,,ii #aahth ,,congress #ast ,session ,s4 #aigb ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,june #ad1 #bjbc ,mr4 ,cassidy 7for himself1 ,mr4 ,cornyn1 ,mr4 ,grassley1 ,mr4 ,scott of ,south ,carolina1 and ,mr4 ,tuberville7 introduced the following bill2 which was read twice and referred to the ,committee on ,health1 ,education1 ,labor1 and ,pensions ,a ,,bill ,to increase college transparency1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,lowering ,education ,costs and ,debt ,act4 #b4 ,table of contents ,the table of contents of this ,act is as follows3 ,sec4 #a4 ,short title4 ,sec4 #b4 ,table of contents4 ,,title ,i--,college ,transparency ,sec4 #aja4 ,postsecondary student data system4 ,sec4 #ajb4 ,repeal of prohibition on student data system4 ,sec4 #ajc4 ,institutional requirements4 ,sec4 #ajd4 ,transition provisions4 ,,title ,,ii--,understanding the true cost of college ,sec4 #bja4 ,institution ,financial ,aid ,offer ,form4 ,sec4 #bjb4 ,mandatory form4 ,,title ,,iii--,informed student borrowing ,sec4 #cja4 ,counseling and financial aid disclosures4 ,sec4 #cjb4 ,annual requirement to manually enter loan amount4 ,sec4 #cjc4 ,work study4 ,,title ,,iv--,streamlining ,accountability and ,value in ,education for ,students ,sec4 #dja4 ,loan repayment simplification and income-driven repayment reform4 ,sec4 #djb4 ,taxpayer and consumer protection on student loans4 ,sec4 #djc4 ,phase out of income-based repayment4 ,,title ,v--,graduate opportunity and affordable loans ,sec4 #eja4 ,loan limits4 ,i ,college ,transparency #aja4 ,postsecondary student data system ,section #acb of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4 #ajae;a7 is amended-- 7#a7 by redesignating subsection 7l7 as subsection 7m72 and 7#b7 by inserting after subsection 7k7 the following3 7l7 ,postsecondary student data system 7#a7 ,in general 7,a7 ,establishment of system ,not later than #d years after the date of enactment of the ,lowering ,education ,costs and ,debt ,act1 the ,commissioner of the ,national ,center for ,education ,statistics 7referred to in this subsection as the ,commissioner7 shall develop and maintain a secure and privacy-protected postsecondary student-level data system in order to-- 7i7 accurately evaluate student enrollment patterns1 progression1 completion1 and postcollegiate outcomes1 and higher education costs and financial aid2 7ii7 assist with transparency1 institutional improvement1 and analysis of ,federal aid programs2 7iii7 provide accurate1 complete1 and customizable information for students and families making decisions about postsecondary education2 and 7iv7 reduce the reporting burden on institutions of higher education1 in accordance with section #ajd of the ,lowering ,education ,costs and ,debt ,act4 7,b7 ,avoiding duplicated reporting ,notwithstanding any other provision of this section1 to the extent that another provision of this section requires the same reporting or collection of data that is required under this subsection1 an institution of higher education1 or the ,secretary or ,commissioner1 shall use the reporting or data required for the postsecondary student data system under this subsection to satisfy both requirements4 7,c7 ,development process ,in developing the postsecondary student data system described in this subsection1 the ,commissioner shall-- 7i7 focus on the needs of-- 7,i7 users of the data system2 and 7,,ii7 entities1 including institutions of higher education1 reporting to the data system2 7ii7 take into consideration1 to the extent practicable-- 7,i7 the guidelines outlined in the ,u4,s4 ,web ,design ,standards maintained by the ,general ,services ,administration and the ,digital ,services ,playbook and ,tech,f,a,r ,handbook for ,procuring ,digital ,services ,using ,agile ,processes of the ,u4,s4 ,digital ,service2 and 7,,ii7 the relevant successor documents or recommendations of such guidelines2 7iii7 use modern1 relevant privacy- and security-enhancing technology1 and enhance and update the data system as necessary to carry out the purpose of this subsection2 7iv7 ensure data privacy and security is consistent with any relevant ,federal law relating to privacy or data security1 including-- 7,i7 the requirements of subchapter ,,ii of chapter #ce of title #dd1 ,united ,states ,code1 specifying security categorization under the ,federal ,information ,processing ,standards or any relevant successor of such standards2 7,,ii7 security requirements that are consistent with the ,federal agency responsibilities in section #ceed of title #dd1 ,united ,states ,code1 or any relevant successor of such responsibilities2 and 7,,iii7 security requirements1 guidelines1 and controls consistent with cybersecurity standards and best practices developed by the ,national ,institute of ,standards and ,technology1 including frameworks1 consistent with section #b7;c7 of the ,national ,institute of ,standards and ,technology ,act 7#ae ,u4,s4,c4 #bgb7;c771 or any relevant successor of such frameworks2 7v7 follow ,federal data minimization practices to ensure only the minimum amount of data is collected to meet the system's goals1 in accordance with ,federal data minimization standards and guidelines developed by the ,national ,institute of ,standards and ,technology2 and 7vi7 provide notice to students outlining the data included in the system and how the data are used4 7#b7 ,data elements 7,a7 ,in general ,not later than #d years after the date of enactment of the ,lowering ,education ,costs and ,debt ,act1 the ,commissioner1 in consultation with the ,postsecondary ,student ,data ,system ,advisory ,committee established under subparagraph 7,b71 shall determine-- 7i7 the data elements to be included in the postsecondary student data system1 in accordance with subparagraphs 7,c7 and 7,d72 and 7ii7 how to include the data elements required under subparagraph 7,c71 and any additional data elements selected under subparagraph 7,d71 in the postsecondary student data system4 7,b7 ,postsecondary student data system advisory committee 7i7 ,establishment ,not later than #b years after the date of enactment of the ,lowering ,education ,costs and ,debt ,act1 the ,commissioner shall establish a ,postsecondary ,student ,data ,system ,advisory ,committee 7referred to in this subsection as the ,advisory ,committee71 whose members shall include-- 7,i7 the ,chief ,privacy ,officer of the ,department or an official of the ,department delegated the duties of overseeing data privacy at the ,department2 7,,ii7 the ,chief ,security ,officer of the ,department or an official of the ,department delegated the duties of overseeing data security at the ,department2 7,,iii7 representatives of diverse institutions of higher education1 which shall include equal representation between #b-year and #d-year institutions of higher education1 and from public1 nonprofit1 and proprietary institutions of higher education1 including minority-serving institutions2 7,,iv7 representatives from ,state higher education agencies1 entities1 bodies1 or boards2 7,v7 representatives of postsecondary students2 7,,vi7 representatives from relevant ,federal agencies2 7,,vii7 individuals with expertise in data privacy and security2 and 7,,viii7 other stakeholders 7including individuals with consumer protection and postsecondary education research74 7ii7 ,requirements ,the ,commissioner shall ensure that the ,advisory ,committee-- 7,i7 adheres to all requirements under chapter #aj of title #e1 ,united ,states ,code 7commonly known as the ,federal ,advisory ,committee ,act72 7,,ii7 establishes operating and meeting procedures and guidelines necessary to execute its advisory duties2 and 7,,iii7 is provided with appropriate staffing and resources to execute its advisory duties4 7,c7 ,required data elements ,the data elements in the postsecondary student data system shall include1 at a minimum1 the following3 7i7 ,student-level data elements necessary to calculate the information within the surveys designated by the ,commissioner as student-related surveys in the ,integrated ,postsecondary ,education ,data ,system 7,,ipeds71 as such surveys are in effect on the day before the date of enactment of the ,lowering ,education ,costs and ,debt ,act1 except that in the case that collection of such elements would conflict with subparagraph 7,f71 such elements in conflict with subparagraph 7,f7 shall be included in the aggregate instead of at the student level4 7ii7 ,student-level data elements necessary to allow for reporting student enrollment1 persistence1 retention1 transfer1 and completion measures for all credential levels separately 7including certificate1 associate1 baccalaureate1 and advanced degree levels71 within and across institutions of higher education 7including across all categories of institution level1 control1 and predominant degree awarded74 ,the data elements shall allow for reporting about all such data disaggregated by the following categories3 7,i7 ,enrollment status as a first-time student1 recent transfer student1 or other non-first-time student4 7,,ii7 ,attendance intensity1 whether full-time or part-time4 7,,iii7 ,credential-seeking status1 by credential level4 7,,iv7 ,race or ethnicity1 in a manner that captures all the racial groups specified in the most recent ,american ,community ,survey of the ,bureau of the ,census4 7,v7 ,age intervals4 7,,vi7 ,gender4 7,,vii7 ,program of study 7as applicable74 7,,viii7 ,military or veteran benefit status 7as determined based on receipt of veteran's education benefits1 as defined in section #dhj7;c774 7,,ix7 ,status as a distance education student1 whether exclusively or partially enrolled in distance education4 7,x7 ,federal ,pell ,grant recipient status under section #dja and ,federal loan recipient status under title ,,iv1 provided that the collection of such information complies with paragraph 7#a77;,b74 7,d7 ,other data elements 7i7 ,in general ,the ,commissioner may1 after consultation with the ,advisory ,committee and provision of a public comment period1 include additional data elements in the postsecondary student data system1 such as those described in clause 7ii71 if those data elements-- 7,i7 are necessary to ensure that the postsecondary data system fulfills the purposes described in paragraph 7#a77;,a72 and 7,,ii7 are consistent with data minimization principles1 including the collection of only those additional elements that are necessary to ensure such purposes4 7ii7 ,data elements ,the data elements described in clause 7i7 may include-- 7,i7 status as a first generation college student1 as defined in section #djb;,a7h72 7,,ii7 economic status2 7,,iii7 participation in postsecondary remedial coursework or gateway course completion2 or 7,,iv7 other data elements that are necessary in accordance with clause 7i74 7,e7 ,reevaluation ,not less than once every #c years after the implementation of the postsecondary student data system described in this subsection1 the ,commissioner1 in consultation with the ,advisory ,committee described in subparagraph 7,b71 shall review the data elements included in the postsecondary student data system and may revise the data elements to be included in such system4 7,f7 ,prohibitions ,the ,commissioner shall not include individual health data 7including data relating to physical health or mental health71 student discipline records or data1 elementary and secondary education data1 an exact address1 citizenship status1 migrant status1 or national origin status for students or their families1 course grades1 postsecondary entrance examination results1 political affiliation1 or religion in the postsecondary student data system under this subsection4 7#c7 ,periodic matching with other federal data systems 7,a7 ,data sharing agreements 7i7 ,the ,commissioner shall ensure secure and privacy-protected periodic data matches by entering into data sharing agreements with each of the following ,federal agencies and offices3 7,i7 ,the ,secretary of the ,treasury and the ,commissioner of the ,internal ,revenue ,service1 in order to calculate aggregate program- and institution-level earnings of postsecondary students4 7,,ii7 ,the ,secretary of ,defense1 in order to assess the use of postsecondary educational benefits and the outcomes of servicemembers4 7,,iii7 ,the ,secretary of ,veterans ,affairs1 in order to assess the use of postsecondary educational benefits and outcomes of veterans4 7,,iv7 ,the ,director of the ,bureau of the ,census1 in order to assess the earnings outcomes of former postsecondary education students4 7,v7 ,the ,chief ,operating ,officer of the ,office of ,federal ,student ,aid1 in order to analyze the use of postsecondary educational benefits provided under this ,act4 7,,vi7 ,the ,commissioner of the ,social ,security ,administration1 in order to evaluate labor market outcomes of former postsecondary education students4 7,,vii7 ,the ,commissioner of the ,bureau of ,labor ,statistics1 in order to assess the wages of former postsecondary education students4 7ii7 ,the heads of ,federal agencies and offices described under clause 7i7 shall enter into data sharing agreements with the ,commissioner to ensure secure and privacy-protected periodic data matches as described in this paragraph4 7,b7 ,categories of data ,the ,commissioner shall1 at a minimum1 seek to ensure that the secure and privacy-protected periodic data matches described in subparagraph 7,a7 permit consistent reporting of the following categories of data for all postsecondary students3 7i7 ,enrollment1 retention1 transfer1 and completion outcomes for all postsecondary students4 7ii7 ,financial indicators for postsecondary students receiving ,federal grants and loans1 including grant and loan aid by source1 cumulative student debt1 loan repayment status1 and repayment plan4 7iii7 ,post-completion outcomes for all postsecondary students1 including earnings1 employment1 and further education1 by program of study and credential level and as measured-- 7,i7 immediately after leaving postsecondary education2 and 7,,ii7 at time intervals appropriate to the credential sought and earned4 7,c7 ,periodic data match streamlining and confidentiality 7i7 ,streamlining ,in carrying out the secure and privacy-protected periodic data matches under this paragraph1 the ,commissioner shall-- 7,i7 ensure that such matches are not continuous1 but occur only periodically at appropriate intervals1 as determined by the ,commissioner to meet the goals of subparagraph 7,a72 and 7,,ii7 seek to-- 7aa7 streamline the data collection and reporting requirements for institutions of higher education2 7bb7 minimize duplicative reporting across or within ,federal agencies or departments1 including reporting requirements applicable to institutions of higher education under the ,workforce ,innovation and ,opportunity ,act 7#bi ,u4,s4,c4 #caja et seq47 and the ,carl ,d4 ,perkins ,career and ,technical ,education ,act of #bjjf2 7cc7 protect student privacy2 and 7dd7 streamline the application process for student loan benefit programs available to borrowers based on data available from different ,federal data systems4 7ii7 ,review ,not less often than once every #c years after the establishment of the postsecondary student data system under this subsection1 the ,commissioner1 in consultation with the ,advisory ,committee1 shall review methods for streamlining data collection from institutions of higher education and minimizing duplicative reporting within the ,department and across ,federal agencies that provide data for the postsecondary student data system4 7iii7 ,confidentiality ,the ,commissioner shall ensure that any periodic matching or sharing of data through periodic data system matches established in accordance with this paragraph-- 7,i7 complies with the security and privacy protections described in paragraph 7#a77;,c77iv7 and other ,federal data protection protocols2 7,,ii7 follows industry best practices commensurate with the sensitivity of specific data elements or metrics2 7,,iii7 does not result in the creation of a single standing1 linked ,federal database at the ,department that maintains the information reported across other ,federal agencies2 and 7,,iv7 discloses to postsecondary students what data are included in the data system and periodically matched and how the data are used4 7iv7 ,correction ,the ,commissioner1 in consultation with the ,advisory ,committee1 shall establish a process for students to request access to only their personal information for inspection and request corrections to inaccuracies in a manner that protects the student's personally identifiable information4 ,the ,commissioner shall respond in writing to every request for a correction from a student4 7#d7 ,publicly available information 7,a7 ,in general ,the ,commissioner shall make the summary aggregate information described in subparagraph 7,c71 at a minimum1 publicly available through a user-friendly consumer information website and analytic tool that-- 7i7 provides appropriate mechanisms for users to customize and filter information by institutional and student characteristics2 7ii7 allows users to build summary aggregate reports of information1 including reports that allow comparisons across multiple institutions and programs1 subject to subparagraph 7,b72 7iii7 uses appropriate statistical disclosure limitation techniques necessary to ensure that the data released to the public cannot be used to identify specific individuals2 and 7iv7 provides users with appropriate contextual factors to make comparisons1 which may include national median figures of the summary aggregate information described in subparagraph 7,c74 7,b7 ,no personally identifiable information available ,the summary aggregate information described in this paragraph shall not include personally identifiable information4 7,c7 ,summary aggregate information available ,the summary aggregate information described in this paragraph shall1 at a minimum1 include each of the following for each institution of higher education3 7i7 ,measures of student access1 including-- 7,i7 admissions selectivity and yield2 and 7,,ii7 enrollment1 disaggregated by each category described in paragraph 7#b77;,c77ii74 7ii7 ,measures of student progression1 including retention rates and persistence rates1 disaggregated by each category described in paragraph 7#b77;,c77ii74 7iii7 ,measures of student completion1 including-- 7,i7 transfer rates and completion rates1 disaggregated by each category described in paragraph 7#b77;,c77ii72 and 7,,ii7 number of completions1 disaggregated by each category described in paragraph 7#b77;,c77ii74 7iv7 ,measures of student costs1 including-- 7,i7 tuition1 required fees1 total cost of attendance1 and net price after total grant aid1 disaggregated by in-,state tuition or in-district tuition status 7if applicable71 program of study 7if applicable71 and credential level2 and 7,,ii7 typical grant amounts and loan amounts received by students reported separately from ,federal1 ,state1 local1 and institutional sources1 and cumulative debt1 disaggregated by each category described in paragraph 7#b77;,c77ii7 