act ( #aife 7#bj ,u4,s4,c4  
#ajgj et seq472  7ii7 is issu$ expressly
 = po/second>y educational exp5ses to a 

borr[]1 reg>dless ( :e!r ! loan is      
provid$ ?r\gh ! educational in/itution t
 ! subject /ud5t att5ds or directly to !
 borr[] f ! private educational l5d] 7z 
s def9$72 &  7iii7 is n made1 insur$1 or
 gu>ante$ "u title ,,vii or title ,,viii
 ( ! ,public ,heal? ,s]vice ,act 7#db   
,u4,s4,c4 #bib et seq4 & #bif et seq472 
&  7,b7 does n include an ext5sion (    
cr$it "u an op5 end consum] cr$it plan1 
a rev]se mortgage transaction1 a        
resid5tial mortgage transaction1 or any 
o!r loan t is secur$ by real prop]ty or 
a dwell+4  7#f7 ,propriet>y in/itution (
 high] education ,! t]m propriet>y      
in/itution ( high] education has ! mean+
 giv5 ! t]m 9 section #ajb7;b7 ( !      
,high] ,education ,act ( #aife 7#bj     
,u4,s4,c4 #ajjb7;b774  7#g7 ,recruit+ & 
m>ket+ activities  7,a7 ,9 g5]al ,except
 z provid$ 9 subp>agraph 7,b71 ! t]m    
recruit+ & m>ket+ activities means      
activities t consi/ ( ! foll[+3 7i7     
,adv]tis+ & promotion activities1       
includ+ paid ann\ncem5ts 9 newspap]s1   

magaz9es1 radio1 television1 billbo>ds1 
electronic m$ia1 nam+ rights1 or any o!r
 public m$ium ( communication1 includ+  
pay+ = displays or promotions at job    
fairs1 milit>y in/allations1 or college 
recruit+ ev5ts1 t are made directly or  
indirectly to a /ud5t1 a prospective    
/ud5t1 ! public1 an accr$it+ ag5cy1 a   
,/ate ag5cy1 or to ! ,secret>y by an    
in/itution ( high] education1 "o ( its  
repres5tatives1 or any p]son ) :om !    
in/itution has an agreem5t to provide   
educational programs1 adv]tis+1 or      
admissions s]vices4  7ii7 ,mislead+     
/atem5t1 misrepres5tation1 & sub/antial 
misrepres5tation 7z def9$ 9 section     
#ffh4ga7;c7 ( title #cd1 ,code ( ,f$]al 
,regulations1 or any successor          
regulation74  7iii7 ,ef=ts to id5tify & 
attract prospective /ud5ts1 ei!r        
directly or ?r\gh a contractor or o!r   
?ird p>ty1 includ+ contact conc]n+ a    
prospective /ud5t's pot5tial enrollm5t  
or application = a grant1 a loan1 or "w 
assi/ance "u title ,,iv ( ! ,high]      

,education ,act ( #aife 7#bj ,u4,s4,c4  
#ajgj et seq47 or p>ticipation 9        
preadmission or advis+ activities1      
includ+ solicit+ an individual to       
provide contact in=mation to an         
in/itution ( high] education1 includ+   
?r\gh websites e/abli%$ = su* purpose & 
funds paid to ?ird p>ties = su* purpose4
  7iv7 ,su* o!r activities z ! ,secret>y
 ( ,education may prescribe1 includ+    
pay+ = promotion or sponsor%ip (        
education or milit>y-relat$             
associations4  7,b7 ,exceptions ,any    
activity t is requir$ z a condition (   
receipt ( funds by an in/itution "u     
title ,,iv ( ! ,high] ,education ,act ( 
#aife 7#bj ,u4,s4,c4 #ajgj et seq471 is 
specifically au?oriz$ "u su* title1 or  
is o!rwise specifi$ by ! ,secret>y (    
,education1 %all n be consid]$ to be a  
recruit+ & m>ket+ activity "u           
subp>agraph 7,a74  7#h7 ,/ate approval  
ag5cy ,! t]m ,/ate approval ag5cy means 
any ,/ate ag5cy t det]m9es :e!r an      
in/itution ( high] education is legally 

