,,ii  #aah? ,,congress  #a/ ,session    
,s4 #aigb  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,june #ad1 #bjbc ,mr4  
,cassidy 7= himself1 ,mr4 ,cornyn1 ,mr4 
,grassley1 ,mr4 ,scott ( ,s\? ,c>ol9a1 &
 ,mr4 ,tub]ville7 introduc$ ! foll[+    
bill2 :i* 0 read twice & ref]r$ to !    
,committee on ,heal?1 ,education1       
,labor1 & ,p5sions  ,a ,,bill  ,to      
increase college transp>5cy1 & = o!r    
purposes4  #a4 ,%ort title ,?is ,act may
 be cit$ z ! ,l[]+ ,education ,co/s &   
,debt ,act4  #b4 ,table ( cont5ts ,!    
table ( cont5ts ( ?is ,act is z foll[s3 
,sec4 #a4 ,%ort title4 ,sec4 #b4 ,table 
( cont5ts4 ,,title ,i--,college         
,transp>5cy ,sec4 #aja4 ,po/second>y    
/ud5t data sy/em4 ,sec4 #ajb4 ,repeal ( 
prohibition on /ud5t data sy/em4 ,sec4  
#ajc4 ,in/itutional requirem5ts4 ,sec4  
#ajd4 ,transition provisions4 ,,title   
,,ii--,und]/&+ ! true co/ ( college     
,sec4 #bja4 ,in/itution ,f9ancial ,aid  
,(f] ,=m4 ,sec4 #bjb4 ,m&atory =m4      
,,title ,,iii--,in=m$ /ud5t borr[+ ,sec4

 #cja4 ,c\nsel+ & f9ancial aid          
disclosures4 ,sec4 #cjb4 ,annual        
requirem5t to manually ent] loan am\nt4 
,sec4 #cjc4 ,"w /udy4 ,,title           
,,iv--,/reaml9+ ,acc\ntability & ,value 
9 ,education = ,/ud5ts ,sec4 #dja4 ,loan
 repaym5t simplification & income-driv5 
repaym5t re=m4 ,sec4 #djb4 ,taxpay] &   
consum] protection on /ud5t loans4 ,sec4
 #djc4 ,phase out ( income-bas$         
repaym5t4 ,,title ,v--,graduate         
opportunity & af=dable loans ,sec4 #eja4
 ,loan limits4  ,i ,college ,transp>5cy 
#aja4 ,po/second>y /ud5t data sy/em     
,section #acb ( ! ,high] ,education ,act
 ( #aife 7#bj ,u4,s4,c4 #ajae;a7 is     
am5d$-- 7#a7 by r$esignat+ subsection   
7l7 z subsection 7m72 &  7#b7 by ins]t+ 
aft] subsection 7k7 ! foll[+3  7l7      
,po/second>y /ud5t data sy/em  7#a7 ,9  
g5]al  7,a7 ,e/abli%m5t ( sy/em ,n lat] 
?an #d ye>s aft] ! date ( enactm5t ( !  
,l[]+ ,education ,co/s & ,debt ,act1 !  
,commission] ( ! ,national ,c5t] =      
,education ,/ati/ics 7ref]r$ to 9 ?is   

subsection z ! ,commission]7 %all       
develop & ma9ta9 a secure &             
privacy-protect$ po/second>y /ud5t-level
 data sy/em 9 ord] to--  7i7 accurately 
evaluate /ud5t enrollm5t patt]ns1       
progression1 completion1 & po/collegiate
 outcomes1 & high] education co/s &     
f9ancial aid2  7ii7 assi/ ) transp>5cy1 
in/itutional improvem5t1 & analysis (   
,f$]al aid programs2  7iii7 provide     
accurate1 complete1 & cu/omizable       
in=mation = /ud5ts & families mak+      
decisions ab\t po/second>y education2 & 
7iv7 r$uce ! report+ burd5 on           
in/itutions ( high] education1 9        
accordance ) section #ajd ( ! ,l[]+     
,education ,co/s & ,debt ,act4  7,b7    
,avoid+ duplicat$ report+ ,not)/&+ any  
o!r provision ( ?is section1 to ! ext5t 
t ano!r provision ( ?is section requires
 ! same report+ or collection ( data t  
is requir$ "u ?is subsection1 an        
in/itution ( high] education1 or !      
,secret>y or ,commission]1 %all use !   
report+ or data requir$ = ! po/second>y 

/ud5t data sy/em "u ?is subsection to   
satisfy bo? requirem5ts4  7,c7          
,developm5t process ,9 develop+ !       
po/second>y /ud5t data sy/em describ$ 9 
?is subsection1 ! ,commission] %all--   
7i7 focus on ! ne$s (-- 7,i7 us]s ( !   
data sy/em2 &  7,,ii7 entities1 includ+ 
in/itutions ( high] education1 report+  
to ! data sy/em2  7ii7 take into        
consid]ation1 to ! ext5t practicable--  
7,i7 ! guidel9es outl9$ 9 ! ,u4,s4 ,web 
,design ,/&>ds ma9ta9$ by ! ,g5]al      
,s]vices ,adm9i/ration & ! ,digital     
,s]vices ,playbook & ,tech,f,a,r ,h&book
 = ,procur+ ,digital ,s]vices ,us+      
,agile ,processes ( ! ,u4,s4 ,digital   
,s]vice2 &  7,,ii7 ! relevant successor 
docum5ts or recomm5dations ( su*        
guidel9es2  7iii7 use mod]n1 relevant   
privacy- & security-enhanc+ te*nology1 &
 enhance & update ! data sy/em z        
necess>y to c>ry out ! purpose ( ?is    
subsection2  7iv7 ensure data privacy & 
security is consi/5t ) any relevant     
,f$]al law relat+ to privacy or data    

security1 includ+--  7,i7 ! requirem5ts 
( sub*apt] ,,ii ( *apt] #ce ( title #dd1
 ,unit$ ,/ates ,code1 specify+ security 
categorization "u ! ,f$]al ,in=mation   
,process+ ,/&>ds or any relevant        
successor ( su* /&>ds2  7,,ii7 security 
requirem5ts t are consi/5t ) ! ,f$]al   
ag5cy responsibilities 9 section #ceed (
 title #dd1 ,unit$ ,/ates ,code1 or any 
relevant successor ( su*                
responsibilities2 &  7,,iii7 security   
requirem5ts1 guidel9es1 & controls      
consi/5t ) cyb]security /&>ds & be/     
practices develop$ by ! ,national       
,in/itute ( ,/&>ds & ,te*nology1 includ+
 frameworks1 consi/5t ) section #b7;c7 (
 ! ,national ,in/itute ( ,/&>ds &       
,te*nology ,act 7#ae ,u4,s4,c4          
#bgb7;c771 or any relevant successor (  
su* frameworks2  7v7 foll[ ,f$]al data  
m9imization practices to ensure only !  
m9imum am\nt ( data is collect$ to meet 
! sy/em's goals1 9 accordance ) ,f$]al  
data m9imization /&>ds & guidel9es      
develop$ by ! ,national ,in/itute (     

,/&>ds & ,te*nology2 &  7vi7 provide    
notice to /ud5ts outl9+ ! data includ$ 9
 ! sy/em & h[ ! data are us$4  7#b7     
,data elem5ts  7,a7 ,9 g5]al ,n lat] ?an
 #d ye>s aft] ! date ( enactm5t ( !     
,l[]+ ,education ,co/s & ,debt ,act1 !  
,commission]1 9 consultation ) !        
,po/second>y ,/ud5t ,data ,sy/em        
,advisory ,committee e/abli%$ "u        
subp>agraph 7,b71 %all det]m9e--  7i7 ! 
data elem5ts to be includ$ 9 !          
po/second>y /ud5t data sy/em1 9         
accordance ) subp>agraphs 7,c7 & 7,d72 &
  7ii7 h[ to include ! data elem5ts     
requir$ "u subp>agraph 7,c71 & any      
additional data elem5ts select$ "u      
subp>agraph 7,d71 9 ! po/second>y /ud5t 
data sy/em4  7,b7 ,po/second>y /ud5t    
data sy/em advisory committee  7i7      
,e/abli%m5t ,n lat] ?an #b ye>s aft] !  
date ( enactm5t ( ! ,l[]+ ,education    
,co/s & ,debt ,act1 ! ,commission] %all 
e/abli% a ,po/second>y ,/ud5t ,data     
,sy/em ,advisory ,committee 7ref]r$ to 9
 ?is subsection z ! ,advisory           

,committee71 ^: memb]s %all include--   
7,i7 ! ,*ief ,privacy ,(fic] ( !        
,dep>tm5t or an (ficial ( ! ,dep>tm5t   
delegat$ ! duties ( ov]see+ data privacy
 at ! ,dep>tm5t2  7,,ii7 ! ,*ief        
,security ,(fic] ( ! ,dep>tm5t or an    
(ficial ( ! ,dep>tm5t delegat$ ! duties 
( ov]see+ data security at ! ,dep>tm5t2 
7,,iii7 repres5tatives ( div]se         
in/itutions ( high] education1 :i* %all 
include equal repres5tation betwe5      
#b-ye> & #d-ye> in/itutions ( high]     
education1 & f public1 nonpr(it1 &      
propriet>y in/itutions ( high]          
education1 includ+ m9ority-s]v+         
in/itutions2  7,,iv7 repres5tatives f   
,/ate high] education ag5cies1 entities1
 bodies1 or bo>ds2  7,v7 repres5tatives 
( po/second>y /ud5ts2  7,,vi7           
repres5tatives f relevant ,f$]al        
ag5cies2  7,,vii7 individuals ) exp]tise
 9 data privacy & security2 &  7,,viii7 
o!r /akehold]s 7includ+ individuals )   
consum] protection & po/second>y        
education rese>*74  7ii7 ,requirem5ts ,!