and completion status4 7v7 ,measures of postcollegiate student outcomes1 including employment rates1 mean and median earnings1 loan repayment and default rates1 and further education rates4 ,these measures shall-- 7,i7 be disaggregated by each category described in paragraph 7#b77;,c77ii7 and completion status2 and 7,,ii7 be measured immediately after leaving postsecondary education and at time intervals appropriate to the credential sought or earned4 7,d7 ,development criteria ,in developing the method and format of making the information described in this paragraph publicly available1 the ,commissioner shall-- 7i7 focus on the needs of the users of the information1 which will include students1 families of students1 potential students1 researchers1 and other consumers of education data2 7ii7 take into consideration1 to the extent practicable1 the guidelines described in paragraph 7#a77;,c77ii77,i71 and relevant successor documents or recommendations of such guidelines2 7iii7 use modern1 relevant technology and enhance and update the postsecondary student data system with information1 as necessary to carry out the purpose of this paragraph2 7iv7 ensure data privacy and security in accordance with standards and guidelines developed by the ,national ,institute of ,standards and ,technology1 and in accordance with any other ,federal law relating to privacy or security1 including complying with the requirements of subchapter ,,ii of chapter #ce of title #dd1 ,united ,states ,code1 specifying security categorization under the ,federal ,information ,processing ,standards1 and security requirements1 and setting of ,national ,institute of ,standards and ,technology security baseline controls at the appropriate level2 and 7v7 conduct consumer testing to determine how to make the information as meaningful to users as possible4 7#e7 ,permissible disclosures of data 7,a7 ,data reports and queries 7i7 ,in general ,not later than #d years after the date of enactment of the ,lowering ,education ,costs and ,debt ,act1 the ,commissioner shall develop and implement a secure and privacy-protected process for making student-level1 non-personally identifiable information1 with direct identifiers removed1 from the postsecondary student data system available for vetted research and evaluation purposes approved by the ,commissioner in a manner compatible with practices for disclosing ,national ,center for ,education ,statistics restricted-use survey data as in effect on the day before the date of enactment of the ,lowering ,education ,costs and ,debt ,act1 or by applying other research and disclosure restrictions to ensure data privacy and security4 ,such process shall be approved by the ,national ,center for ,education ,statistics' ,disclosure ,review ,board 7or successor body74 7ii7 ,providing data reports and queries to institutions and states 7,i7 ,in general ,the ,commissioner shall provide feedback reports1 at least annually1 to each institution of higher education1 each postsecondary education system that fully participates in the postsecondary student data system1 and each ,state higher education body as designated by the governor4 7,,ii7 ,feedback reports ,the feedback reports provided under this clause shall include program-level and institution-level information from the postsecondary student data system regarding students who are associated with the institution or1 for ,state representatives1 the institutions within that ,state1 on or before the date of the report1 on measures including student mobility and workforce outcomes1 provided that the feedback aggregate summary reports protect the privacy of individuals4 7,,iii7 ,determination of content ,the content of the feedback reports shall be determined by the ,commissioner in consultation with the ,advisory ,committee4 7iii7 ,permitting state data queries ,the ,commissioner shall1 in consultation with the ,advisory ,committee and as soon as practicable1 create a process through which ,states may submit lists of secondary school graduates within the ,state to receive summary aggregate outcomes for those students who enrolled at an institution of higher education1 including postsecondary enrollment and college completion1 provided that those data protect the privacy of individuals and that the ,state data submitted to the ,commissioner are not stored in the postsecondary education system4 7iv7 ,regulations ,the ,commissioner shall promulgate regulations to ensure fair1 secure and privacy-protected1 and equitable access to data reports and queries under this paragraph4 7,b7 ,disclosure limitations ,in carrying out the public reporting and disclosure requirements of this subsection1 the ,commissioner shall use appropriate statistical disclosure limitation techniques necessary to ensure that the data released to the public cannot include personally identifiable information or be used to identify specific individuals4 7,c7 ,sale of data prohibited ,data collected under this subsection1 including the public-use data set and data comprising the summary aggregate information available under paragraph 7#d71 shall not be sold to any third party by the ,commissioner1 including any institution of higher education or any other entity4 7,d7 ,limitation on use by other federal agencies 7i7 ,in general ,the ,commissioner shall not allow any other ,federal agency to use data collected under this subsection for any purpose except-- 7,i7 for vetted research and evaluation conducted by the other ,federal agency1 as described in subparagraph 7,a77i72 or 7,,ii7 for a purpose explicitly authorized by this ,act4 7ii7 ,prohibition on limitation of services ,the ,secretary1 or the head of any other ,federal agency1 shall not use data collected under this subsection to limit services to students4 7,e7 ,law enforcement ,personally identifiable information collected under this subsection shall not be used for any ,federal1 ,state1 or local law enforcement activity or any other activity that would result in adverse action against any student or a student's family1 including debt collection activity or enforcement of immigration laws4 7,f7 ,limitation of use for federal rankings or summative rating system ,the comprehensive data collection and analysis necessary for the postsecondary student data system under this subsection shall not be used by the ,secretary or any ,federal entity to establish any ,federal ranking system of institutions of higher education or a system that results in a summative ,federal rating of institutions of higher education4 7,g7 ,rule of construction ,nothing in this paragraph shall be construed to prevent the use of individual categories of aggregate information to be used for accountability purposes4 7,h7 ,rule of construction regarding commercial use of data ,nothing in this paragraph shall be construed to prohibit third-party entities from using publicly available information in this data system for commercial use4 7#f7 ,submission of data 7,a7 ,required submission ,each institution of higher education participating in a program under title ,,iv1 or the assigned agent of such institution1 shall1 for each eligible program1 in accordance with section #dhg7;a77#ag71 collect1 and submit to the ,commissioner1 the data requested by the ,commissioner to carry out this subsection4 7,b7 ,voluntary submission ,any institution of higher education not participating in a program under title ,,iv may voluntarily participate in the postsecondary student data system under this subsection by collecting and submitting data to the ,commissioner1 as the ,commissioner may request to carry out this subsection4 7,c7 ,personally identifiable information ,in accordance with paragraph 7#b77;,c77i71 if the submission of an element of student-level data is prohibited under paragraph 7#b77;,f7 7or otherwise prohibited by law71 the institution of higher education shall submit that data to the ,commissioner in the aggregate4 7#g7 ,unlawful willful disclosure 7,a7 ,in general ,it shall be unlawful for any person who obtains or has access to personally identifiable information in connection with the postsecondary student data system described in this subsection to willfully disclose to any person 7except as authorized in this ,act or by any ,federal law7 such personally identifiable information4 7,b7 ,penalty ,any person who violates subparagraph 7,a7 shall be subject to a penalty described under section #cegb7;f7 of title #dd1 ,united ,states ,code1 and section #ahc7;d77#f7 of the ,education ,sciences ,reform ,act of #bjjb 7#bj ,u4,s4,c4 #iegc7;d77#f774 7,c7 ,employee of officer of the united states ,if a violation of subparagraph 7,a7 is committed by any officer or employee of the ,united ,states1 the officer or employee shall be dismissed from office or discharged from employment upon conviction for the violation4 7#h7 ,data security ,the ,commissioner shall produce and update as needed guidance and regulations relating to privacy1 security1 and access which shall govern the use and disclosure of data collected in connection with the activities authorized in this subsection4 ,the guidance and regulations developed and reviewed shall protect data from unauthorized access1 use1 and disclosure1 and shall include-- 7,a7 an audit capability1 including mandatory and regularly conducted audits2 7,b7 access controls2 7,c7 requirements to ensure sufficient data security1 quality1 validity1 and reliability2 7,d7 confidentiality protection in accordance with the applicable provisions of subchapter ,,iii of chapter #ce of title #dd1 ,united ,states ,code2 7,e7 appropriate and applicable privacy and security protection1 including data retention and destruction protocols and data minimization1 in accordance with the most recent ,federal standards developed by the ,national ,institute of ,standards and ,technology2 and 7,f7 protocols for managing a breach1 including breach notifications1 in accordance with the standards of ,national ,center for ,education ,statistics4 7#i7 ,data collection ,the ,commissioner shall ensure that data collection1 maintenance1 and use under this subsection complies with section #eeb;a of title #e1 ,united ,states ,code4 7#aj7 ,definitions ,in this subsection3 7,a7 ,institution of higher education ,the term institution of higher education has the meaning given the term in section #ajb4 7,b7 ,minority-serving institution ,the term minority-serving institution means an institution of higher education listed in section #cga7;a74 7,c7 ,personally identifiable information ,the term personally identifiable information means personally identifiable information within the meaning of section #ddd of the ,general ,education ,provisions ,act4 4 #ajb4 ,repeal of prohibition on student data system ,section #acd of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4 #ajae;c7 is repealed4 #ajc4 ,institutional requirements 7a7 ,in general ,paragraph 7#ag7 of section #dhg7;a7 of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4 #ajid7;a77 is amended to read as follows3 7#ag7 ,the institution or the assigned agent of the institution will collect and submit data to the ,commissioner for ,education ,statistics in accordance with section #acb7l71 the nonstudent related surveys within the ,integrated ,postsecondary ,education ,data ,system 7,,ipeds71 or any other ,federal institution of higher education data collection effort 7as designated by the ,secretary71 in a timely manner and to the satisfaction of the ,secretary4 4 7b7 ,effective date ,the amendment made by subsection 7a7 shall take effect on the date that is #d years after the date of enactment of this ,act4 #ajd4 ,transition provisions ,the ,secretary of ,education and the ,commissioner for ,education ,statistics shall take such steps as are necessary to ensure that the development and maintenance of the postsecondary student data system required under section #acb7l7 of the ,higher ,education ,act of #aife1 as added by section #aja of this ,act1 occurs in a manner that reduces the reporting burden for entities that reported into the ,integrated ,postsecondary ,education ,data ,system 7,,ipeds74 ,,ii ,understanding the true cost of college #bja4 ,institution ,financial ,aid ,offer ,form ,section #dhd of the ,higher ,education ,opportunity ,act 7#bj ,u4,s4,c4 #ajib note7 is amended to read as follows3 #dhd4 ,institution ,financial ,aid ,offer ,form 7a7 ,standard format and terminology ,the ,secretary of ,education1 in consultation with the heads of relevant ,federal agencies1 shall develop standard terminology and a standard format for financial aid offer forms based on recommendations from representatives of students1 veterans1 servicemembers1 students' families1 institutions of higher education 7including community colleges1 for-profit institutions1 four-year public institutions1 and four-year private nonprofit institutions71 financial aid experts1 secondary school and postsecondary counselors1 nonprofit organizations1 and consumer groups4 7b7 ,key required contents for offer form ,the standard format developed under subsection 7a7 shall include1 in a consumer-friendly manner that is simple and understandable1 a form titled ,financial ,aid ,offer1 which shall include the following items1 with costs listed first followed by grants and scholarships1 clearly separated from each other with separate headings3 7#a7 ,cost information 7,a7 ,information on the student's estimated cost of attendance1 including the following3 7i7 ,total direct costs1 including the component totals each for-- 7,i7 tuition and fees1 as determined under section #dgb of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4 #ajhgll72 and 7,,ii7 college-sponsored housing and food costs 7as determined based on the costs for room and board under such section74 7ii7 ,total estimated other expenses1 including-- 7,i7 the component totals each for housing and food costs for students who reside off-campus2 and 7,,ii7 for all students1 books1 supplies1 transportation1 and miscellaneous personal expenses 7which may include costs of health insurance and dependent care71 as determined under section #dgb of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4 #ajhgll74 7,b7 ,an indication of the academic period covered by the financial aid offer1 and an explanation that the financial aid offered may change for academic periods not covered by the aid offer or by program4 7,c7 ,an indication of whether cost and aid estimates are based on full-time or part-time enrollment4 7,d7 ,an indication1 as applicable1 about whether the tuition and fees are estimated based on the previous year1 or are set1 for the academic period indicated in accordance with subparagraph 7,b74 7#b7 ,grants and scholarships ,the aggregate amount of grants and scholarships by source that the student does not have to repay1 such as grant aid offered under title ,,iv of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4 #ajgj et seq47 and grant aid offered through other ,federal programs1 grant aid offered by the institution1 grant aid offered by the ,state1 and1 if known1 grant aid from an outside source to the student for such academic period1 including-- 7,a7 a disclosure that the grants and scholarships do not have to be repaid2 and 7,b7 if institutional aid is included-- 7i7 the conditions under which the student can expect to receive similar amounts of such financial aid for each academic period the student is enrolled at the institution2 and 7ii7 whether the institutional aid offer may change if grants or scholarships from outside sources are applied after the student receives the offer form1 and1 if applicable1 how that aid will change4 7#c7 ,net price 7,a7 ,the net price that the student1 or the student's family on behalf of the student1 is estimated to have to pay for the student to attend the institution for such academic period1 equal to-- 7i7 the cost of attendance as described in paragraph 7#a77;,a7 for the student for the period indicated in paragraph 7#a77;,b72 minus 7ii7 the amount of grant aid described in paragraph 7#b7 that is included in the financial aid offer form4 7,b7 ,a disclosure that the net price is an estimate of the total expenses for the year and not equivalent to the amount the student will owe directly to the institution4 7#d7 ,loans 7,a7 ,information on any loan under part ,d or part ,e of title ,,iv of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4 #ajhg;a et seq42 #bj ,u4,s4,c4 #ajhg;aa et seq47 7except a ,federal ,direct ,,plus ,loan under part ,d of that ,act7 that the institution recommends for the student for the academic period covered by the offer1 which shall be made-- 7i7 with clear use of the word loan to describe the recommended loan amounts2 and 7ii7 with clear labeling of subsidized and unsubsidized loans4 7,b7 ,a disclosure that such loans have to be repaid and a disclosure that the student can borrow a lesser or1 if applicable1 greater amount than the recommended loan amount4 7,c7 ,a disclosure that the interest rates and fees on such loans are set annually and affect total cost over time1 and a link to a ,department of ,education website that includes current information on interest rates and fees4 7,d7 ,a link to the ,department of ,education's repayment calculator website for students with instruction that this website contains customizable estimates of expected repayment costs under different loan repayment plans4 7#e7 ,process for accepting or declining aid and next steps 7,a7 ,the deadlines and a summary of the process 7including the next steps7 for-- 7i7 accepting the financial aid offered in the financial aid offer form2 7ii7 requesting higher loan amounts if recommended loan amounts were included2 and 7iii7 declining aid offered in the form4 7,b7 ,information on when and how direct costs to the institution must be paid4 7,c7 ,a disclosure that verification of financial circumstances may require the student to submit further documentation4 7,d7 ,information about where a student or the student's family can seek additional information regarding the financial aid offered1 including contact information for the institution's financial aid office and the ,department of ,education's website on financial aid4 7#f7 ,additional information ,any other information the ,secretary of ,education1 in consultation with the heads of relevant ,federal agencies1 including the ,secretary of the ,treasury and the ,director of the ,bureau of ,consumer ,financial ,protection1 determines necessary 7based on the results of the consumer testing under paragraph 7g77#b77 so that students and parents can make informed loan borrowing decisions1 which may include-- 7,a7 the most recent cohort default rate1 as defined in section #dce7m7 of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4 #ajhe7m77 with respect to an institution where more than #cj percent of enrolled students borrow loans to pay for their education1 and a comparison to the national average cohort default rate2 7,b7 the percentage of students at the institution who borrow student loans2 7,c7 the median loan debt at graduation for students at the institution 