au?oriz$ )9 su* ,/ate to provide a      
program ( education beyond second>y     
education4  7#i7 ,vet]ans s]vice        
organization ,! t]m vet]ans s]vice      
organization means an organization t    
is-- 7,a7 recogniz$ by ! ,secret>y (    
,vet]ans ,affairs = ! repres5tation (   
vet]ans "u section #eijb ( title #ch1   
,unit$ ,/ates ,code2  7,b7              
congressionally *>t]$ "u title #cf1     
,unit$ ,/ates ,code1 & s]ves or         
repres5ts vet]ans2  7,c7 recogniz$ by ! 
,secret>y ( ,vet]an ,affairs "u section 
#ad4fbh ( title #ch1 ,code ( ,f$]al     
,regulations 7or a successor            
regulation71 z a national organization1 
,/ate organization1 tribal organization1
 or regional or local organization2 or  
7,d7 an organization t has a record (   
demon/rat+ exp]tise 91 assi/s 91 or     
s]ves ! int]e/s ( vet]ans 9 education4  
#c4 ,e/abli%m5t ( committee  7a7        
,e/abli%m5t ,!re is e/abli%$ a committee
 to be kn[n z ! ,propriet>y ,education  
,int]ag5cy ,ov]sight ,coord9ation       

,committee 7ref]r$ to 9 ?is ,act z !    
,committee7 & to be compos$ ( ! head 7or
 ! designee ( su* head :o is designat$  
"u subsection 7d77 ( ea* ( ! foll[+     
,f$]al entities3 7#a7 ,! ,dep>tm5t (    
,education4  7#b7 ,! ,consum] ,f9ancial 
,protection ,bureau4  7#c7 ,! ,dep>tm5t 
( ,ju/ice4  7#d7 ,! ,securities &       
,ex*ange ,commission4  7#e7 ,! ,dep>tm5t
 ( ,def5se4  7#f7 ,! ,dep>tm5t (        
,vet]ans ,affairs4  7#g7 ,! ,f$]al      
,trade ,commission4  7#h7 ,! ,dep>tm5t (
 ,labor4  7#i7 ,! ,int]nal ,rev5ue      
,s]vice4  7#aj7 ,at ! discretion ( !    
,presid5t1 any o!r relevant ,f$]al ag5cy
 or dep>tm5t4  7b7 ,purposes ,!         
,committee %all h ! foll[+ purposes3    
7#a7 ,to improve en=cem5t ( applicable  
,f$]al laws & regulations4  7#b7 ,to    
increase acc\ntability ( propriet>y     
in/itutions ( high] education to /ud5ts 
& taxpay]s4  7#c7 ,to ensure ! promotion
 ( quality education programs4  7#d7 ,to
 r$uce & prev5t fraud & abuse by        
propriet>y in/itutions ( high]          

education4  7c7 ,responsibilities ,to   
meet ! purposes describ$ 9 subsection   
7b71 ! ,committee %all h ! foll[+       
responsibilities3 7#a7 ,coord9ate       
adm9i/rative ov]sight ( propriet>y      
in/itutions ( high] education-- 7,a7 su*
 t ! ,f$]al ag5cies repres5t$ on !      
,committee may develop a memor&um (     
und]/&+ to specify responsibilities (   
ea* su* ,f$]al ag5cy 9 creat+ ! report  
"u section #f2  7,b7 to enc\rage        
in=mation %>+ among ! ,f$]al ag5cies    
relat$ to ,f$]al inve/igations1 audits1 
or inquiries ( propriet>y in/itutions ( 
high] education2 &  7,c7 to increase    
coord9ation & coop]ation betwe5 ,f$]al &
 ,/ate ag5cies1 includ+ ,/ate ,attorneys
 ,g5]al & ,/ate approval ag5cies1 )     
respect to improv+ ov]sight &           
acc\ntability ( propriet>y in/itutions (
 high] education4  7#b7 ,syn!size       
cross-ag5cy indu/ry data on propriet>y  
in/itutions ( high] education to-- 7,a7 
develop an annual report "u section #f2 
7,b7 publi% a ,=-,pr(it ,college ,w>n+  