 ,commission] %all ensure t ! ,advisory 
,committee--  7,i7 adh]es to all        
requirem5ts "u *apt] #aj ( title #e1    
,unit$ ,/ates ,code 7commonly kn[n z !  
,f$]al ,advisory ,committee ,act72      
7,,ii7 e/abli%es op]at+ & meet+         
proc$ures & guidel9es necess>y to       
execute its advisory duties2 &  7,,iii7 
is provid$ ) appropriate /aff+ &        
res\rces to execute its advisory duties4
  7,c7 ,requir$ data elem5ts ,! data    
elem5ts 9 ! po/second>y /ud5t data sy/em
 %all include1 at a m9imum1 ! foll[+3   
7i7 ,/ud5t-level data elem5ts necess>y  
to calculate ! in=mation )9 ! surveys   
designat$ by ! ,commission] z           
/ud5t-relat$ surveys 9 ! ,integrat$     
,po/second>y ,education ,data ,sy/em    
7,,ip$s71 z su* surveys are 9 effect on 
! day be=e ! date ( enactm5t ( ! ,l[]+  
,education ,co/s & ,debt ,act1 except t 
9 ! case t collection ( su* elem5ts w\ld
 conflict ) subp>agraph 7,f71 su*       
elem5ts 9 conflict ) subp>agraph 7,f7   
%all be includ$ 9 ! aggregate in/ead (  

at ! /ud5t level4  7ii7 ,/ud5t-level    
data elem5ts necess>y to all[ = report+ 
/ud5t enrollm5t1 p]si/5ce1 ret5tion1    
transf]1 & completion measures = all    
cr$5tial levels sep>ately 7includ+      
c]tificate1 associate1 baccalaureate1 & 
advanc$ degree levels71 )9 & across     
in/itutions ( high] education 7includ+  
across all categories ( in/itution      
level1 control1 & pr$om9ant degree      
aw>d$74 ,! data elem5ts %all all[ =     
report+ ab\t all su* data disaggregat$  
by ! foll[+ categories3  7,i7 ,enrollm5t
 /atus z a fir/-"t /ud5t1 rec5t transf] 
/ud5t1 or o!r non-fir/-"t /ud5t4  7,,ii7
 ,att5dance int5sity1 :e!r full-"t or   
"p-"t4  7,,iii7 ,cr$5tial-seek+ /atus1  
by cr$5tial level4  7,,iv7 ,race or     
e?nicity1 9 a mann] t captures all !    
racial gr\ps specifi$ 9 ! mo/ rec5t     
,am]ican ,community ,survey ( ! ,bureau 
( ! ,c5sus4  7,v7 ,age int]vals4  7,,vi7
 ,g5d]4  7,,vii7 ,program ( /udy 7z     
applicable74  7,,viii7 ,milit>y or      
vet]an b5efit /atus 7z det]m9$ bas$ on  

receipt ( vet]an's education b5efits1 z 
def9$ 9 section #dhj7;c774  7,,ix7      
,/atus z a di/ance education /ud5t1 :e!r
 exclusively or p>tially enroll$ 9      
di/ance education4  7,x7 ,f$]al ,pell   
,grant recipi5t /atus "u section #dja & 
,f$]al loan recipi5t /atus "u title     
,,iv1 provid$ t ! collection ( su*      
in=mation complies ) p>agraph 7#a77;,b74
  7,d7 ,o!r data elem5ts  7i7 ,9 g5]al  
,! ,commission] may1 aft] consultation )
 ! ,advisory ,committee & provision ( a 
public comm5t p]iod1 include additional 
data elem5ts 9 ! po/second>y /ud5t data 
sy/em1 su* z ^? describ$ 9 clause 7ii71 
if ^? data elem5ts-- 7,i7 are necess>y  
to ensure t ! po/second>y data sy/em    
fulfills ! purposes describ$ 9 p>agraph 
7#a77;,a72 &  7,,ii7 are consi/5t ) data
 m9imization pr9ciples1 includ+ !       
collection ( only ^? additional elem5ts 
t are necess>y to ensure su* purposes4  
7ii7 ,data elem5ts ,! data elem5ts      
describ$ 9 clause 7i7 may include--     
7,i7 /atus z a fir/ g5]ation college    

/ud5t1 z def9$ 9 section #djb;,a7h72    
7,,ii7 economic /atus2  7,,iii7         
p>ticipation 9 po/second>y rem$ial      
c\rsework or gateway c\rse completion2  
or  7,,iv7 o!r data elem5ts t are       
necess>y 9 accordance ) clause 7i74     
7,e7 ,reevaluation ,n less ?an once e #c
 ye>s aft] ! implem5tation ( !          
po/second>y /ud5t data sy/em describ$ 9 
?is subsection1 ! ,commission]1 9       
consultation ) ! ,advisory ,committee   
describ$ 9 subp>agraph 7,b71 %all review
 ! data elem5ts includ$ 9 ! po/second>y 
/ud5t data sy/em & may revise ! data    
elem5ts to be includ$ 9 su* sy/em4  7,f7
 ,prohibitions ,! ,commission] %all n   
include individual heal? data 7includ+  
data relat+ to physical heal? or m5tal  
heal?71 /ud5t discipl9e records or data1
 elem5t>y & second>y education data1 an 
exact address1 citiz5%ip /atus1 migrant 
/atus1 or national orig9 /atus = /ud5ts 
or _! families1 c\rse grades1           
po/second>y entrance exam9ation results1
 political affiliation1 or religion 9 ! 

po/second>y /ud5t data sy/em "u ?is     
subsection4  7#c7 ,p]iodic mat*+ ) o!r  
f$]al data sy/ems  7,a7 ,data %>+       
agreem5ts  7i7 ,! ,commission] %all     
ensure secure & privacy-protect$ p]iodic
 data mat*es by ent]+ into data %>+     
agreem5ts ) ea* ( ! foll[+ ,f$]al       
ag5cies & (fices3 7,i7 ,! ,secret>y ( ! 
,treasury & ! ,commission] ( ! ,int]nal 
,rev5ue ,s]vice1 9 ord] to calculate    
aggregate program- & in/itution-level   
e>n+s ( po/second>y /ud5ts4  7,,ii7 ,!  
,secret>y ( ,def5se1 9 ord] to assess ! 
use ( po/second>y educational b5efits & 
! outcomes ( s]vicememb]s4  7,,iii7 ,!  
,secret>y ( ,vet]ans ,affairs1 9 ord] to
 assess ! use ( po/second>y educational 
b5efits & outcomes ( vet]ans4  7,,iv7 ,!
 ,director ( ! ,bureau ( ! ,c5sus1 9    
ord] to assess ! e>n+s outcomes ( =m]   
po/second>y education /ud5ts4  7,v7 ,!  
,*ief ,op]at+ ,(fic] ( ! ,(fice ( ,f$]al
 ,/ud5t ,aid1 9 ord] to analyze ! use ( 
po/second>y educational b5efits provid$ 
"u ?is ,act4  7,,vi7 ,! ,commission] ( !

 ,social ,security ,adm9i/ration1 9 ord]
 to evaluate labor m>ket outcomes ( =m] 
po/second>y education /ud5ts4  7,,vii7  
,! ,commission] ( ! ,bureau ( ,labor    
,/ati/ics1 9 ord] to assess ! wages (   
=m] po/second>y education /ud5ts4  7ii7 
,! heads ( ,f$]al ag5cies & (fices      
describ$ "u clause 7i7 %all ent] into   
data %>+ agreem5ts ) ! ,commission] to  
ensure secure & privacy-protect$ p]iodic
 data mat*es z describ$ 9 ?is p>agraph4 
7,b7 ,categories ( data ,! ,commission] 
%all1 at a m9imum1 seek to ensure t !   
secure & privacy-protect$ p]iodic data  
mat*es describ$ 9 subp>agraph 7,a7 p]mit
 consi/5t report+ ( ! foll[+ categories 
( data = all po/second>y /ud5ts3  7i7   
,enrollm5t1 ret5tion1 transf]1 &        
completion outcomes = all po/second>y   
/ud5ts4  7ii7 ,f9ancial indicators =    
po/second>y /ud5ts receiv+ ,f$]al grants
 & loans1 includ+ grant & loan aid by   
s\rce1 cumulative /ud5t debt1 loan      
repaym5t /atus1 & repaym5t plan4  7iii7 
,po/-completion outcomes = all          

po/second>y /ud5ts1 includ+ e>n+s1      
employm5t1 & fur!r education1 by program
 ( /udy & cr$5tial level & z measur$--  
7,i7 imm$iately aft] leav+ po/second>y  
education2 &  7,,ii7 at "t int]vals     
appropriate to ! cr$5tial s\ght & e>n$4 
7,c7 ,p]iodic data mat* /reaml9+ &      
confid5tiality  7i7 ,/reaml9+ ,9 c>ry+  
out ! secure & privacy-protect$ p]iodic 
data mat*es "u ?is p>agraph1 !          
,commission] %all--  7,i7 ensure t su*  
mat*es are n cont9u\s1 b occur only     
p]iodically at appropriate int]vals1 z  
det]m9$ by ! ,commission] to meet !     
goals ( subp>agraph 7,a72 &  7,,ii7 seek
 to--  7aa7 /reaml9e ! data collection &
 report+ requirem5ts = in/itutions (    
high] education2  7bb7 m9imize          
duplicative report+ across or )9 ,f$]al 
ag5cies or dep>tm5ts1 includ+ report+   
requirem5ts applicable to in/itutions ( 
high] education "u ! ,work=ce           
,innovation & ,opportunity ,act 7#bi    
,u4,s4,c4 #caja et seq47 & ! ,c>l ,d4   
,p]k9s ,c>e] & ,te*nical ,education ,act