7clearly marked as including only ,federal loans if private loan data are not available to be included72 and 7,d7 any additional calculations determined necessary for ensuring that students understand full college costs1 financial aid gaps1 and options for covering those gaps4 7c7 ,other required contents for the offer form ,the standard form developed under subsection 7a7 shall include1 in addition to the information described in subsection 7b71 the following information to be included on the financial aid offer form in a concise format determined by the ,secretary of ,education1 in consultation with the heads of relevant ,federal agencies3 7#a7 ,at the institution's discretion-- 7,a7 additional options and potential resources for paying for the amount listed in subsection 7b77#c71 such as tuition payment plans2 and 7,b7 a disclosure that ,federal ,direct ,,plus ,loans or private education loans may be available to cover remaining need1 except that the institution may not include an amount for ,federal ,direct ,,plus ,loans or private education loans and must include a disclosure for ,federal ,direct ,,plus ,loans that such loans are subject to an additional application process1 and a disclosure that both types of loans have to be repaid by the borrower1 and may not be eligible for all the benefits available for ,federal ,direct ,stafford ,loans or ,federal ,direct ,unsubsidized ,stafford ,loans4 7#b7 ,the following information relating to private student loans3 7,a7 ,a statement that students considering borrowing to cover the cost of attendance should consider available ,federal student loans prior to applying for private education loans1 including an explanation that ,federal student loans offer generally more favorable terms and beneficial repayment options than private loans4 7,b7 ,the impact of a proposed private education loan on the student's potential eligibility for other financial assistance1 including ,federal financial assistance under title ,,iv of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4 #ajgj et seq474 7,c7 ,a statement explaining the student's ability to select a private educational lender of the student's choice4 7#c7 ,information on work-study employment opportunities1 offered in accordance with part ,c of title ,,iv of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4 #ajhg-ea et seq47 including a disclosure that the work-study aid offered is subject to the availability of qualified employment opportunities and is disbursed over time as earned by the student4 ,work-study employment opportunities 7or a student's potential income based on those opportunities7 shall not be included in the category of financial aid described under subsection 7b77#b74 7d7 ,additional requirements for financial aid offer form ,the financial aid offer form shall meet the following requirements3 7#a7 ,include1 in addition to the requirements described in subsections 7b7 and 7c71 a concise summary1 in plain language1 of-- 7,a7 the terms and conditions of financial aid recommended under paragraphs 7#b7 and 7#d7 of subsection 7b7 and subsection 7c77#c71 and a method to provide students with additional information about such terms and conditions1 such as links to the supplementary information2 and 7,b7 ,federal1 ,state1 or institutional conditions required to receive and renew financial aid and a method to provide students with additional information about these conditions1 such as links to the supplementary information4 7#b7 ,clearly distinguish between the aid offered under paragraphs 7#b7 and 7#d7 of subsection 7b7 and subsection 7c77#c71 by including a subtotal for the aid offered in each of such paragraphs and by refraining from commingling the different types of aid described in such paragraphs4 7#c7 ,use standard terminology and definitions1 as described in subsection 7e77#a7 and use plain language where possible4 7#d7 ,if an institution's recommended ,federal student loan aid offered in subsection 7b77#d7 is less than the ,federal maximum available to the student1 the institution shall provide additional information on ,federal student loans1 including the types and amounts for which the student is eligible in an attached document or web page4 7#e7 ,use the standard offer form described in subsection 7e77#b74 7#f7 ,include the standardized statement regarding the possible availability of ,federal education benefits1 as established by the ,secretary in accordance with subsection 7e77#c74 7#g7 ,include a delivery confirmation for electronic financial aid offer forms1 except that receipt of the financial aid offer form shall not be considered an acceptance or rejection of aid by the student4 7#h7 ,with respect to dependent students1 any reference to private education loans shall be accompanied by-- 7,a7 information about the availability of1 and terms and conditions associated with1 ,federal ,direct ,,plus ,loans under section #dee of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4 #ajhg;e7 for the student's parents regardless of family income2 and 7,b7 a notification of the student's increased eligibility for ,federal student loans under title ,,iv of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4 #ajgj et seq47 if the student's parents are not able to borrow under the ,federal ,direct ,,plus ,loan program4 7e7 ,standard information established by the ,secretary 7#a7 ,standard terminology ,not later than #c months after the date of enactment of the ,lowering ,education ,costs and ,debt ,act1 the ,secretary of ,education1 in consultation with the heads of relevant ,federal agencies1 including the ,secretary of the ,treasury and the ,director of the ,consumer ,financial ,protection ,bureau1 representatives of institutions of higher education1 nonprofit consumer groups1 students1 and secondary school and higher education guidance counselors1 shall establish standard terminology and definitions for the terms described in subsection 7b74 7#b7 ,standard form 7,a7 ,in general ,the ,secretary of ,education shall develop multiple draft financial aid offer forms for consumer testing1 carry out consumer testing for such forms1 and establish a finalized standard financial aid offer form1 in accordance with the process established in subsection 7g7 and the requirements of this section4 7,b7 ,separate financial aid offer forms ,the ,secretary may develop separate financial aid offer forms for-- 7i7 undergraduate students and graduate students2 and 7ii7 first-time students and returning students4 7#c7 ,additional benefits ,the ,secretary of ,education1 in consultation with the heads of relevant ,federal agencies1 including the ,secretary of the ,treasury1 the ,secretary of ,veterans ,affairs1 the ,secretary of ,defense1 and the ,director of the ,consumer ,financial ,protection ,bureau1 shall establish standard language notifying students that they may be eligible for education benefits 7and where students can locate more information about such benefits7 including benefits in accordance with each of the following3 7,a7 ,chapter #cj1 #ca1 #cb1 #cc1 #cd1 or #ce of title #ch1 ,united ,states ,code4 7,b7 ,chapter #aja1 #aje1 #ajf;,a1 #afjf1 #afjg1 or #afjh of title #aj1 ,united ,states ,code4 7,c7 ,section #aghd;a1 #bjje1 or #bjjg of title #aj1 ,united ,states ,code4 7f7 ,supplemental information2 removal of information 7#a7 ,nothing in this section shall preclude an institution from supplementing the financial aid offer form with additional information if such additional information supplements the financial aid offer form and is not located on the financial aid offer form1 and provided such information utilizes the same standard terminology identified in subsection 7e77#a74 7#b7 ,nothing in this section shall preclude an institution from deleting a required item if the student is ineligible for such aid4 7g7 ,development of financial aid offer form 7#a7 ,draft form ,not later than #i months after the date of enactment of the ,lowering ,education ,costs and ,debt ,act1 the ,secretary of ,education1 in consultation with the heads of relevant ,federal agencies1 including the ,secretary of the ,treasury and the ,director of the ,consumer ,financial ,protection ,bureau1 representatives of institutions of higher education1 nonprofit consumer groups1 students1 and secondary school and higher education guidance counselors1 shall design and produce multiple draft financial aid offer forms for consumer testing with postsecondary students or prospective students4 ,in developing that form1 the ,secretary shall ensure-- 7,a7 that the headings described in paragraphs 7#a7 through 7#d7 of subsection 7b7 are in the same font1 appear in the same order1 and are displayed prominently on the financial aid offer form1 such that none of that information is inappropriately omitted or de-emphasized2 7,b7 that the other information required in subsection 7b7 appears in a standard format and design on the financial aid offer form2 and 7,c7 that the institution may include a logo or brand alongside the title of the financial aid offer form4 7#b7 ,consumer testing 7,a7 ,in general ,not later than #i months after the date of enactment of the ,lowering ,education ,costs and ,debt ,act1 the ,secretary of ,education1 in consultation with the heads of relevant ,federal agencies1 shall establish a process to submit the financial aid offer form drafts developed under paragraph 7#a7 for consumer testing among representatives of students 7including low-income students1 first generation college students1 adult students1 veterans1 servicemembers1 and prospective