,li/ = ,p>5ts & ,/ud5ts1 9 accordance ) 
section #g2 &  7,c7 develop consi/5cy   
among ,f$]al & ,/ate ag5cies 9 !        
dissem9ation ( consum] in=mation reg>d+ 
propriet>y in/itutions ( high] education
 to ensure t /ud5ts1 p>5ts1 & o!r       
/akehold]s h easy access to su*         
in=mation4  7d7 ,memb]%ip  7#a7         
,designees ,! head ( a ,f$]al entity    
describ$ 9 subsection 7a7 may designate 
a high rank+ (ficial ( ! entity to s]ve 
z a designee on ! ,committee4 ,!        
designee %all be1 :5ev] possible1 ! head
 ( ! portion ( ! entity t is mo/        
relevant to ! purposes describ$ 9       
subsection 7b74  7#b7 ,*airp]son ,!     
,secret>y ( ,education or ! designee (  
su* ,secret>y %all s]ve z ! ,*airp]son (
 ! ,committee4  7#c7 ,committee support 
,! ,*airp]son ( ! ,committee %all ensure
 appropriate /aff & (ficials at !       
,dep>tm5t ( ,education are available to 
support ,committee-relat$ "w4  #d4      
,meet+s & advisory committee  7a7       
,committee meet+s ,! memb]s ( !         

,committee %all meet regul>ly1 b n less 
?an once dur+ ea* qu>t] ( ea* fiscal    
ye>1 to c>ry out ! purposes describ$ 9  
section #c7;b7 & responsibilities       
describ$ 9 section #c7;c74  7b7         
,propriet>y education ov]sight advisory 
committee  7#a7 ,9 g5]al ,! ,committee  
%all e/abli% a ,propriet>y ,education   
,ov]sight ,advisory ,committee to advise
 ! ,propriet>y ,education ,int]ag5cy    
,ov]sight ,coord9ation ,committee t     
meets n less ?an twice ea* fiscal ye>4  
7#b7 ,,faca applicability ,! activities 
( ! ,propriet>y ,education ,ov]sight    
,advisory ,committee %all be subject to 
! provisions ( ! ,f$]al ,advisory       
,committee ,act 7#e ,u4,s4,c4 ,app474   
7#c7 ,memb]%ip ,! ,propriet>y ,education
 ,ov]sight ,advisory ,committee %all be 
compos$ ( ! foll[+ memb]s3 7,a7 ,/ate   
,attorneys ,g5]al4  7,b7 ,repres5tatives
 f ,/ate approval ag5cies4  7,c7        
,repres5tatives f vet]ans s]vice        
organizations4  7,d7 ,repres5tatives f  
accr$it+ ag5cies4  7,e7 ,repres5tatives 

f civil rights organizations4  7,f7     
,repres5tatives f propriet>y in/itutions
 ( high] education4  7,g7 ,consum]      
advocates4  7,h7 ,any additional        
/akehold]s deem$ relevant by !          
,propriet>y ,education ,int]ag5cy       
,ov]sight ,coord9ation ,committee to    
provide input & in=mation to enable !   
,propriet>y ,education ,int]ag5cy       
,ov]sight ,coord9ation ,committee to    
c>ry out ! purposes describ$ 9 section  
#c7;b7 & responsibilities 9 section     
#c7;c74  #e4 ,collection & track+ (     
compla9ts  7a7 ,9 g5]al ,9 consultation 
) ! ,committee1 ! ,secret>y ( ,education
 %all e/abli% a s+le1 toll-free         
telephone numb]1 a website1 & a database
 7or utilize an exi/+ database7 to      
facilitate ! c5traliz$ collection (1    
monitor+ (1 & response to /ud5t         
compla9ts reg>d+ ! s]vices or activities
 ( any propriet>y in/itution ( high]    
education eligible = ,f$]al education   
assi/ance4 ,! ,committee %all coord9ate 
) ! ,f$]al ag5cies repres5t$ on !       

,committee to r\te compla9ts to su*     
ag5cies1 :]e appropriate4  7b7 ,r\t+    
calls to /ates ,to ! ext5t practicable1 
,/ate approval ag5cies may receive      
appropriate compla9ts f ! sy/ems        
e/abli%$ "u subsection 7a71 if-- 7#a7 ! 
,/ate approval ag5cy sy/em has !        
functional capacity to receive calls or 
electronic reports r\t$ by ! ,dep>tm5t (
 ,education sy/ems2  7#b7 ! ,/ate       
approval ag5cy has satisfi$ any         
conditions ( p>ticipation 9 ! sy/em t ! 
,dep>tm5t ( ,education may e/abli%1     
includ+ treatm5t ( p]sonally id5tifiable
 in=mation & %>+ ( in=mation on compla9t
 resolution or relat$ compliance        
proc$ures & res\rces2 &  7#c7           
p>ticipation by ! ,/ate approval ag5cy  
includes measures necess>y to provide = 
protection ( p]sonally id5tifiable      
in=mation t con=m to ! /&>ds =          
protection ( ! confid5tiality (         
p]sonally id5tifiable in=mation & = data
 integrity & security t apply to !      
,f$]al ag5cies describ$ 9 subsection    