 ( #bjjf2  7cc7 protect /ud5t privacy2 &
  7dd7 /reaml9e ! application process = 
/ud5t loan b5efit programs available to 
borr[]s bas$ on data available f diff]5t
 ,f$]al data sy/ems4  7ii7 ,review ,n   
less (t5 ?an once e #c ye>s aft] !      
e/abli%m5t ( ! po/second>y /ud5t data   
sy/em "u ?is subsection1 ! ,commission]1
 9 consultation ) ! ,advisory           
,committee1 %all review me?ods =        
/reaml9+ data collection f in/itutions (
 high] education & m9imiz+ duplicative  
report+ )9 ! ,dep>tm5t & across ,f$]al  
ag5cies t provide data = ! po/second>y  
/ud5t data sy/em4  7iii7 ,confid5tiality
 ,! ,commission] %all ensure t any      
p]iodic mat*+ or %>+ ( data ?r\gh       
p]iodic data sy/em mat*es e/abli%$ 9    
accordance ) ?is p>agraph--  7,i7       
complies ) ! security & privacy         
protections describ$ 9 p>agraph         
7#a77;,c77iv7 & o!r ,f$]al data         
protection protocols2  7,,ii7 foll[s    
indu/ry be/ practices comm5surate ) !   
s5sitivity ( specific data elem5ts or   

metrics2  7,,iii7 does n result 9 !     
creation ( a s+le /&+1 l9k$ ,f$]al      
database at ! ,dep>tm5t t ma9ta9s !     
in=mation report$ across o!r ,f$]al     
ag5cies2 &  7,,iv7 discloses to         
po/second>y /ud5ts :at data are includ$ 
9 ! data sy/em & p]iodically mat*$ & h[ 
! data are us$4  7iv7 ,correction ,!    
,commission]1 9 consultation ) !        
,advisory ,committee1 %all e/abli% a    
process = /ud5ts to reque/ access to    
only _! p]sonal in=mation = inspection &
 reque/ corrections to inaccuracies 9 a 
mann] t protects ! /ud5t's p]sonally    
id5tifiable in=mation4 ,! ,commission]  
%all respond 9 writ+ to e reque/ = a    
correction f a /ud5t4  7#d7 ,publicly   
available in=mation  7,a7 ,9 g5]al ,!   
,commission] %all make ! summ>y         
aggregate in=mation describ$ 9          
subp>agraph 7,c71 at a m9imum1 publicly 
available ?r\gh a us]-fri5dly consum]   
in=mation website & analytic tool t--   
7i7 provides appropriate me*anisms =    
us]s to cu/omize & filt] in=mation by   

in/itutional & /ud5t *>act]i/ics2  7ii7 
all[s us]s to build summ>y aggregate    
reports ( in=mation1 includ+ reports t  
all[ comp>isons across multiple         
in/itutions & programs1 subject to      
subp>agraph 7,b72  7iii7 uses           
appropriate /ati/ical disclosure        
limitation te*niques necess>y to ensure 
t ! data releas$ to ! public _c be us$  
to id5tify specific individuals2 &  7iv7
 provides us]s ) appropriate contextual 
factors to make comp>isons1 :i* may     
include national m$ian figures ( !      
summ>y aggregate in=mation describ$ 9   
subp>agraph 7,c74  7,b7 ,no p]sonally   
id5tifiable in=mation available ,!      
summ>y aggregate in=mation describ$ 9   
?is p>agraph %all n include p]sonally   
id5tifiable in=mation4  7,c7 ,summ>y    
aggregate in=mation available ,! summ>y 
aggregate in=mation describ$ 9 ?is      
p>agraph %all1 at a m9imum1 include ea* 
( ! foll[+ = ea* in/itution ( high]     
education3  7i7 ,measures ( /ud5t       
access1 includ+-- 7,i7 admissions       

selectivity & yield2 &  7,,ii7          
enrollm5t1 disaggregat$ by ea* category 
describ$ 9 p>agraph 7#b77;,c77ii74  7ii7
 ,measures ( /ud5t progression1 includ+ 
ret5tion rates & p]si/5ce rates1        
disaggregat$ by ea* category describ$ 9 
p>agraph 7#b77;,c77ii74  7iii7 ,measures
 ( /ud5t completion1 includ+-- 7,i7     
transf] rates & completion rates1       
disaggregat$ by ea* category describ$ 9 
p>agraph 7#b77;,c77ii72 &  7,,ii7 numb] 
( completions1 disaggregat$ by ea*      
category describ$ 9 p>agraph            
7#b77;,c77ii74  7iv7 ,measures ( /ud5t  
co/s1 includ+--  7,i7 tuition1 requir$  
fees1 total co/ ( att5dance1 & net price
 aft] total grant aid1 disaggregat$ by  
9-,/ate tuition or 9-di/rict tuition    
/atus 7if applicable71 program ( /udy   
7if applicable71 & cr$5tial level2 &    
7,,ii7 typical grant am\nts & loan      
am\nts receiv$ by /ud5ts report$        
sep>ately f ,f$]al1 ,/ate1 local1 &     
in/itutional s\rces1 & cumulative debt1 
disaggregat$ by ea* category describ$ 9 

p>agraph 7#b77;,c77ii7 & completion     
/atus4  7v7 ,measures ( po/collegiate   
/ud5t outcomes1 includ+ employm5t rates1
 mean & m$ian e>n+s1 loan repaym5t &    
default rates1 & fur!r education rates4 
,^! measures %all-- 7,i7 be disaggregat$
 by ea* category describ$ 9 p>agraph    
7#b77;,c77ii7 & completion /atus2 &     
7,,ii7 be measur$ imm$iately aft] leav+ 
po/second>y education & at "t int]vals  
appropriate to ! cr$5tial s\ght or e>n$4
  7,d7 ,developm5t crit]ia ,9 develop+ !
 me?od & =mat ( mak+ ! in=mation        
describ$ 9 ?is p>agraph publicly        
available1 ! ,commission] %all--  7i7   
focus on ! ne$s ( ! us]s ( ! in=mation1 
:i* w include /ud5ts1 families ( /ud5ts1
 pot5tial /ud5ts1 rese>*]s1 & o!r       
consum]s ( education data2  7ii7 take   
into consid]ation1 to ! ext5t           
practicable1 ! guidel9es describ$ 9     
p>agraph 7#a77;,c77ii77,i71 & relevant  
successor docum5ts or recomm5dations (  
su* guidel9es2  7iii7 use mod]n1        
relevant te*nology & enhance & update ! 

po/second>y /ud5t data sy/em )          
in=mation1 z necess>y to c>ry out !     
purpose ( ?is p>agraph2  7iv7 ensure    
data privacy & security 9 accordance )  
/&>ds & guidel9es develop$ by !         
,national ,in/itute ( ,/&>ds &          
,te*nology1 & 9 accordance ) any o!r    
,f$]al law relat+ to privacy or         
security1 includ+ comply+ ) !           
requirem5ts ( sub*apt] ,,ii ( *apt] #ce 
( title #dd1 ,unit$ ,/ates ,code1       
specify+ security categorization "u !   
,f$]al ,in=mation ,process+ ,/&>ds1 &   
security requirem5ts1 & sett+ (         
,national ,in/itute ( ,/&>ds &          
,te*nology security basel9e controls at 
! appropriate level2 &  7v7 conduct     
consum] te/+ to det]m9e h[ to make !    
in=mation z mean+ful to us]s z possible4
  7#e7 ,p]missible disclosures ( data   
7,a7 ,data reports & qu]ies  7i7 ,9     
g5]al ,n lat] ?an #d ye>s aft] ! date ( 
enactm5t ( ! ,l[]+ ,education ,co/s &   
,debt ,act1 ! ,commission] %all develop 
& implem5t a secure & privacy-protect$  

process = mak+ /ud5t-level1             
non-p]sonally id5tifiable in=mation1 )  
direct id5tifi]s remov$1 f ! po/second>y
 /ud5t data sy/em available = vett$     
rese>* & evaluation purposes approv$ by 
! ,commission] 9 a mann] compatible )   
practices = disclos+ ,national ,c5t] =  
,education ,/ati/ics re/rict$-use survey
 data z 9 effect on ! day be=e ! date ( 
enactm5t ( ! ,l[]+ ,education ,co/s &   
,debt ,act1 or by apply+ o!r rese>* &   
disclosure re/rictions to ensure data   
privacy & security4 ,su* process %all be
 approv$ by ! ,national ,c5t] =         
,education ,/ati/ics' ,disclosure       
,review ,bo>d 7or successor body74  7ii7
 ,provid+ data reports & qu]ies to      
in/itutions & /ates  7,i7 ,9 g5]al ,!   
,commission] %all provide fe$back       
reports1 at lea/ annually1 to ea*       
in/itution ( high] education1 ea*       
po/second>y education sy/em t fully     
p>ticipates 9 ! po/second>y /ud5t data  
sy/em1 & ea* ,/ate high] education body 
z designat$ by ! gov]nor4  7,,ii7       

,fe$back reports ,! fe$back reports     
provid$ "u ?is clause %all include      
program-level & in/itution-level        
in=mation f ! po/second>y /ud5t data    
sy/em reg>d+ /ud5ts :o are associat$ ) !
 in/itution or1 = ,/ate repres5tatives1 
! in/itutions )9 t ,/ate1 on or be=e !  
date ( ! report1 on measures includ+    
/ud5t mobility & work=ce outcomes1      
provid$ t ! fe$back aggregate summ>y    
reports protect ! privacy ( individuals4
  7,,iii7 ,det]m9ation ( cont5t ,!      
cont5t ( ! fe$back reports %all be      
det]m9$ by ! ,commission] 9 consultation
 ) ! ,advisory ,committee4  7iii7       
,p]mitt+ /ate data qu]ies ,!            
,commission] %all1 9 consultation ) !   
,advisory ,committee & z soon z         
practicable1 create a process ?r\gh :i* 
,/ates may submit li/s ( second>y s*ool 
graduates )9 ! ,/ate to receive summ>y  
aggregate outcomes = ^? /ud5ts :o       
enroll$ at an in/itution ( high]        
education1 includ+ po/second>y enrollm5t
 & college completion1 provid$ t ^? data

 protect ! privacy ( individuals & t !  
,/ate data submitt$ to ! ,commission]   
are n /or$ 9 ! po/second>y education    
sy/em4  7iv7 ,regulations ,!            
,commission] %all promulgate regulations
 to ensure fair1 secure &               
privacy-protect$1 & equitable access to 
data reports & qu]ies "u ?is p>agraph4  
7,b7 ,disclosure limitations ,9 c>ry+   
out ! public report+ & disclosure       
requirem5ts ( ?is subsection1 !         
,commission] %all use appropriate       
/ati/ical disclosure limitation         
te*niques necess>y to ensure t ! data   
releas$ to ! public _c include p]sonally
 id5tifiable in=mation or be us$ to     
id5tify specific individuals4  7,c7     
,sale ( data prohibit$ ,data collect$ "u
 ?is subsection1 includ+ ! public-use   
data set & data compris+ ! summ>y       
aggregate in=mation available "u        
p>agraph 7#d71 %all n be sold to any    
?ird p>ty by ! ,commission]1 includ+ any
 in/itution ( high] education or any o!r
 entity4  7,d7 ,limitation on use by o!r