students71 students' families 7including low-income families1 families with first generation college students1 and families with prospective students71 institutions of higher education1 secondary school and postsecondary counselors1 and nonprofit consumer groups4 7,b7 ,pilot ,during such consumer testing1 the ,secretary shall ensure that not less than #af and not more than #bd eligible institutions use the draft forms developed under paragraph 7#a71 including institutions-- 7i7 that reflect a proportionate representation 7based on the total number of students enrolled in postsecondary education7 of community colleges1 for-profit institutions1 four-year public institutions1 and four-year private nonprofit institutions2 and 7ii7 that reflect geographic diversity4 7,c7 ,length of consumer testing ,the ,secretary of ,education shall ensure that the consumer testing under this paragraph lasts no longer than #h months after the process for consumer testing is developed under subparagraph 7,a74 7#c7 ,final form 7,a7 ,in general ,the results of consumer testing under paragraph 7#b7 shall be used in the final development of the financial aid offer form4 7,b7 ,reporting requirement ,not later than #c months after the date the consumer testing under paragraph 7#b7 concludes1 the ,secretary of ,education shall submit to ,congress and publish on its website the final standard financial aid offer form and a report detailing the results of such testing1 including whether the ,secretary of ,education added any additional items to the standard financial aid offer form pursuant to subsection 7b77#f74 7#d7 ,authority to modify ,the ,secretary of ,education may modify the definitions1 terms1 formatting1 and design of the financial aid offer form based on the results of consumer testing required under this subsection and before finalizing the form1 or in subsequent consumer testing4 ,the ,secretary may also recommend additional changes to ,congress4 4 #bjb4 ,mandatory form ,part ,b of title ,i of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4 #ajaa et seq47 is amended by adding at the end the following3 #abd4 ,use of mandatory financial aid offer form and terms 7a7 ,in general ,notwithstanding any other provision of law1 each institution of higher education that receives ,federal financial assistance under this ,act shall-- 7#a7 use the financial aid offer form developed under section #dhd of the ,higher ,education ,opportunity ,act 7#bj ,u4,s4,c4 #ajib note7 in providing paper1 mobile-optimized offers1 or other electronic offers to all students who apply for aid and are accepted at the institution2 and 7#b7 use the standard terminology and definitions developed by the ,secretary of ,education under subsection 7e77#a7 of that ,act for all communications from the institution related to financial aid offers4 7b7 ,effective dates ,the requirements under this section shall take effect at the start of the first award year after the ,secretary of ,education finalizes the standard terminology and form developed in accordance with section #dhd of the ,higher ,education ,opportunity ,act 7#bj ,u4,s4,c4 #ajib note74 4 7c7 ,administrative procedures ,section #dib of the ,higher ,education ,act 7#bj ,u4,s4,c4 #ajih;a7 shall not apply with respect to regulations promulgated in accordance with this section4 4 ,,iii ,informed student borrowing #cja4 ,counseling and financial aid disclosures ,section #dhe7l7 of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4 #ajib7l77 is amended-- 7#a7 in the subsection heading1 by striking ,entrance2 7#b7 in paragraph 7#a77;,a7-- 7,a7 in the matter preceding clause 7i71 by striking a disbursement to a first-time borrower and inserting the first disbursement to a borrower in each award year2 and 7,b7 in the matter preceding subclause 7,i7 of paragraph clause 7ii71 by striking may and inserting shall2 7#c7 in paragraph 7#b7-- 7,a7 by redesignating subparagraphs 7,a7 through 7,k7 as subparagraphs 7,b7 through 7,l72 7,b7 by inserting before subparagraph 7,b71 as so redesignated1 the following3 7,a7 ,an explanation that the borrower will need to affirmatively determine and manually enter1 in accordance with subsection 7n71 the ,federal loan amount that the borrower will borrow 7which may be equal to or less than the ,federal loan amount for which the borrower is eligible7 for each award year4 2 7,c7 by striking subparagraph 7,g7 and inserting the following3 7,g7 ,sample monthly repayment amounts1 under a standard repayment plan and under the income-driven repayment plan that had the highest enrollment in the previous year for borrowers 7excluding parent borrowers71 based on-- 7i7 7,i7 the median levels of indebtedness1 as appropriate1 of-- 7aa7 undergraduate borrowers of ,federal ,direct ,stafford ,loans or ,federal ,unsubsidized ,stafford ,loans who were enrolled in the institution2 7bb7 graduate borrowers of ,federal ,direct ,stafford ,loans1 ,federal ,unsubsidized ,stafford ,loans1 or ,federal ,direct ,plus ,loans who were enrolled in the institution2 and 7cc7 parent borrowers of ,federal ,direct ,plus ,loans made on behalf of dependent students who were enrolled at the institution2 7,,ii7 the median cumulative indebtedness of borrowers of loans described in subclause 7,i7 in the same program as the borrower at the same institution2 and 7ii7 the median annual earnings for individuals who attended the institution1 as described in subparagraph 7,n74 2 and 7,d7 by adding at the end the following3 7,m7 ,a statement that the borrower does not have to accept the full amount of loans for which the borrower is eligible1 and an explanation that loan eligibility calculations are determined based on a cost of attendance that may include expenses such as housing1 food1 and transportation4 7,n7 ,the most recent ,college ,scorecard information 7or information from a similar successor website7 that shows the median annual earnings of students who received ,federal student aid and who are no longer enrolled at the institution and are working1 at the time that is #aj years after the date of such students' entry to the institution-- 7i7 for individuals who were enrolled in the institution2 and 7ii7 if available through the ,college ,scorecard 7or similar successor website71 for individuals who were enrolled in the borrower's undergraduate or graduate program4 7,o7 ,the percentage of borrowers who attended the institution and have completed or are no longer enrolled that are in active repayment 7as compared to all borrowers who attended the institution and have completed or are no longer enrolled74 7,p7 ,for undergraduate borrowers1 the completion rate of the institution1 as available through the ,college ,scorecard 7or similar successor website71 for the most recent year for which data are available4 7,q7 ,a statement that-- 7i7 the statistics provided under this paragraph are averages and median values based on past years2 7ii7 the borrower's repayment amounts1 median earnings1 and likelihood of completion may vary from such statistics2 and 7iii7 as appropriate1 parent borrowers should be aware that information about the median earnings1 completion rate1 and percentage of borrowers in active repayment is based on data that excludes parent borrowers4 7,r7 ,a statement in writing and in a form the borrower may keep1 of the annual percentage rate applicable to the loan based on a #aj-year standard repayment plan1 taking into account-- 7i7 the amount of the loan2 7ii7 the stated interest rate of the loan2 7iii7 the standard term for a loan of the same type2 7iv7 any fees or additional costs associated with the loan2 and 7v7 any capitalization of interest on the loan4 2 and 7#d7 by adding at the end the following3 7#c7 ,information from the ,department of ,education ,the ,secretary shall provide institutions with the data and statistics necessary to enable institutions to carry out this subsection4 4 #cjb4 ,annual requirement to manually enter loan amount ,section #dhe of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4 #ajib71 as amended by section #cja1 is further amended by adding at the end the following3 7n7 ,annual requirement ,to manually enter loan amount 7#a7 ,in general ,in addition to the other requirements of this section and in accordance with paragraph 7#b71 each eligible institution shall ensure that1 for each award year1 each borrower enrolled in the institution who receives a ,federal ,direct ,loan 7other than a ,federal ,direct ,consolidation ,loan7 and each parent borrower who is borrowing a ,federal ,direct ,,plus ,loan made on behalf of a student who is enrolled in the institution1 for such year1 shall manually enter1 either in writing or through electronic means1 the exact dollar amount of ,federal ,direct ,loan funding that such borrower desires to borrow for such year4 7#b7 ,method ,the eligible institution shall ensure that the borrower carries out the activity described in paragraph 7#a7-- 7,a7 in the case of a student borrower1 in the course of the process used by the institution for students to accept a student loan award2 7,b7 prior to the institution certifying a ,federal ,direct ,loan 7other than a ,federal ,direct ,consolidation ,loan71 including a ,federal ,direct ,,plus ,loan made on behalf of a student1 for disbursement to a borrower2 and 7,c7 in the case of a student borrower1 after ensuring that the student has completed all of the counseling requirements under subsection 7l74 4 #cjc4 ,work study ,section #dhe of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4 #ajib71 as amended by sections #cja and #cjb1 is further amended by adding at the end the following3 7o7 ,work study ,if an institution provides a student or a prospective student with a financial aid award notification that includes work study1 the institution shall ensure that the notification includes an explanation that any work study funds are not directly awarded to the student or institution1 and such amounts must be earned through the student's completion of work over time4 4 ,,iv ,streamlining ,accountability and ,value in ,education for ,students #dja4 ,loan repayment simplification and income-driven repayment reform ,section #dee of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4 #ajhg;e7 is amended-- 7#a7 in subsection 7d7-- 7,a7 in paragraph 7#a7-- 7i7 in subparagraph 7,b71 by inserting not later than ,june #cj1 #bjbd1 before a graduated2 7ii7 in subparagraph 7,c71 by inserting not later than ,june #cj1 #bjbd1 before an extended2 7iii7 in subparagraph 7,d7-- 7,i7 by inserting not later than ,june #cj1 #bjbd1 before an income contingent2 and 7,,ii7 by striking and after the semicolon2 7iv7 in subparagraph 7,e7-- 7,i7 by inserting and not later than ,june #cj1 #bjbd1 after beginning on ,july #a1 #bjji12 and 7,,ii7 by striking the period at the end and inserting 2 and2 and 7v7 by adding at the end the following3 7,f7 beginning on ,july #a1 #bjbd1 an income contingent repayment plan known as the ,revised ,pay ,as ,you ,earn ,repayment plan1 consistent with subsection 7e77#i74 2 7,b7 in paragraph 7#b71 by striking in subparagraph 7,a71 7,b71 or 7,c7 of paragraph 7#a7 and inserting in subparagraph 7,a7 or 7,f7 of paragraph 7#a72 and 7,c7 in paragraph 7#d71 by inserting not later than ,june #cj1 #bjbd1 and after ,the ,secretary may provide12 and 7#b7 in subsection 7e71 by adding at the end the following3 7#i7 ,revised ,pay ,as ,you ,earn ,repayment plan 7,a7 ,in general ,the ,secretary shall carry out a ,revised ,pay ,as ,you ,earn ,repayment plan in accordance with section #fhe4bji7;c7 of title #cd1 ,code of ,federal ,regulations1 as in effect on ,december #ag1 #bjae1 except as otherwise provided in this paragraph as follows3 7i7 ,a borrower may complete loan rehabilitation on a defaulted loan through making eligible payments in accordance with this paragraph for #i consecutive months4 7ii7 ,a borrower who no longer wishes to repay under the ,revised ,pay ,as ,you ,earn ,repayment plan may change only to a standard repayment plan4 7iii7 ,in addition to that provided under paragraph 7#e77;iv7 of such section #fhe4bji7;c71 a qualifying monthly payment may also include a month for which the borrower received-- 7,i7 deferment under subsection 7f77#c7 due to receiving treatment for cancer2 7,,ii7 deferment under subsection 7f77#b7 for rehabilitation training2 7,,iii7 deferment under subsection 7f77#b7 for unemployment2 7,,iv7 deferment under subsection 7f77#b7 for economic hardship1 including any period of deferment for ,peace ,corps service2 7,v7 deferment under subsection 7f77#b7 for military service2 7,,vi7 deferment under subsection 7f77#b7 for post-active duty service2 7,,vii7 forbearance under section #dbh7;c77#c77;,a77i77,,iii71 for national service2 7,,viii7 forbearance under section #fhe4bje7;a77#g7 of title #cd1 ,code of ,federal ,regulations1 for ,national ,guard ,duty2 7,,ix7 forbearance under section #dbh7;c77#c77;,a77i77,,iv71 for service for which the borrower would qualify for a partial repayment of his or her loan under the ,student ,loan ,repayment ,programs administered by the ,department of ,defense2 or 7,x7 administrative forbearance under paragraph 7#h7 or 7#i7 of section #fhe4bje7;b7 of title #cd1 ,code of ,federal ,regulations4 7iv7 ,a borrower shall be automatically enrolled in a ,revised ,pay ,as ,you ,earn ,repayment plan for a loan at #ge days delinquent on such loan4 7v7 ,a borrower who missed qualifying payments during a forbearance or deferment period not listed in clause 7iii71 shall have the opportunity to provide a back payment for the missed payments in order have those payments counted toward the #bj-year or #be-year forgiveness period1 except there shall be no opportunity to provide a back payment for periods of in-school deferment4 7vi7 ,for a borrower who is solely an undergraduate borrower-- 7,i7 who has borrowed #aj1jjj or less in total in loans under this part1 not including loan fees1 the ,secretary may determine that the borrower has met the loan forgiveness requirements after #abj payments under the ,revised ,pay ,as ,you ,earn ,repayment plan2 7,,ii7 who has borrowed more than #aj1jjj but #aa1jjj or less in total in loans under this part1 not including loan fees1 the ,secretary may determine that the borrower has met the loan forgiveness requirements after #acb payments under the ,revised ,pay ,as ,you ,earn ,repayment plan2 7,,iii7 who has borrowed more than #aa1jjj but #ab1jjj or less in total in loans under this part1 not including loan fees1 the ,secretary may determine that the borrower has met the loan forgiveness requirements after #add payments under the ,revised ,pay ,as ,you ,earn ,repayment plan2 7,,iv7 who has borrowed more than #ab1jjj but #ac1jjj or less in total in loans under this part1 not including loan fees1 the ,secretary may determine that the borrower has met the loan forgiveness requirements after #aef payments under the ,revised ,pay ,as ,you ,earn ,repayment plan2 7,v7 who has borrowed more than #ac1jjj but #ad1jjj or less in total in loans under this part1 not including loan fees1 the ,secretary may determine that the borrower has met the loan forgiveness requirements after #afh payments under the ,revised ,pay ,as ,you ,earn ,repayment plan2 7,,vi7 who has borrowed more than #ad1jjj but #ae1jjj or less in total in loans under this part1 not including loan fees1 the ,secretary may determine that the borrower has met the loan forgiveness requirements after #ahj payments under the ,revised ,pay ,as ,you ,earn ,repayment plan2 7,,vii7 who has borrowed more than #ae1jjj but #af1jjj or less in total in loans under this part1 not including loan fees1 the ,secretary may determine that the borrower has met the loan forgiveness requirements after #aib payments under the ,revised ,pay ,as ,you ,earn ,repayment plan2 7,,viii7 who has borrowed more than #af1jjj but #ag1jjj or less in total in loans under this part1 not including loan fees1 the ,secretary may determine that the borrower has met the loan forgiveness requirements after #bjd payments under the ,revised ,pay ,as ,you ,earn ,repayment plan2 7,,ix7 who has borrowed more than #ag1jjj but #ah1jjj or less in total in loans under this part1 not including loan fees1 the ,secretary may determine that the borrower has met the loan forgiveness requirements after #baf payments under the ,revised ,pay ,as ,you ,earn ,repayment plan2 and 7,x7 who has borrowed more than #ah1jjj but #ai1jjj or less in total in loans under this part1 not including loan fees1 the ,secretary may determine that the borrower has met the loan forgiveness requirements after #bbh payments under the ,revised ,pay ,as ,you ,earn ,repayment plan4 7,b7 ,transfer of borrowers in repayment ,notwithstanding any other provision of this ,act1 on ,july #a1 #bjbd1 the ,secretary shall transfer each borrower who is in repayment on a loan made under this part under an income contingent repayment plan pursuant to subsection 7d77#a77;,d7 to the ,revised ,pay ,as ,you ,earn ,repayment plan under this paragraph4 4 #djb4 ,taxpayer and consumer protection on student loans ,section #dhg7;a7 of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4 #ajid7;a77 is amended by adding at the end the following3 7#cj7 7,a7 ,the institution certifies that no funds available under this title may be used by an undergraduate student for enrollment in an educational program offered by the institution that is described in subparagraph 7,b74 7,b7 ,an educational program at an institution is described in this subparagraph if the program is a program-- 7i7 in the case of a program that awards an associate's degree or a lesser degree or credential1 in which the median earnings of students #f years after the date of entry into the program who are no longer enrolled in the program and are working is1 for not less than #b of the #c years preceding the date of the determination1 less than the median earnings of a working adult who is aged #be to #cd with only a high school diploma or its recognized equivalent1 as determined under subparagraph 7,c7 and in accordance with subparagraph 7,d72 or 7ii7 in the case of a program that awards a bachelor's degree1 in which the median earnings of students #aj years after the date of entry into the program who are no longer enrolled in the program and are working is1 for not less than #b of the #c years preceding the date of the determination1 less than the median earnings of a working adult who is aged #be to #cd with only a high school diploma or its recognized equivalent1 as determined under subparagraph 7,c7 and in accordance with subparagraph 7,d74 7,c7 ,the median earnings of a working adult who is aged #be to #cd with only a high school diploma or its recognized equivalent shall be based on data from the ,census ,bureau-- 7i7 for the ,state in which the institution is located2 or 7ii7 if fewer than #ej percent of the students enrolled in the institution reside in the ,state where the institution is located1 for the entire ,united ,states4 7,d7 ,for any year for which the programmatic cohort is fewer than #cj individuals1 the ,secretary shall-- 7i7 first1 aggregate additional years