7c74  7c7 ,data %>+ requir$ ,to         
facilitate prep>ation ( ! reports       
requir$ "u section #f1 sup]vision &     
en=cem5t activities1 & monitor+ ( !     
m>ket = educational s]vices provid$ by  
any propriet>y in/itution ( high]       
education eligible = ,f$]al education   
assi/ance1 ! ,committee memb]s %all %>e 
/ud5t compla9t in=mation ) accr$it+     
ag5cies1 ! ,f$]al ,trade ,commission1   
o!r ,f$]al ag5cies1 & ,/ate ag5cies1    
subject to ! /&>ds applicable to ,f$]al 
ag5cies = protection ( ! confid5tiality 
( p]sonally id5tifiable in=mation & =   
data security & integrity4 ,! accr$it+  
ag5cies1 ! ,f$]al ,trade ,commission1 & 
o!r ,f$]al ag5cies %all %>e data relat+ 
to /ud5t compla9ts reg>d+ educational   
s]vices provid$ by any propriet>y       
in/itution ( high] education ) !        
,dep>tm5t ( ,education1 subject to !    
/&>ds applicable to ,f$]al ag5cies =    
protection ( confid5tiality ( p]sonally 
id5tifiable in=mation & = data security 
& integrity4  #f4 ,report  7a7 ,9 g5]al 

,! ,committee %all submit an annual     
report to ! ,committee on ,heal?1       
,education1 ,labor1 & ,p5sions ( !      
,s5ate1 ! ,committee on ,education &    
,labor ( ! ,h\se ( ,repres5tatives1 &   
any o!r committee ( ,congress t !       
,committee det]m9es appropriate4  7b7   
,public access ,! report describ$ 9     
subsection 7a7 %all be made available to
 ! public 9 a mann] t is easily         
accessible to p>5ts1 /ud5ts1 & o!r      
/akehold]s4  7c7 ,cont5ts  7#a7 ,9 g5]al
 ,! report %all include-- 7,a7 a        
description ( ! role ( ea* memb] ( !    
,committee 9 a*iev+ ! purposes describ$ 
9 section #c7;b72  7,b7 an acc\nt+ ( any
 action tak5 by ! ,f$]al ,gov]nm5t1 any 
memb] entity ( ! ,committee1 or a ,/ate 
to en=ce ,f$]al or ,/ate laws &         
regulations applicable to a propriet>y  
in/itution ( high] education2  7,c7 a   
summ>y ( compla9ts receiv$1 resolv$1 or 
p5d+ aga9/ ea* propriet>y in/itution (  
high] education dur+ ! applicable ye>1  
includ+-- 7i7 /ud5t compla9ts collect$  

by ! compla9t sy/em e/abli%$ "u section 
#e or receiv$ by any memb] entity ( !   
,committee2  7ii7 any compla9t fil$ by a
 ,f$]al or ,/ate ag5cy 9 a ,f$]al1      
,/ate1 local1 or tribal c\rt2  7iii7 any
 adm9i/rative proce$+ by a ,f$]al or    
,/ate ag5cy involv+ noncompliance ( any 
applicable law or regulation2  7iv7 any 
o!r review1 audit1 or adm9i/rative      
process by any ,f$]al or ,/ate ag5cy t  
results 9 a p5alty1 susp5sion1 or       
t]m9ation f any ,f$]al or ,/ate program2
 &  7v7 any compla9t1 review1 audit1 or 
adm9i/rative process initiat$ aga9/ !   
propriet>y in/itution ( high] education 
by an accr$it+ ag5cy or any adv]se      
action tak5 by an accr$it+ ag5cy dur+ ! 
applicable ye>2  7,d7 ! data describ$ 9 
p>agraph 7#b7 & any o!r data relevant to
 propriet>y in/itutions ( high]         
education t ! ,committee det]m9es       
appropriate2 &  7,e7 recomm5dations ( ! 
,committee = su* legislative &          
adm9i/rative actions z ! ,committee     
det]m9es are necess>y to-- 7i7 improve  