 f$]al ag5cies  7i7 ,9 g5]al ,!         
,commission] %all n all[ any o!r ,f$]al 
ag5cy to use data collect$ "u ?is       
subsection = any purpose except--  7,i7 
= vett$ rese>* & evaluation conduct$ by 
! o!r ,f$]al ag5cy1 z describ$ 9        
subp>agraph 7,a77i72 or  7,,ii7 = a     
purpose explicitly au?oriz$ by ?is ,act4
  7ii7 ,prohibition on limitation (     
s]vices ,! ,secret>y1 or ! head ( any   
o!r ,f$]al ag5cy1 %all n use data       
collect$ "u ?is subsection to limit     
s]vices to /ud5ts4  7,e7 ,law en=cem5t  
,p]sonally id5tifiable in=mation        
collect$ "u ?is subsection %all n be us$
 = any ,f$]al1 ,/ate1 or local law      
en=cem5t activity or any o!r activity t 
w\ld result 9 adv]se action aga9/ any   
/ud5t or a /ud5t's family1 includ+ debt 
collection activity or en=cem5t (       
immigration laws4  7,f7 ,limitation (   
use = f$]al rank+s or summative rat+    
sy/em ,! compreh5sive data collection & 
analysis necess>y = ! po/second>y /ud5t 
data sy/em "u ?is subsection %all n be  

us$ by ! ,secret>y or any ,f$]al entity 
to e/abli% any ,f$]al rank+ sy/em (     
in/itutions ( high] education or a sy/em
 t results 9 a summative ,f$]al rat+ (  
in/itutions ( high] education4  7,g7    
,rule ( con/ruction ,no?+ 9 ?is p>agraph
 %all be con/ru$ to prev5t ! use (      
individual categories ( aggregate       
in=mation to be us$ = acc\ntability     
purposes4  7,h7 ,rule ( con/ruction     
reg>d+ comm]cial use ( data ,no?+ 9 ?is 
p>agraph %all be con/ru$ to prohibit    
?ird-p>ty entities f us+ publicly       
available in=mation 9 ?is data sy/em =  
comm]cial use4  7#f7 ,submission ( data 
7,a7 ,requir$ submission ,ea* in/itution
 ( high] education p>ticipat+ 9 a       
program "u title ,,iv1 or ! assign$ ag5t
 ( su* in/itution1 %all1 = ea* eligible 
program1 9 accordance ) section         
#dhg7;a77#ag71 collect1 & submit to !   
,commission]1 ! data reque/$ by !       
,commission] to c>ry out ?is subsection4
  7,b7 ,volunt>y submission ,any        
in/itution ( high] education n          

p>ticipat+ 9 a program "u title ,,iv may
 volunt>ily p>ticipate 9 ! po/second>y  
/ud5t data sy/em "u ?is subsection by   
collect+ & submitt+ data to !           
,commission]1 z ! ,commission] may      
reque/ to c>ry out ?is subsection4  7,c7
 ,p]sonally id5tifiable in=mation ,9    
accordance ) p>agraph 7#b77;,c77i71 if !
 submission ( an elem5t ( /ud5t-level   
data is prohibit$ "u p>agraph 7#b77;,f7 
7or o!rwise prohibit$ by law71 !        
in/itution ( high] education %all submit
 t data to ! ,commission] 9 ! aggregate4
  7#g7 ,unlawful willful disclosure     
7,a7 ,9 g5]al ,x %all be unlawful = any 
p]son :o obta9s or has access to        
p]sonally id5tifiable in=mation 9       
connection ) ! po/second>y /ud5t data   
sy/em describ$ 9 ?is subsection to      
willfully disclose to any p]son 7except 
z au?oriz$ 9 ?is ,act or by any ,f$]al  
law7 su* p]sonally id5tifiable          
in=mation4  7,b7 ,p5alty ,any p]son :o  
violates subp>agraph 7,a7 %all be       
subject to a p5alty describ$ "u section 

#cegb7;f7 ( title #dd1 ,unit$ ,/ates    
,code1 & section #ahc7;d77#f7 ( !       
,education ,sci5ces ,re=m ,act ( #bjjb  
7#bj ,u4,s4,c4 #iegc7;d77#f774  7,c7    
,employee ( (fic] ( ! unit$ /ates ,if a 
violation ( subp>agraph 7,a7 is committ$
 by any (fic] or employee ( ! ,unit$    
,/ates1 ! (fic] or employee %all be     
dismiss$ f (fice or dis*>g$ f employm5t 
^u conviction = ! violation4  7#h7 ,data
 security ,! ,commission] %all produce &
 update z ne$$ guidance & regulations   
relat+ to privacy1 security1 & access   
:i* %all gov]n ! use & disclosure ( data
 collect$ 9 connection ) ! activities   
au?oriz$ 9 ?is subsection4 ,! guidance &
 regulations develop$ & review$ %all    
protect data f unau?oriz$ access1 use1 &
 disclosure1 & %all include--  7,a7 an  
audit capability1 includ+ m&atory &     
regul>ly conduct$ audits2  7,b7 access  
controls2  7,c7 requirem5ts to ensure   
suffici5t data security1 quality1       
validity1 & reliability2  7,d7          
confid5tiality protection 9 accordance )

 ! applicable provisions ( sub*apt]     
,,iii ( *apt] #ce ( title #dd1 ,unit$   
,/ates ,code2  7,e7 appropriate &       
applicable privacy & security           
protection1 includ+ data ret5tion &     
de/ruction protocols & data m9imization1
 9 accordance ) ! mo/ rec5t ,f$]al /&>ds
 develop$ by ! ,national ,in/itute (    
,/&>ds & ,te*nology2 &  7,f7 protocols =
 manag+ a brea*1 includ+ brea*          
notifications1 9 accordance ) ! /&>ds ( 
,national ,c5t] = ,education ,/ati/ics4 
7#i7 ,data collection ,! ,commission]   
%all ensure t data collection1          
ma9t5ance1 & use "u ?is subsection      
complies ) section #eeb;a ( title #e1   
,unit$ ,/ates ,code4  7#aj7 ,def9itions 
,9 ?is subsection3  7,a7 ,in/itution (  
high] education ,! t]m in/itution (     
high] education has ! mean+ giv5 ! t]m 9
 section #ajb4  7,b7 ,m9ority-s]v+      
in/itution ,! t]m m9ority-s]v+          
in/itution means an in/itution ( high]  
education li/$ 9 section #cga7;a74  7,c7
 ,p]sonally id5tifiable in=mation ,! t]m

 p]sonally id5tifiable in=mation means  
p]sonally id5tifiable in=mation )9 !    
mean+ ( section #ddd ( ! ,g5]al         
,education ,provisions ,act4  4  #ajb4  
,repeal ( prohibition on /ud5t data     
sy/em ,section #acd ( ! ,high]          
,education ,act ( #aife 7#bj ,u4,s4,c4  
#ajae;c7 is repeal$4  #ajc4             
,in/itutional requirem5ts  7a7 ,9 g5]al 
,p>agraph 7#ag7 ( section #dhg7;a7 ( !  
,high] ,education ,act ( #aife 7#bj     
,u4,s4,c4 #ajid7;a77 is am5d$ to read z 
foll[s3  7#ag7 ,! in/itution or !       
assign$ ag5t ( ! in/itution w collect & 
submit data to ! ,commission] =         
,education ,/ati/ics 9 accordance )     
section #acb7l71 ! non/ud5t relat$      
surveys )9 ! ,integrat$ ,po/second>y    
,education ,data ,sy/em 7,,ip$s71 or any
 o!r ,f$]al in/itution ( high] education
 data collection ef=t 7z designat$ by ! 
,secret>y71 9 a timely mann] & to !     
satisfaction ( ! ,secret>y4  4  7b7     
,effective date ,! am5dm5t made by      
subsection 7a7 %all take effect on !    

date t is #d ye>s aft] ! date ( enactm5t
 ( ?is ,act4  #ajd4 ,transition         
provisions ,! ,secret>y ( ,education & !
 ,commission] = ,education ,/ati/ics    
%all take su* /eps z are necess>y to    
ensure t ! developm5t & ma9t5ance ( !   
po/second>y /ud5t data sy/em requir$ "u 
section #acb7l7 ( ! ,high] ,education   
,act ( #aife1 z add$ by section #aja (  
?is ,act1 occurs 9 a mann] t r$uces !   
report+ burd5 = entities t report$ into 
! ,integrat$ ,po/second>y ,education    
,data ,sy/em 7,,ip$s74  ,,ii ,und]/&+ ! 
true co/ ( college  #bja4 ,in/itution   
,f9ancial ,aid ,(f] ,=m ,section #dhd ( 
! ,high] ,education ,opportunity ,act   
7#bj ,u4,s4,c4 #ajib note7 is am5d$ to  
read z foll[s3  #dhd4 ,in/itution       
,f9ancial ,aid ,(f] ,=m  7a7 ,/&>d =mat 
& t]m9ology ,! ,secret>y ( ,education1 9
 consultation ) ! heads ( relevant      
,f$]al ag5cies1 %all develop /&>d       
t]m9ology & a /&>d =mat = f9ancial aid  
(f] =ms bas$ on recomm5dations f        
repres5tatives ( /ud5ts1 vet]ans1       

s]vicememb]s1 /ud5ts' families1         
in/itutions ( high] education 7includ+  
community colleges1 =-pr(it in/itutions1
 f\r-ye> public in/itutions1 & f\r-ye>  
private nonpr(it in/itutions71 f9ancial 
aid exp]ts1 second>y s*ool & po/second>y
 c\nselors1 nonpr(it organizations1 &   
consum] gr\ps4  7b7 ,key requir$ cont5ts
 = (f] =m ,! /&>d =mat develop$ "u      
subsection 7a7 %all include1 9 a        
consum]-fri5dly mann] t is simple &     
und]/&able1 a =m titl$ ,f9ancial ,aid   
,(f]1 :i* %all include ! foll[+ items1 )
 co/s li/$ fir/ foll[$ by grants &      
s*ol>%ips1 cle>ly sep>at$ f ea* o!r )   
sep>ate head+s3 7#a7 ,co/ in=mation     
7,a7 ,in=mation on ! /ud5t's e/imat$ co/
 ( att5dance1 includ+ ! foll[+3  7i7    
,total direct co/s1 includ+ ! compon5t  
totals ea* =-- 7,i7 tuition & fees1 z   
det]m9$ "u section #dgb ( ! ,high]      
,education ,act ( #aife 7#bj ,u4,s4,c4  
#ajhgll72 &  7,,ii7 college-sponsor$    
h\s+ & food co/s 7z det]m9$ bas$ on !   
co/s = room & bo>d "u su* section74     