of programmatic data in order to achieve a cohort of at least #cj individuals2 7ii7 second1 aggregate additional cohort years of programmatic data for degrees or certificates of equivalent length in order to achieve a cohort of at least #cj individuals2 and 7iii7 if such data cannot be aggregated1 use an institution-based undergraduate-level measure1 in lieu of a programmatic measure4 7,e7 ,an educational program shall not lose eligibility under subparagraph 7,a7 unless the institution has had the opportunity to appeal the programmatic median earnings of students working and not enrolled determination4 ,during such appeal1 the ,secretary may permit the educational program to continue to participate in a program under this title4 ,if an educational program continues to participate in a program under this title1 and the institution's appeal of the loss of eligibility is unsuccessful1 the institution shall pay to the ,secretary an amount equal to the amount of interest1 and any related payments made by the ,secretary 7or which the ,secretary is obligated to make7 with respect to loans made under this title to students attending1 or planning to attend1 that educational program during the pendency of such appeal4 7#ca7 7,a7 ,the institution certifies that no funds available under this title may be used by a graduate student for enrollment in an educational program offered by the institution that is described in subparagraph 7,b74 7,b7 ,an educational program at an institution is described in this subparagraph if the program is a program-- 7i7 in the case of a program that awards a master's degree or a lesser degree or credential1 in which the median earnings of students #f years after the date of entry into the program who are no longer enrolled in the program and are working is1 for not less than #b of the #c years preceding the date of the determination1 less than the median earnings of a working adult who is aged #be to #cd with only a bachelor's degree1 as determined under subparagraph 7,c7 and in accordance with subparagraph 7,d72 or 7ii7 in the case of program that awards a professional degree or doctoral degree1 in which the median earnings of students #aj years after the date of entry into the program who are no longer enrolled in the program and are working is1 for not less than #b of the #c years preceding the date of the determination1 less than the median earnings of a working adult who is aged #be to #cd with only a bachelor's degree1 as determined under subparagraph 7,c7 and in accordance with subparagraph 7,d74 7,c7 ,the median earnings of a working adult who is aged #be to #cd with only a bachelor's degree shall be based on data from the ,census ,bureau-- 7i7 for the ,state in which the institution is located2 or 7ii7 if fewer than #ej percent of the students enrolled in the institution reside in the ,state where the institution is located1 for the entire ,united ,states4 7,d7 ,for any year for which the programmatic cohort is fewer than #cj individuals1 the ,secretary shall-- 7i7 first1 aggregate additional years of programmatic data in order to achieve a cohort of at least #cj individuals2 7ii7 second1 aggregate additional cohort years of programmatic data for degrees or certificates of equivalent length in order to achieve a cohort of at least #cj individuals2 and 7iii7 if such data cannot be aggregated1 use an institution-based graduate-level measure1 in lieu of a programmatic measure4 7,e7 ,an educational program shall not lose eligibility under subparagraph 7,a7 unless the institution has had the opportunity to appeal the programmatic median earnings of students working and not enrolled determination4 ,during such appeal1 the ,secretary may permit the educational program to continue to participate in a program under this title4 ,if an educational program continues to participate in a program under title1 and the institution's appeal of the loss of eligibility is unsuccessful1 the institution shall pay to the ,secretary an amount equal to the amount of interest1 and any related payments made by the ,secretary 7or which the ,secretary is obligated to make7 with respect to loans made under this title to students attending1 or planning to attend1 that educational program during the pendency of such appeal4 4 #djc4 ,phase out of income-based repayment ,section #dic;,c of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4 #ajih;e7 is amended-- 7#a7 in subsection 7b77#a71 by inserting who enters repayment on such loan before ,july #a1 #bjbd1 and after a borrower of any loan made1 insured1 or guaranteed under part ,b or ,d 7other than an excepted ,,plus loan or excepted consolidation loan72 and 7#b7 in subsection 7e7-- 7,a7 in the subsection heading by inserting 1 and before ,july #a1 #bjbd after ,july #a1 #bjad2 and 7,b7 by inserting 1 and before ,july #a1 #bjbd after ,july #a1 #bjad4 ,v ,graduate opportunity and affordable loans #eja4 ,loan limits ,section #dee of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4 #ajhg;e7 is amended-- 7#a7 in subsection 7a7-- 7,a7 in paragraph 7#c77;,a7-- 7i7 in the matter preceding clause 7i71 by striking part ,b and inserting part ,b--2 7ii7 beginning in the matter preceding clause 7i71 by striking for any period and all that follows through professional student and inserting the following3 7i7 for any period of instruction beginning on or after ,july #a1 #bjab1 a graduate or professional student 2 and 7iii7 in clause 7ii71 by inserting for any period of instruction beginning on ,july #a1 #bjab1 and ending on ,june #cj1 #bjbd 7subject to paragraph 7#d77;,c771 before the maximum annual2 and 7,b7 by adding at the end the following3 7#d7 ,graduate and professional annual and aggregate limits for ,unsubsidized ,stafford loans beginning ,july #a1 #bjbd 7,a7 ,annual limits beginning ,july #a1 #bjbd ,subject to subparagraph 7,c71 beginning on ,july #a1 #bjbd1 the maximum annual amount of ,federal ,direct ,unsubsidized ,stafford loans-- 7i7 a graduate student1 who is not a professional student1 may borrow in any academic year 7as defined in section #dha7;a77#b77 or its equivalent shall be #bj1ejj2 and 7ii7 a professional student may borrow in any academic year 7as defined in section #dha7;a77#b77 or its equivalent shall be #dj1ejj4 7,b7 ,aggregate limits beginning july #a1 #bjbd ,subject to subparagraph 7,c71 beginning on ,july #a1 #bjbd1 the maximum aggregate amount of ,federal ,direct ,unsubsidized ,stafford loans-- 7i7 a graduate student1 who is not a professional student1 may borrow is #fe1jjj1 in addition to the amount borrowed for undergraduate education2 and 7ii7 a professional student may borrow is #acj1jjj1 in addition to the amount borrowed for undergraduate education4 7,c7 ,phase out provisions ,notwithstanding the date of the applicability of the limits set forth in this paragraph1 an eligible graduate student1 including a professional student1 who received a disbursement of a ,federal ,direct ,unsubsidized ,stafford loan after ,june #cj1 #bjbc1 and before ,july #a1 #bjbd1 for the #bjbc-bjbd award year1 may receive a ,federal ,direct ,unsubsidized ,stafford loan for the #bjbd-bjbe award year in amounts that are subject to the annual and aggregate loan limits applicable prior to ,july #a1 #bjbd1 if the borrower did not graduate prior to the #bjbd-bjbe award year4 7,d7 ,definitions ,in this paragraph3 7i7 ,graduate student ,the term graduate student means a student enrolled in a program at the postbaccalaureate level1 such as a postbaccalaureate certificate1 a master's degree1 or a doctor's degree4 7ii7 ,professional student ,the term professional student means a student enrolled in a doctor's degree-professional practice program4 7iii7 ,postbaccalaureate certificate2 master's degree2 doctor's degree2 doctor's degree professional-practice ,the terms postbaccalaureate certificate1 master's degree1 doctor's degree1 and doctor's degree professional-practice shall have the meaning provided in the #bjbb-bjbc glossary of the ,integrated ,postsecondary ,education ,data ,system 7,,omb ,,no4 #ahei-jehb v4 #cj74 7#e7 ,termination of authority to make ,federal ,direct ,,plus loans to graduate and professional students 7,a7 ,in general ,notwithstanding any other provision of law1 for any period of instruction beginning on or after ,july #a1 #bjbd1 a graduate student 7including a professional student7 shall not be eligible to receive a ,federal ,direct ,,plus ,loan under this part for enrollment in a program of graduate or doctor's degree professional-practice education4 7,b7 ,phase out provisions ,not later than #cj days after the date of enactment of the ,lowering ,education ,costs and ,debt ,act1 each institution of higher education that enrolls graduate students or professional students shall notify prospective and enrolled graduate students and professional students that the ,federal ,direct ,,plus ,loan program will end for graduate students and professional students on ,june #cj1 #bjbd4 7,c7 ,definitions ,the definitions in paragraph 7#d77;,d7 shall apply to this paragraph4 7#f7 ,institutionally determined limits ,notwithstanding any other provision of this part1 an eligible institution 7at the discretion of a financial aid administrator at the institution7 may prorate or limit the amount of a loan a student who is enrolled in a program of study at that institution for a period of instruction beginning on or after ,july #a1 #bjbd1 may borrow under this part for an academic year1 as long as any proration or limit is applied consistently to all borrowers entering such program of study4 4