en=cem5t ( applicable ,f$]al laws2  7ii7
 increase acc\ntability ( propriet>y    
in/itutions ( high] education to /ud5ts 
& taxpay]s2  7iii7 r$uce & prev5t fraud 
& abuse by propriet>y in/itutions (     
high] education2 &  7iv7 ensure !       
promotion ( quality education programs4 
7#b7 ,data  7,a7 ,indu/ry-wide data ,!  
report %all include data on all         
propriet>y in/itutions ( high] education
 t consi/s ( in=mation reg>d+-- 7i7 !   
total am\nt ( ,f$]al education assi/ance
 t propriet>y in/itutions ( high]       
education receiv$ = ! previ\s academic  
ye>1 & ! p]c5tage ( ! total am\nt (     
,f$]al education assi/ance provid$ to   
in/itutions ( high] education 7z def9$ 9
 section #ajb ( ! ,high] ,education ,act
 ( #aife 7#bj ,u4,s4,c4 #ajjb77 = su*   
previ\s academic ye> t reflects su*     
total am\nt ( ,f$]al education assi/ance
 provid$ to propriet>y in/itutions (    
high] education = su* previ\s academic  
ye>2  7ii7 ! total am\nt ( ,f$]al       
education assi/ance t propriet>y        

in/itutions ( high] education receiv$ = 
! previ\s academic ye>1 disaggregat$    
by-- 7,i7 educational assi/ance 9 ! =m (
 a loan provid$ "u title ,,iv ( ! ,high]
 ,education ,act ( #aife 7#bj ,u4,s4,c4 
#ajgj et seq472  7,,ii7 educational     
assi/ance 9 ! =m ( a grant provid$ "u   
title ,,iv ( ! ,high] ,education ,act ( 
#aife 7#bj ,u4,s4,c4 #ajgj et seq472    
7,,iii7 educational assi/ance provid$ "u
 *apt] #cc ( title #ch1 ,unit$ ,/ates   
,code2  7,,iv7 assi/ance = tuition &    
exp5ses "u section #bjjg ( title #aj1   
,unit$ ,/ates ,code2  7,v7 assi/ance    
provid$ "u section #aghd;a ( title #aj1 
,unit$ ,/ates ,code2 &  7,,vi7 ,f$]al   
education assi/ance n describ$ 9        
subclauses 7,i7 ?r\gh 7,v72  7iii7 !    
p]c5tage ( ! total am\nt ( ,f$]al       
education assi/ance provid$ to          
in/itutions ( high] education 7z def9$ 9
 section #ajb ( ! ,high] ,education ,act
 ( #aife 7#bj ,u4,s4,c4 #ajjb77 = su*   
previ\s academic ye> = ea* ( ! programs 
describ$ 9 subclauses 7,i7 ?r\gh 7,,vi7 

( clause 7ii7 t reflects su* total am\nt
 ( ,f$]al education assi/ance provid$ to
 propriet>y in/itutions ( high]         
education = su* previ\s academic ye> =  
ea* ( su* programs2  7iv7 ! av]age      
ret5tion & graduation rates = /ud5ts    
pursu+ a degree at propriet>y           
in/itutions ( high] education2  7v7 !   
av]age cohort default rate 7z def9$ 9   
section #dce7m7 ( ! ,high] ,education   
,act ( #aife 7#bj ,u4,s4,c4 #ajhe7m77 = 
propriet>y in/itutions ( high]          
education1 & li/ ( ea* cohort default   
rate = ea* propriet>y in/itution ( high]
 education2  7vi7 ! av]age pre-enrollm5t
 exp5ditures on a p]-enroll$-/ud5t      
basis1 includ+ exp5ditures on recruit+ &
 m>ket+ activities2  7vii7 ! av]age     
educational & g5]al exp5ditures 7z def9$
 9 section #ejb ( ! ,high] ,education   
,act ( #aife 7#bj ,u4,s4,c4 #aaja;a77 p]
 /ud5t1 exclud+ all pre-enrollm5t       
exp5ditures2  7viii7 = c>e]s requir+ !  
passage ( a lic5s+ exam9ation-- 7,i7 !  
passage rate ( individuals :o att5d$ a  