7ii7 ,total e/imat$ o!r exp5ses1        
includ+--  7,i7 ! compon5t totals ea* = 
h\s+ & food co/s = /ud5ts :o reside     
(f-campus2 &  7,,ii7 = all /ud5ts1      
books1 supplies1 transportation1 &      
miscellane\s p]sonal exp5ses 7:i* may   
include co/s ( heal? insurance & dep5d5t
 c>e71 z det]m9$ "u section #dgb ( !    
,high] ,education ,act ( #aife 7#bj     
,u4,s4,c4 #ajhgll74  7,b7 ,an indication
 ( ! academic p]iod cov]$ by ! f9ancial 
aid (f]1 & an explanation t ! f9ancial  
aid (f]$ may *ange = academic p]iods n  
cov]$ by ! aid (f] or by program4  7,c7 
,an indication ( :e!r co/ & aid e/imates
 are bas$ on full-"t or "p-"t enrollm5t4
  7,d7 ,an indication1 z applicable1    
ab\t :e!r ! tuition & fees are e/imat$  
bas$ on ! previ\s ye>1 or are set1 = !  
academic p]iod indicat$ 9 accordance )  
subp>agraph 7,b74  7#b7 ,grants &       
s*ol>%ips ,! aggregate am\nt ( grants & 
s*ol>%ips by s\rce t ! /ud5t does n h to
 repay1 su* z grant aid (f]$ "u title   
,,iv ( ! ,high] ,education ,act ( #aife 

7#bj ,u4,s4,c4 #ajgj et seq47 & grant   
aid (f]$ ?r\gh o!r ,f$]al programs1     
grant aid (f]$ by ! in/itution1 grant   
aid (f]$ by ! ,/ate1 &1 if kn[n1 grant  
aid f an outside s\rce to ! /ud5t = su* 
academic p]iod1 includ+--  7,a7 a       
disclosure t ! grants & s*ol>%ips d n h 
to be repaid2 &  7,b7 if in/itutional   
aid is includ$--  7i7 ! conditions "u   
:i* ! /ud5t c expect to receive simil>  
am\nts ( su* f9ancial aid = ea* academic
 p]iod ! /ud5t is enroll$ at !          
in/itution2 &  7ii7 :e!r ! in/itutional 
aid (f] may *ange if grants or s*ol>%ips
 f outside s\rces are appli$ aft] !     
/ud5t receives ! (f] =m1 &1 if          
applicable1 h[ t aid w *ange4  7#c7 ,net
 price  7,a7 ,! net price t ! /ud5t1 or 
! /ud5t's family on behalf ( ! /ud5t1 is
 e/imat$ to h to pay = ! /ud5t to att5d 
! in/itution = su* academic p]iod1 equal
 to-- 7i7 ! co/ ( att5dance z describ$ 9
 p>agraph 7#a77;,a7 = ! /ud5t = ! p]iod 
indicat$ 9 p>agraph 7#a77;,b72 m9us     
7ii7 ! am\nt ( grant aid describ$ 9     

p>agraph 7#b7 t is includ$ 9 ! f9ancial 
aid (f] =m4  7,b7 ,a disclosure t ! net 
price is an e/imate ( ! total exp5ses = 
! ye> & n equival5t to ! am\nt ! /ud5t w
 owe directly to ! in/itution4  7#d7    
,loans  7,a7 ,in=mation on any loan "u  
"p ,d or "p ,e ( title ,,iv ( ! ,high]  
,education ,act ( #aife 7#bj ,u4,s4,c4  
#ajhg;a et seq42 #bj ,u4,s4,c4 #ajhg;aa 
et seq47 7except a ,f$]al ,direct ,,plus
 ,loan "u "p ,d ( t ,act7 t ! in/itution
 recomm5ds = ! /ud5t = ! academic p]iod 
cov]$ by ! (f]1 :i* %all be made-- 7i7 )
 cle> use ( ! ^w loan to describe !     
recomm5d$ loan am\nts2 &  7ii7 ) cle>   
label+ ( subsidiz$ & unsubsidiz$ loans4 
7,b7 ,a disclosure t su* loans h to be  
repaid & a disclosure t ! /ud5t c borr[ 
a less] or1 if applicable1 great] am\nt 
?an ! recomm5d$ loan am\nt4  7,c7 ,a    
disclosure t ! int]e/ rates & fees on   
su* loans are set annually & affect     
total co/ ov] "t1 & a l9k to a ,dep>tm5t
 ( ,education website t includes curr5t 
in=mation on int]e/ rates & fees4  7,d7 

,a l9k to ! ,dep>tm5t ( ,education's    
repaym5t calculator website = /ud5ts )  
in/ruction t ?is website conta9s        
cu/omizable e/imates ( expect$ repaym5t 
co/s "u diff]5t loan repaym5t plans4    
7#e7 ,process = accept+ or decl9+ aid & 
next /eps  7,a7 ,! deadl9es & a summ>y (
 ! process 7includ+ ! next /eps7 =-- 7i7
 accept+ ! f9ancial aid (f]$ 9 !        
f9ancial aid (f] =m2  7ii7 reque/+ high]
 loan am\nts if recomm5d$ loan am\nts 7 
includ$2 &  7iii7 decl9+ aid (f]$ 9 !   
=m4  7,b7 ,in=mation on :5 & h[ direct  
co/s to ! in/itution mu/ be paid4  7,c7 
,a disclosure t v]ification ( f9ancial  
circum/ances may require ! /ud5t to     
submit fur!r docum5tation4  7,d7        
,in=mation ab\t :]e a /ud5t or ! /ud5t's
 family c seek additional in=mation     
reg>d+ ! f9ancial aid (f]$1 includ+     
contact in=mation = ! in/itution's      
f9ancial aid (fice & ! ,dep>tm5t (      
,education's website on f9ancial aid4   
7#f7 ,additional in=mation ,any o!r     
in=mation ! ,secret>y ( ,education1 9   

consultation ) ! heads ( relevant ,f$]al
 ag5cies1 includ+ ! ,secret>y ( !       
,treasury & ! ,director ( ! ,bureau (   
,consum] ,f9ancial ,protection1 det]m9es
 necess>y 7bas$ on ! results ( ! consum]
 te/+ "u p>agraph 7g77#b77 s t /ud5ts & 
p>5ts c make in=m$ loan borr[+          
decisions1 :i* may include--  7,a7 ! mo/
 rec5t cohort default rate1 z def9$ 9   
section #dce7m7 ( ! ,high] ,education   
,act ( #aife 7#bj ,u4,s4,c4 #ajhe7m77 ) 
respect to an in/itution :]e m ?an #cj  
p]c5t ( enroll$ /ud5ts borr[ loans to   
pay = _! education1 & a comp>ison to !  
national av]age cohort default rate2    
7,b7 ! p]c5tage ( /ud5ts at ! in/itution
 :o borr[ /ud5t loans2  7,c7 ! m$ian    
loan debt at graduation = /ud5ts at !   
in/itution 7cle>ly m>k$ z includ+ only  
,f$]al loans if private loan data are n 
available to be includ$72 &  7,d7 any   
additional calculations det]m9$ necess>y
 = ensur+ t /ud5ts und]/& full college  
co/s1 f9ancial aid gaps1 & options =    
cov]+ ^? gaps4  7c7 ,o!r requir$ cont5ts

 = ! (f] =m ,! /&>d =m develop$ "u      
subsection 7a7 %all include1 9 addition 
to ! in=mation describ$ 9 subsection    
7b71 ! foll[+ in=mation to be includ$ on
 ! f9ancial aid (f] =m 9 a concise =mat 
det]m9$ by ! ,secret>y ( ,education1 9  
consultation ) ! heads ( relevant ,f$]al
 ag5cies3 7#a7 ,at ! in/itution's       
discretion--  7,a7 additional options & 
pot5tial res\rces = pay+ = ! am\nt li/$ 
9 subsection 7b77#c71 su* z tuition     
paym5t plans2 &  7,b7 a disclosure t    
,f$]al ,direct ,,plus ,loans or private 
education loans may be available to cov]
 rema9+ ne$1 except t ! in/itution may n
 include an am\nt = ,f$]al ,direct      
,,plus ,loans or private education loans
 & mu/ include a disclosure = ,f$]al    
,direct ,,plus ,loans t su* loans are   
subject to an additional application    
process1 & a disclosure t bo? types (   
loans h to be repaid by ! borr[]1 & may 
n be eligible = all ! b5efits available 
= ,f$]al ,direct ,/af=d ,loans or ,f$]al
 ,direct ,unsubsidiz$ ,/af=d ,loans4    

7#b7 ,! foll[+ in=mation relat+ to      
private /ud5t loans3 7,a7 ,a /atem5t t  
/ud5ts consid]+ borr[+ to cov] ! co/ (  
att5dance %\ld consid] available ,f$]al 
/ud5t loans prior to apply+ = private   
education loans1 includ+ an explanation 
t ,f$]al /ud5t loans (f] g5]ally m      
favorable t]ms & b5eficial repaym5t     
options ?an private loans4  7,b7 ,!     
impact ( a propos$ private education    
loan on ! /ud5t's pot5tial eligibility =
 o!r f9ancial assi/ance1 includ+ ,f$]al 
f9ancial assi/ance "u title ,,iv ( !    
,high] ,education ,act ( #aife 7#bj     
,u4,s4,c4 #ajgj et seq474  7,c7 ,a      
/atem5t expla9+ ! /ud5t's ability to    
select a private educational l5d] ( !   
/ud5t's *oice4  7#c7 ,in=mation on      
"w-/udy employm5t opportunities1 (f]$ 9 
accordance ) "p ,c ( title ,,iv ( !     
,high] ,education ,act ( #aife 7#bj     
,u4,s4,c4 #ajhg-ea et seq47 includ+ a   
disclosure t ! "w-/udy aid (f]$ is      
subject to ! availability ( qualifi$    
employm5t opportunities & is disburs$   