propriet>y in/itution ( high] education 
tak+ su* exam9ation to pursue su* a     
c>e]2 &  7,,ii7 ! passage rate ( all    
individuals tak+ su* exam to pursue su* 
a c>e]2 &  7ix7 ! use ( private         
education loans at propriet>y           
in/itutions ( high] education t         
includes-- 7,i7 an e/imate ( ! total    
numb] ( su* loans2  7,,ii7 in=mation on 
! av]age debt1 default rate1 & int]e/   
rate ( su* loans2 &  7,,iii7 ! names (  
ea* l5d] provid+ private education loans
 to borr[]s ) respect to ea* propriet>y 
in/itution ( high] education 9 ! prior  
academic ye>1 includ+-- 7aa7 ! numb] (  
borr[]s receiv+ loans f ea* l5d]2 &     
7bb7 ! volume ( doll>s provid$ to       
borr[]s ) respect to ! propriet>y       
in/itution ( high] education by ea*     
l5d]4  7,b7 ,data on publicly trad$     
corporations  7i7 ,9 g5]al ,! report    
%all include data on propriet>y         
in/itutions ( high] education t are     
publicly trad$ corporations1 consi/+ (  
in=mation on-- 7,i7 any pre-tax pr(it ( 

su* propriet>y in/itutions ( high]      
education-- 7aa7 report$ z a total am\nt
 & an av]age p]c5t ( rev5ue = all su*   
propriet>y in/itutions ( high]          
education2 &  7bb7 report$ = ea* su*    
propriet>y in/itution ( high] education2
  7,,ii7 rev5ue = su* propriet>y        
in/itutions ( high] education sp5t on   
recruit+ & m>ket+ activities1 /ud5t     
in/ruction1 & /ud5t support s]vices1    
report$-- 7aa7 z a total am\nt & an     
av]age p]c5t ( rev5ue = all su*         
propriet>y in/itutions ( high]          
education2 &  7bb7 = ea* su* propriet>y 
in/itution ( high] education2  7,,iii7  
total comp5sation packages ( ! executive
 (fic]s ( ea* su* propriet>y in/itution 
( high] education2  7,,iv7 a li/ (      
in/itutional loan programs (f]$ by ea*  
su* propriet>y in/itution ( high]       
education t includes in=mation on !     
default & int]e/ rates ( su* programs2 &
  7,v7 ! data describ$ 9 clauses 7ii7 & 
7iii74  7ii7 ,disaggregat$ by own]%ip ,!
 report %all include data on propriet>y 

in/itutions ( high] education t are     
publicly trad$ corporations1            
disaggregat$ by corporate or p>5t       
entity1 br& "n1 & campus1 consi/+ (--   
7,i7 ! av]age total co/ ( att5dance at  
ea* su* propriet>y in/itution ( high]   
education1 & in=mation comp>+ su* total 
co/ = ea* su* program to-- 7aa7 ! av]age
 total co/ ( att5dance-- 7,,aa7 at ea*  
public in/itution ( high] education2 &  
7,,bb7 at ea* public in/itution ( high] 
education t (f]s ! same level (         
education degree or c]tification z !    
propriet>y in/itution ( high] education2
 &  7bb7 ! av]age total co/ (           
att5dance-- 7,,aa7 at all in/itutions ( 
high] education1 includ+ su* in/itutions
 t are public & su* in/itutions t are   
private2 & 7,,bb7 at all in/itutions (  
high] education t (f] ! same level (    
education degree or c]tification z !    
propriet>y in/itution ( high] education1
 includ+ su* in/itutions t are public & 
su* in/itutions t are private2  7,,ii7  
total enrollm5t1 disaggregat$ by-- 7aa7 

individuals enroll$ 9 programs tak5     
onl9e2  7bb7 individuals enroll$ 9      
programs t are n tak5 onl9e2 &  7cc7    
individuals enroll$ 9 programs tak5 bo? 
onl9e & n onl9e2  7,,iii7 ! av]age      
ret5tion & graduation rates = /ud5ts    
pursu+ a degree at su* propriet>y       
in/itutions ( high] education2  7,,iv7 !
 p]c5tage ( /ud5ts enroll$ 9 su*        
propriet>y in/itutions ( high] education
 :o complete a program ( su* an         
in/itution )9-- 7aa7 ! /&>d p]iod (     
completion = su* program2 &  7bb7 a     
p]iod t is #aej p]c5t ( su* /&>d p]iod (
 completion2  7,v7 ! av]age total co/ ( 
att5dance = ea* program at su*          
propriet>y in/itutions ( high]          
education2  7,,vi7 ! av]age cohort      
default rate1 z def9$ 9 section #dce7m7 
( ! ,high] ,education ,act ( #aife 7#bj 
,u4,s4,c4 #ajhe7m771 = su* propriet>y   
in/itutions ( high] education1 & an     
annual li/ ( cohort default rates 7z s  
def9$7 = all propriet>y in/itutions (   
high] education2  7,,vii7 ! m$ian ,f$]al

 educational debt incurr$ by /ud5ts :o  
complete a program at su* a propriet>y  
in/itution ( high] education2  7,,viii7 
! m$ian ,f$]al educational debt incurr$ 
by /ud5ts :o />t b d n complete a       
program at su* a propriet>y in/itution (
 high] education2  7,,ix7 ! job placem5t
 rate = /ud5ts :o complete a program at 
su* a propriet>y in/itution ( high]     
education & ! type ( employm5t obta9$ by
 su* /ud5ts2  7,x7 = c>e]s requir+ !    
passage ( a lic5s+ exam9ation1 ! rate ( 
individuals :o att5d$ su* a propriet>y  
in/itution ( high] education & pass$ su*
 an exam9ation2  7,,xi7 ! numb] (       
compla9ts f /ud5ts enroll$ 9 su*        
propriet>y in/itutions ( high] education
 :o h submitt$ a compla9t to any memb]  
entity ( ! ,committee2 &  7,,xii7 !     
volume ( in/itutional debt1 numb] (     
/ud5ts :o owe in/itutional debts1 &     
av]age am\nt ( in/itutional debt ow$ by 
ea* /ud5t4  7iii7 ,dep>tm5t ( def5se &  
vet]ans affairs assi/ance  7,i7 ,9 g5]al
 ,to ! ext5t practicable1 ! report %all 

provide in=mation on ! data describ$ 9  
clause 7ii7 = individuals us+1 to pay = 
! co/s ( att5d+ su* a propriet>y        
in/itution ( high] education1 ,f$]al    
education assi/ance provid$ "u-- 7aa7   
*apt] #cc ( title #ch1 ,unit$ ,/ates    
,code2  7bb7 section #bjjg ( title #aj1 
,unit$ ,/ates ,code2 &  7cc7 section    
#aghd;a ( title #aj1 ,unit$ ,/ates      
,code4  7,,ii7 ,rev5ue ,! report %all   
provide in=mation on ! rev5ue (         
propriet>y in/itutions ( high] education
 t are publicly trad$ corporations t is 
d]iv$ f ! ,f$]al education assi/ance    
describ$ 9 subclause 7,i74  7,c7        
,comp>ison data ,to ! ext5t practicable1
 ! report %all provide in=mation comp>+ 
! data describ$ 9 subp>agraph 7,b7 =    
propriet>y in/itutions ( high] education
 t are publicly trad$ corporations ) su*
 data = public in/itutions ( high]      
education disaggregat$ by ,/ate4  7#c7  
,acc\nt+ ( any action ,= ! purposes (   
p>agraph 7#a77;,b71 ! t]m any action    
%all include-- 7,a7 a compla9t fil$ by a

 ,f$]al or ,/ate ag5cy 9 a local1 ,/ate1
 ,f$]al1 or tribal c\rt2  7,b7 an       
adm9i/rative proce$+ by a ,f$]al or     
,/ate ag5cy involv+ noncompliance ( any 
applicable law or regulation2 or  7,c7  
any o!r review1 audit1 or adm9i/rative  
process by any ,f$]al or ,/ate ag5cy t  
results 9 a p5alty1 susp5sion1 or       
t]m9ation f any ,f$]al or ,/ate program4
  #g4 ,=-pr(it college w>n+ li/ = p>5ts 
& /ud5ts  7a7 ,9 g5]al ,ea* academic    
ye>1 ! ,secret>y ( ,education on behalf 
( ! ,committee %all publi% a li/ to be  
kn[n z ! ,=-,pr(it ,college ,w>n+ ,li/ =
 ,p>5ts & ,/ud5ts to be compris$ (      
propriet>y in/itutions ( high]          
education-- 7#a7 t h be5 su$ = f9ancial 
relief by a ,f$]al or ,/ate au?ority1 or
 ?r\gh a qui tam action 9 :i* ! ,f$]al  
,gov]nm5t has int]v5$2  7#b7 t are      
requir$ to pay a debt or incur a        
liability f a settlem5t1 arbitration    
proce$+1 or f9al judgm5t 9 a judicial   
proce$+ ) a ,f$]al or ,/ate ag5cy & !   
case addresses misrepres5tation1 fraud1 