ov] "t z e>n$ by ! /ud5t4 ,"w-/udy      
employm5t opportunities 7or a /ud5t's   
pot5tial income bas$ on ^?              
opportunities7 %all n be includ$ 9 !    
category ( f9ancial aid describ$ "u     
subsection 7b77#b74  7d7 ,additional    
requirem5ts = f9ancial aid (f] =m ,!    
f9ancial aid (f] =m %all meet ! foll[+  
requirem5ts3  7#a7 ,include1 9 addition 
to ! requirem5ts describ$ 9 subsections 
7b7 & 7c71 a concise summ>y1 9 pla9     
language1 (-- 7,a7 ! t]ms & conditions (
 f9ancial aid recomm5d$ "u p>agraphs    
7#b7 & 7#d7 ( subsection 7b7 &          
subsection 7c77#c71 & a me?od to provide
 /ud5ts ) additional in=mation ab\t su* 
t]ms & conditions1 su* z l9ks to !      
supplem5t>y in=mation2 &  7,b7 ,f$]al1  
,/ate1 or in/itutional conditions       
requir$ to receive & r5ew f9ancial aid &
 a me?od to provide /ud5ts ) additional 
in=mation ab\t ^! conditions1 su* z l9ks
 to ! supplem5t>y in=mation4  7#b7      
,cle>ly di/+ui% betwe5 ! aid (f]$ "u    
p>agraphs 7#b7 & 7#d7 ( subsection 7b7 &

 subsection 7c77#c71 by includ+ a       
subtotal = ! aid (f]$ 9 ea* ( su*       
p>agraphs & by refra9+ f comm+l+ !      
diff]5t types ( aid describ$ 9 su*      
p>agraphs4  7#c7 ,use /&>d t]m9ology &  
def9itions1 z describ$ 9 subsection     
7e77#a7 & use pla9 language :]e         
possible4  7#d7 ,if an in/itution's     
recomm5d$ ,f$]al /ud5t loan aid (f]$ 9  
subsection 7b77#d7 is less ?an ! ,f$]al 
maximum available to ! /ud5t1 !         
in/itution %all provide additional      
in=mation on ,f$]al /ud5t loans1 includ+
 ! types & am\nts = :i* ! /ud5t is      
eligible 9 an atta*$ docum5t or web     
page4  7#e7 ,use ! /&>d (f] =m describ$ 
9 subsection 7e77#b74  7#f7 ,include !  
/&>diz$ /atem5t reg>d+ ! possible       
availability ( ,f$]al education b5efits1
 z e/abli%$ by ! ,secret>y 9 accordance 
) subsection 7e77#c74  7#g7 ,include a  
deliv]y confirmation = electronic       
f9ancial aid (f] =ms1 except t receipt (
 ! f9ancial aid (f] =m %all n be        
consid]$ an acceptance or rejection (   

aid by ! /ud5t4  7#h7 ,) respect to     
dep5d5t /ud5ts1 any ref]5ce to private  
education loans %all be accompani$ by-- 
7,a7 in=mation ab\t ! availability (1 & 
t]ms & conditions associat$ )1 ,f$]al   
,direct ,,plus ,loans "u section #dee ( 
! ,high] ,education ,act ( #aife 7#bj   
,u4,s4,c4 #ajhg;e7 = ! /ud5t's p>5ts    
reg>dless ( family income2 &  7,b7 a    
notification ( ! /ud5t's increas$       
eligibility = ,f$]al /ud5t loans "u     
title ,,iv ( ! ,high] ,education ,act ( 
#aife 7#bj ,u4,s4,c4 #ajgj et seq47 if !
 /ud5t's p>5ts are n able to borr[ "u ! 
,f$]al ,direct ,,plus ,loan program4    
7e7 ,/&>d in=mation e/abli%$ by !       
,secret>y  7#a7 ,/&>d t]m9ology ,n lat] 
?an #c mon?s aft] ! date ( enactm5t ( ! 
,l[]+ ,education ,co/s & ,debt ,act1 !  
,secret>y ( ,education1 9 consultation )
 ! heads ( relevant ,f$]al ag5cies1     
includ+ ! ,secret>y ( ! ,treasury & !   
,director ( ! ,consum] ,f9ancial        
,protection ,bureau1 repres5tatives (   
in/itutions ( high] education1 nonpr(it 

consum] gr\ps1 /ud5ts1 & second>y s*ool 
& high] education guidance c\nselors1   
%all e/abli% /&>d t]m9ology & def9itions
 = ! t]ms describ$ 9 subsection 7b74    
7#b7 ,/&>d =m  7,a7 ,9 g5]al ,!         
,secret>y ( ,education %all develop     
multiple draft f9ancial aid (f] =ms =   
consum] te/+1 c>ry out consum] te/+ =   
su* =ms1 & e/abli% a f9aliz$ /&>d       
f9ancial aid (f] =m1 9 accordance ) !   
process e/abli%$ 9 subsection 7g7 & !   
requirem5ts ( ?is section4  7,b7        
,sep>ate f9ancial aid (f] =ms ,!        
,secret>y may develop sep>ate f9ancial  
aid (f] =ms =-- 7i7 und]graduate /ud5ts 
& graduate /ud5ts2 &  7ii7 fir/-"t      
/ud5ts & return+ /ud5ts4  7#c7          
,additional b5efits ,! ,secret>y (      
,education1 9 consultation ) ! heads (  
relevant ,f$]al ag5cies1 includ+ !      
,secret>y ( ! ,treasury1 ! ,secret>y (  
,vet]ans ,affairs1 ! ,secret>y (        
,def5se1 & ! ,director ( ! ,consum]     
,f9ancial ,protection ,bureau1 %all     
e/abli% /&>d language notify+ /ud5ts t  

!y may be eligible = education b5efits  
7& :]e /ud5ts c locate m in=mation ab\t 
su* b5efits7 includ+ b5efits 9          
accordance ) ea* ( ! foll[+3  7,a7      
,*apt] #cj1 #ca1 #cb1 #cc1 #cd1 or #ce (
 title #ch1 ,unit$ ,/ates ,code4  7,b7  
,*apt] #aja1 #aje1 #ajf;,a1 #afjf1      
#afjg1 or #afjh ( title #aj1 ,unit$     
,/ates ,code4  7,c7 ,section #aghd;a1   
#bjje1 or #bjjg ( title #aj1 ,unit$     
,/ates ,code4  7f7 ,supplem5tal         
in=mation2 removal ( in=mation  7#a7    
,no?+ 9 ?is section %all preclude an    
in/itution f supplem5t+ ! f9ancial aid  
(f] =m ) additional in=mation if su*    
additional in=mation supplem5ts !       
f9ancial aid (f] =m & is n locat$ on !  
f9ancial aid (f] =m1 & provid$ su*      
in=mation utilizes ! same /&>d t]m9ology
 id5tifi$ 9 subsection 7e77#a74  7#b7   
,no?+ 9 ?is section %all preclude an    
in/itution f delet+ a requir$ item if ! 
/ud5t is ineligible = su* aid4  7g7     
,developm5t ( f9ancial aid (f] =m  7#a7 
,draft =m ,n lat] ?an #i mon?s aft] !   

date ( enactm5t ( ! ,l[]+ ,education    
,co/s & ,debt ,act1 ! ,secret>y (       
,education1 9 consultation ) ! heads (  
relevant ,f$]al ag5cies1 includ+ !      
,secret>y ( ! ,treasury & ! ,director ( 
! ,consum] ,f9ancial ,protection        
,bureau1 repres5tatives ( in/itutions ( 
high] education1 nonpr(it consum] gr\ps1
 /ud5ts1 & second>y s*ool & high]       
education guidance c\nselors1 %all      
design & produce multiple draft f9ancial
 aid (f] =ms = consum] te/+ )           
po/second>y /ud5ts or prospective       
/ud5ts4 ,9 develop+ t =m1 ! ,secret>y   
%all ensure--  7,a7 t ! head+s describ$ 
9 p>agraphs 7#a7 ?r\gh 7#d7 ( subsection
 7b7 are 9 ! same font1 appe> 9 ! same  
ord]1 & are display$ prom95tly on !     
f9ancial aid (f] =m1 su* t none ( t     
in=mation is inappropriately omitt$ or  
de-emphasiz$2  7,b7 t ! o!r in=mation   
requir$ 9 subsection 7b7 appe>s 9 a /&>d
 =mat & design on ! f9ancial aid (f] =m2
 &  7,c7 t ! in/itution may include a   
logo or br& alongside ! title ( !       

f9ancial aid (f] =m4  7#b7 ,consum] te/+
  7,a7 ,9 g5]al ,n lat] ?an #i mon?s    
aft] ! date ( enactm5t ( ! ,l[]+        
,education ,co/s & ,debt ,act1 !        
,secret>y ( ,education1 9 consultation )
 ! heads ( relevant ,f$]al ag5cies1 %all
 e/abli% a process to submit ! f9ancial 
aid (f] =m drafts develop$ "u p>agraph  
7#a7 = consum] te/+ among repres5tatives
 ( /ud5ts 7includ+ l[-income /ud5ts1    
fir/ g5]ation college /ud5ts1 adult     
/ud5ts1 vet]ans1 s]vicememb]s1 &        
prospective /ud5ts71 /ud5ts' families   
7includ+ l[-income families1 families ) 
fir/ g5]ation college /ud5ts1 & families
 ) prospective /ud5ts71 in/itutions (   
high] education1 second>y s*ool &       
po/second>y c\nselors1 & nonpr(it       
consum] gr\ps4  7,b7 ,pilot ,dur+ su*   
consum] te/+1 ! ,secret>y %all ensure t 
n less ?an #af & n m ?an #bd eligible   
in/itutions use ! draft =ms develop$ "u 
p>agraph 7#a71 includ+ in/itutions-- 7i7
 t reflect a proportionate repres5tation
 7bas$ on ! total numb] ( /ud5ts enroll$

 9 po/second>y education7 ( community   
colleges1 =-pr(it in/itutions1 f\r-ye>  
public in/itutions1 & f\r-ye> private   
nonpr(it in/itutions2 &  7ii7 t reflect 
geographic div]sity4  7,c7 ,l5g? (      
consum] te/+ ,! ,secret>y ( ,education  
%all ensure t ! consum] te/+ "u ?is     
p>agraph la/s no long] ?an #h mon?s aft]
 ! process = consum] te/+ is develop$ "u
 subp>agraph 7,a74  7#c7 ,f9al =m  7,a7 
,9 g5]al ,! results ( consum] te/+ "u   
p>agraph 7#b7 %all be us$ 9 ! f9al      
developm5t ( ! f9ancial aid (f] =m4     
7,b7 ,report+ requirem5t ,n lat] ?an #c 
mon?s aft] ! date ! consum] te/+ "u     
p>agraph 7#b7 concludes1 ! ,secret>y (  
,education %all submit to ,congress &   
publi% on its website ! f9al /&>d       
f9ancial aid (f] =m & a report detail+ !
 results ( su* te/+1 includ+ :e!r !     
,secret>y ( ,education add$ any         
additional items to ! /&>d f9ancial aid 
(f] =m pursuant to subsection 7b77#f74  
7#d7 ,au?ority to modify ,! ,secret>y ( 
,education may modify ! def9itions1     

t]ms1 =matt+1 & design ( ! f9ancial aid 
(f] =m bas$ on ! results ( consum] te/+ 
requir$ "u ?is subsection & be=e f9aliz+
 ! =m1 or 9 subsequ5t consum] te/+4 ,!  
,secret>y may also recomm5d additional  
*anges to ,congress4  4  #bjb4 ,m&atory 
=m ,"p ,b ( title ,i ( ! ,high]         
,education ,act ( #aife 7#bj ,u4,s4,c4  
#ajaa et seq47 is am5d$ by add+ at ! end
 ! foll[+3  #abd4 ,use ( m&atory        
f9ancial aid (f] =m & t]ms  7a7 ,9 g5]al
 ,not)/&+ any o!r provision ( law1 ea*  
in/itution ( high] education t receives 
,f$]al f9ancial assi/ance "u ?is ,act   
%all-- 7#a7 use ! f9ancial aid (f] =m   
develop$ "u section #dhd ( ! ,high]     
,education ,opportunity ,act 7#bj       
,u4,s4,c4 #ajib note7 9 provid+ pap]1   
mobile-optimiz$ (f]s1 or o!r electronic 
(f]s to all /ud5ts :o apply = aid & are 
accept$ at ! in/itution2 &  7#b7 use !  
/&>d t]m9ology & def9itions develop$ by 
! ,secret>y ( ,education "u subsection  
7e77#a7 ( t ,act = all communications f 
! in/itution relat$ to f9ancial aid     

(f]s4  7b7 ,effective dates ,!          
requirem5ts "u ?is section %all take    
effect at ! />t ( ! fir/ aw>d ye> aft] !
 ,secret>y ( ,education f9alizes ! /&>d 
t]m9ology & =m develop$ 9 accordance )  
section #dhd ( ! ,high] ,education      
,opportunity ,act 7#bj ,u4,s4,c4 #ajib  
note74  4  7c7 ,adm9i/rative proc$ures  
,section #dib ( ! ,high] ,education ,act
 7#bj ,u4,s4,c4 #ajih;a7 %all n apply ) 
respect to regulations promulgat$ 9     
accordance ) ?is section4  4  ,,iii     
,in=m$ /ud5t borr[+  #cja4 ,c\nsel+ &   
f9ancial aid disclosures ,section       
#dhe7l7 ( ! ,high] ,education ,act (    
#aife 7#bj ,u4,s4,c4 #ajib7l77 is       
am5d$--  7#a7 9 ! subsection head+1 by  
/rik+ ,entrance2  7#b7 9 p>agraph       
7#a77;,a7--  7,a7 9 ! matt] prec$+      
clause 7i71 by /rik+ a disbursem5t to a 
fir/-"t borr[] & ins]t+ ! fir/          
disbursem5t to a borr[] 9 ea* aw>d ye>2 
&  7,b7 9 ! matt] prec$+ subclause 7,i7 
( p>agraph clause 7ii71 by /rik+ may &  
ins]t+ %all2  7#c7 9 p>agraph 7#b7--    

7,a7 by r$esignat+ subp>agraphs 7,a7    
?r\gh 7,k7 z subp>agraphs 7,b7 ?r\gh    
7,l72  7,b7 by ins]t+ be=e subp>agraph  
7,b71 z s r$esignat$1 ! foll[+3  7,a7   
,an explanation t ! borr[] w ne$ to     
affirmatively det]m9e & manually ent]1 9
 accordance ) subsection 7n71 ! ,f$]al  
loan am\nt t ! borr[] w borr[ 7:i* may  
be equal to or less ?an ! ,f$]al loan   
am\nt = :i* ! borr[] is eligible7 = ea* 
aw>d ye>4  2  7,c7 by /rik+ subp>agraph 
7,g7 & ins]t+ ! foll[+3  7,g7 ,sample   
mon?ly repaym5t am\nts1 "u a /&>d       
repaym5t plan & "u ! income-driv5       
repaym5t plan t _h ! highe/ enrollm5t 9 
! previ\s ye> = borr[]s 7exclud+ p>5t   
borr[]s71 bas$ on--  7i7  7,i7 ! m$ian  
levels ( indebt$ness1 z appropriate1 (--
 7aa7 und]graduate borr[]s ( ,f$]al     
,direct ,/af=d ,loans or ,f$]al         
,unsubsidiz$ ,/af=d ,loans :o 7 enroll$ 
9 ! in/itution2  7bb7 graduate borr[]s (
 ,f$]al ,direct ,/af=d ,loans1 ,f$]al   
,unsubsidiz$ ,/af=d ,loans1 or ,f$]al   
,direct ,plus ,loans :o 7 enroll$ 9 !   

in/itution2 &  7cc7 p>5t borr[]s (      
,f$]al ,direct ,plus ,loans made on     
behalf ( dep5d5t /ud5ts :o 7 enroll$ at 
! in/itution2  7,,ii7 ! m$ian cumulative
 indebt$ness ( borr[]s ( loans describ$ 
9 subclause 7,i7 9 ! same program z !   
borr[] at ! same in/itution2 &  7ii7 !  
m$ian annual e>n+s = individuals :o     
att5d$ ! in/itution1 z describ$ 9       
subp>agraph 7,n74  2 &  7,d7 by add+ at 
! end ! foll[+3  7,m7 ,a /atem5t t !    
borr[] does n h to accept ! full am\nt (
 loans = :i* ! borr[] is eligible1 & an 
explanation t loan eligibility          
calculations are det]m9$ bas$ on a co/ (
 att5dance t may include exp5ses su* z  
h\s+1 food1 & transportation4  7,n7 ,!  
mo/ rec5t ,college ,scorec>d in=mation  
7or in=mation f a simil> successor      
website7 t %[s ! m$ian annual e>n+s (   
/ud5ts :o receiv$ ,f$]al /ud5t aid & :o 
are no long] enroll$ at ! in/itution &  
are work+1 at ! "t t is #aj ye>s aft] ! 
date ( su* /ud5ts' entry to !           
in/itution-- 7i7 = individuals :o 7     

enroll$ 9 ! in/itution2 &  7ii7 if      
available ?r\gh ! ,college ,scorec>d 7or
 simil> successor website71 =           
individuals :o 7 enroll$ 9 ! borr[]'s   
und]graduate or graduate program4  7,o7 
,! p]c5tage ( borr[]s :o att5d$ !       
in/itution & h complet$ or are no long] 
enroll$ t are 9 active repaym5t 7z      
comp>$ to all borr[]s :o att5d$ !       
in/itution & h complet$ or are no long] 
enroll$74  7,p7 ,= und]graduate borr[]s1
 ! completion rate ( ! in/itution1 z    
available ?r\gh ! ,college ,scorec>d 7or
 simil> successor website71 = ! mo/     
rec5t ye> = :i* data are available4     
7,q7 ,a /atem5t t--  7i7 ! /ati/ics     
provid$ "u ?is p>agraph are av]ages &   
m$ian values bas$ on pa/ ye>s2  7ii7 !  
borr[]'s repaym5t am\nts1 m$ian e>n+s1 &
 likelihood ( completion may v>y f su*  
/ati/ics2 &  7iii7 z appropriate1 p>5t  
borr[]s %\ld be aw>e t in=mation ab\t ! 
m$ian e>n+s1 completion rate1 & p]c5tage
 ( borr[]s 9 active repaym5t is bas$ on 
data t excludes p>5t borr[]s4  7,r7 ,a  

/atem5t 9 writ+ & 9 a =m ! borr[] may   
keep1 ( ! annual p]c5tage rate          
applicable to ! loan bas$ on a #aj-ye>  
/&>d repaym5t plan1 tak+ into acc\nt--  
7i7 ! am\nt ( ! loan2  7ii7 ! /at$      
int]e/ rate ( ! loan2  7iii7 ! /&>d t]m 
= a loan ( ! same type2  7iv7 any fees  
or additional co/s associat$ ) ! loan2 &
  7v7 any capitalization ( int]e/ on !  
loan4  2 &  7#d7 by add+ at ! end !     
foll[+3  7#c7 ,in=mation f ! ,dep>tm5t (
 ,education ,! ,secret>y %all provide   
in/itutions ) ! data & /ati/ics necess>y
 to enable in/itutions to c>ry out ?is  
subsection4  4  #cjb4 ,annual requirem5t
 to manually ent] loan am\nt ,section   
#dhe ( ! ,high] ,education ,act ( #aife 
7#bj ,u4,s4,c4 #ajib71 z am5d$ by       
section #cja1 is fur!r am5d$ by add+ at 
! end ! foll[+3  7n7 ,annual requirem5t 
,to manually ent] loan am\nt  7#a7 ,9   
g5]al ,9 addition to ! o!r requirem5ts (
 ?is section & 9 accordance ) p>agraph  
7#b71 ea* eligible in/itution %all      
ensure t1 = ea* aw>d ye>1 ea* borr[]    

enroll$ 9 ! in/itution :o receives a    
,f$]al ,direct ,loan 7o!r ?an a ,f$]al  
,direct ,consolidation ,loan7 & ea* p>5t
 borr[] :o is borr[+ a ,f$]al ,direct   
,,plus ,loan made on behalf ( a /ud5t :o
 is enroll$ 9 ! in/itution1 = su* ye>1  
%all manually ent]1 ei!r 9 writ+ or     
?r\gh electronic means1 ! exact doll>   
am\nt ( ,f$]al ,direct ,loan fund+ t su*
 borr[] desires to borr[ = su* ye>4     
7#b7 ,me?od ,! eligible in/itution %all 
ensure t ! borr[] c>ries out ! activity 
describ$ 9 p>agraph 7#a7--  7,a7 9 !    
case ( a /ud5t borr[]1 9 ! c\rse ( !    
process us$ by ! in/itution = /ud5ts to 
accept a /ud5t loan aw>d2  7,b7 prior to
 ! in/itution c]tify+ a ,f$]al ,direct  
,loan 7o!r ?an a ,f$]al ,direct         
,consolidation ,loan71 includ+ a ,f$]al 
,direct ,,plus ,loan made on behalf ( a 
/ud5t1 = disbursem5t to a borr[]2 &     
7,c7 9 ! case ( a /ud5t borr[]1 aft]    
ensur+ t ! /ud5t has complet$ all ( !   
c\nsel+ requirem5ts "u subsection 7l74  
4  #cjc4 ,"w /udy ,section #dhe ( !     