liability "u sections #cgbi ?r\gh #cgcc 
( title #ca1 ,unit$ ,/ates ,code        
7commonly kn[n z ! ,false ,claims ,act71
 or o!r borr[] def5se to repaym5t       
claims2  7#c7 t h p5d+ claims = borr[]  
relief dis*>ge "u ! borr[] def5se to    
repaym5t regulations f /ud5ts or =m]    
/ud5ts ( ! in/itution & ! ,secret>y (   
,education has =m$ a gr\p process to    
consid] ! claims2  7#d7 t h _h any      
eligibility = p>ticipation )drawn or    
susp5d$ ) respect to-- 7,a7 educational 
assi/ance 9 ! =m ( a loan provid$ "u    
title ,,iv ( ! ,high] ,education ,act ( 
#aife 7#bj ,u4,s4,c4 #ajgj et seq472    
7,b7 educational assi/ance 9 ! =m ( a   
grant provid$ "u title ,,iv ( ! ,high]  
,education ,act ( #aife 7#bj ,u4,s4,c4  
#ajgj et seq472  7,c7 educational       
assi/ance provid$ "u *apt] #cc ( title  
#ch1 ,unit$ ,/ates ,code2  7,d7         
assi/ance = tuition & exp5ses "u section
 #bjjg ( title #aj1 ,unit$ ,/ates ,code2
  7,e7 assi/ance provid$ "u section     
#aghd;a ( title #aj1 ,unit$ ,/ates      

,code2 or  7,f7 ,f$]al education        
assi/ance n describ$ 9 subp>agraphs 7,a7
 ?r\gh 7,e72 or  7#e7 t h be5 deem$     
ineligible to receive ,f$]al education  
assi/ance = ! next ye> or requir$ to    
repay ,f$]al education assi/ance        
previ\sly receiv$ 9 applicable report   
ye>4  7b7 ,summ>y ,! ,=-,pr(it ,college 
,w>n+ ,li/ = ,p>5ts & ,/ud5ts %all      
include a summ>y 9 pla9 language ( !    
basis ( ea* propriet>y in/itution (     
high] education's inclusion on ! li/4   
7c7 ,proc$ures ,! ,committee %all       
e/abli% & apply review proc$ures = !    
,=-,pr(it ,college ,w>n+ ,li/ = ,p>5ts &
 ,/ud5ts1 includ+ evaluation & )drawal  
proce$+s t provide-- 7#a7 = adequate    
writt5 specification (-- 7,a7 ! proc$ure
 = id5tify+ propriet>y intuitions (     
high] education = inclusion on ! li/2 & 
7,b7 id5tifi$ defici5cies at !          
propriet>y in/itutions ( high]          
education2 &  7#b7 = suffici5t          
opportunity = a writt5 response by a    
propriet>y in/itution ( high] education 

reg>d+ any defici5cies id5tifi$ by !    
,committee-- 7,a7 )9 a timeframe det]m9$
 by ! ,committee2 &  7,b7 prior to !    
f9al publication ( ! ,=-,pr(it ,college 
,w>n+ ,li/ = ,p>5ts & ,/ud5ts4  7d7     
,publication ,n lat] ?an ,july #a ( ea* 
fiscal ye>1 on behalf ( ! ,committee1 ! 
,secret>y ( ,education %all publi% !    
,=-,pr(it ,college ,w>n+ ,li/ = ,p>5ts &
 ,/ud5ts prom95tly & 9 a mann] t is     
easily accessible to p>5ts1 curr5t      
/ud5ts1 prospective /ud5ts1 & o!r       
/akehold]s4 ,! ,secret>y ( ,education   
may incorporate ! ,=-,pr(it ,college    
,w>n+ ,li/ = ,p>5ts & ,/ud5ts into      
preexi/+1 widely us$ plat=ms4