,high] ,education ,act ( #aife 7#bj     
,u4,s4,c4 #ajib71 z am5d$ by sections   
#cja & #cjb1 is fur!r am5d$ by add+ at !
 end ! foll[+3  7o7 ,"w /udy ,if an     
in/itution provides a /ud5t or a        
prospective /ud5t ) a f9ancial aid aw>d 
notification t includes "w /udy1 !      
in/itution %all ensure t ! notification 
includes an explanation t any "w /udy   
funds are n directly aw>d$ to ! /ud5t or
 in/itution1 & su* am\nts mu/ be e>n$   
?r\gh ! /ud5t's completion ( "w ov] "t4 
4  ,,iv ,/reaml9+ ,acc\ntability &      
,value 9 ,education = ,/ud5ts  #dja4    
,loan repaym5t simplification &         
income-driv5 repaym5t re=m ,section #dee
 ( ! ,high] ,education ,act ( #aife 7#bj
 ,u4,s4,c4 #ajhg;e7 is am5d$--  7#a7 9  
subsection 7d7-- 7,a7 9 p>agraph 7#a7-- 
7i7 9 subp>agraph 7,b71 by ins]t+ n lat]
 ?an ,june #cj1 #bjbd1 be=e a graduat$2 
7ii7 9 subp>agraph 7,c71 by ins]t+ n    
lat] ?an ,june #cj1 #bjbd1 be=e an      
ext5d$2  7iii7 9 subp>agraph 7,d7-- 7,i7
 by ins]t+ n lat] ?an ,june #cj1 #bjbd1 

be=e an income cont+5t2 &  7,,ii7 by    
/rik+ & aft] ! semicolon2  7iv7 9       
subp>agraph 7,e7--  7,i7 by ins]t+ & n  
lat] ?an ,june #cj1 #bjbd1 aft] beg9n+  
on ,july #a1 #bjji12 &  7,,ii7 by /rik+ 
! p]iod at ! end & ins]t+ 2 &2 &  7v7 by
 add+ at ! end ! foll[+3  7,f7 beg9n+ on
 ,july #a1 #bjbd1 an income cont+5t     
repaym5t plan kn[n z ! ,revis$ ,pay ,z  
,y ,e>n ,repaym5t plan1 consi/5t )      
subsection 7e77#i74  2  7,b7 9 p>agraph 
7#b71 by /rik+ 9 subp>agraph 7,a71 7,b71
 or 7,c7 ( p>agraph 7#a7 & ins]t+ 9     
subp>agraph 7,a7 or 7,f7 ( p>agraph     
7#a72 &  7,c7 9 p>agraph 7#d71 by ins]t+
 n lat] ?an ,june #cj1 #bjbd1 & aft] ,! 
,secret>y may provide12 &  7#b7 9       
subsection 7e71 by add+ at ! end !      
foll[+3  7#i7 ,revis$ ,pay ,z ,y ,e>n   
,repaym5t plan  7,a7 ,9 g5]al ,!        
,secret>y %all c>ry out a ,revis$ ,pay  
,z ,y ,e>n ,repaym5t plan 9 accordance )
 section #fhe4bji7;c7 ( title #cd1 ,code
 ( ,f$]al ,regulations1 z 9 effect on   
,decemb] #ag1 #bjae1 except z o!rwise   

provid$ 9 ?is p>agraph z foll[s3  7i7 ,a
 borr[] may complete loan rehabilitation
 on a default$ loan ?r\gh mak+ eligible 
paym5ts 9 accordance ) ?is p>agraph = #i
 consecutive mon?s4  7ii7 ,a borr[] :o  
no long] wi%es to repay "u ! ,revis$    
,pay ,z ,y ,e>n ,repaym5t plan may *ange
 only to a /&>d repaym5t plan4  7iii7 ,9
 addition to t provid$ "u p>agraph      
7#e77;iv7 ( su* section #fhe4bji7;c71 a 
qualify+ mon?ly paym5t may also include 
a mon? = :i* ! borr[] receiv$-- 7,i7    
def]m5t "u subsection 7f77#c7 due to    
receiv+ treatm5t = canc]2  7,,ii7       
def]m5t "u subsection 7f77#b7 =         
rehabilitation tra9+2  7,,iii7 def]m5t  
"u subsection 7f77#b7 = unemploym5t2    
7,,iv7 def]m5t "u subsection 7f77#b7 =  
economic h>d%ip1 includ+ any p]iod (    
def]m5t = ,peace ,corps s]vice2  7,v7   
def]m5t "u subsection 7f77#b7 = milit>y 
s]vice2  7,,vi7 def]m5t "u subsection   
7f77#b7 = po/-active duty s]vice2       
7,,vii7 =be>ance "u section             
#dbh7;c77#c77;,a77i77,,iii71 = national 

s]vice2  7,,viii7 =be>ance "u section   
#fhe4bje7;a77#g7 ( title #cd1 ,code (   
,f$]al ,regulations1 = ,national ,gu>d  
,duty2  7,,ix7 =be>ance "u section      
#dbh7;c77#c77;,a77i77,,iv71 = s]vice =  
:i* ! borr[] w\ld qualify = a p>tial    
repaym5t ( 8 or h] loan "u ! ,/ud5t     
,loan ,repaym5t ,programs adm9i/]$ by ! 
,dep>tm5t ( ,def5se2 or  7,x7           
adm9i/rative =be>ance "u p>agraph 7#h7  
or 7#i7 ( section #fhe4bje7;b7 ( title  
#cd1 ,code ( ,f$]al ,regulations4  7iv7 
,a borr[] %all be automatically enroll$ 
9 a ,revis$ ,pay ,z ,y ,e>n ,repaym5t   
plan = a loan at #ge days del9qu5t on   
su* loan4  7v7 ,a borr[] :o miss$       
qualify+ paym5ts dur+ a =be>ance or     
def]m5t p]iod n li/$ 9 clause 7iii71    
%all h ! opportunity to provide a back  
paym5t = ! miss$ paym5ts 9 ord] h ^?    
paym5ts c\nt$ t[>d ! #bj-ye> or #be-ye> 
=giv5ess p]iod1 except !re %all be no   
opportunity to provide a back paym5t =  
p]iods ( 9-s*ool def]m5t4  7vi7 ,= a    
borr[] :o is solely an und]graduate     

borr[]--  7,i7 :o has borr[$ #aj1jjj or 
less 9 total 9 loans "u ?is "p1 n       
includ+ loan fees1 ! ,secret>y may      
det]m9e t ! borr[] has met ! loan       
=giv5ess requirem5ts aft] #abj paym5ts  
"u ! ,revis$ ,pay ,z ,y ,e>n ,repaym5t  
plan2  7,,ii7 :o has borr[$ m ?an       
#aj1jjj b #aa1jjj or less 9 total 9     
loans "u ?is "p1 n includ+ loan fees1 ! 
,secret>y may det]m9e t ! borr[] has met
 ! loan =giv5ess requirem5ts aft] #acb  
paym5ts "u ! ,revis$ ,pay ,z ,y ,e>n    
,repaym5t plan2  7,,iii7 :o has borr[$ m
 ?an #aa1jjj b #ab1jjj or less 9 total 9
 loans "u ?is "p1 n includ+ loan fees1 !
 ,secret>y may det]m9e t ! borr[] has   
met ! loan =giv5ess requirem5ts aft]    
#add paym5ts "u ! ,revis$ ,pay ,z ,y    
,e>n ,repaym5t plan2  7,,iv7 :o has     
borr[$ m ?an #ab1jjj b #ac1jjj or less 9
 total 9 loans "u ?is "p1 n includ+ loan
 fees1 ! ,secret>y may det]m9e t !      
borr[] has met ! loan =giv5ess          
requirem5ts aft] #aef paym5ts "u !      
,revis$ ,pay ,z ,y ,e>n ,repaym5t plan2 

7,v7 :o has borr[$ m ?an #ac1jjj b      
#ad1jjj or less 9 total 9 loans "u ?is  
"p1 n includ+ loan fees1 ! ,secret>y may
 det]m9e t ! borr[] has met ! loan      
=giv5ess requirem5ts aft] #afh paym5ts  
"u ! ,revis$ ,pay ,z ,y ,e>n ,repaym5t  
plan2  7,,vi7 :o has borr[$ m ?an       
#ad1jjj b #ae1jjj or less 9 total 9     
loans "u ?is "p1 n includ+ loan fees1 ! 
,secret>y may det]m9e t ! borr[] has met
 ! loan =giv5ess requirem5ts aft] #ahj  
paym5ts "u ! ,revis$ ,pay ,z ,y ,e>n    
,repaym5t plan2  7,,vii7 :o has borr[$ m
 ?an #ae1jjj b #af1jjj or less 9 total 9
 loans "u ?is "p1 n includ+ loan fees1 !
 ,secret>y may det]m9e t ! borr[] has   
met ! loan =giv5ess requirem5ts aft]    
#aib paym5ts "u ! ,revis$ ,pay ,z ,y    
,e>n ,repaym5t plan2  7,,viii7 :o has   
borr[$ m ?an #af1jjj b #ag1jjj or less 9
 total 9 loans "u ?is "p1 n includ+ loan
 fees1 ! ,secret>y may det]m9e t !      
borr[] has met ! loan =giv5ess          
requirem5ts aft] #bjd paym5ts "u !      
,revis$ ,pay ,z ,y ,e>n ,repaym5t plan2 

7,,ix7 :o has borr[$ m ?an #ag1jjj b    
#ah1jjj or less 9 total 9 loans "u ?is  
"p1 n includ+ loan fees1 ! ,secret>y may
 det]m9e t ! borr[] has met ! loan      
=giv5ess requirem5ts aft] #baf paym5ts  
"u ! ,revis$ ,pay ,z ,y ,e>n ,repaym5t  
plan2 &  7,x7 :o has borr[$ m ?an       
#ah1jjj b #ai1jjj or less 9 total 9     
loans "u ?is "p1 n includ+ loan fees1 ! 
,secret>y may det]m9e t ! borr[] has met
 ! loan =giv5ess requirem5ts aft] #bbh  
paym5ts "u ! ,revis$ ,pay ,z ,y ,e>n    
,repaym5t plan4  7,b7 ,transf] ( borr[]s
 9 repaym5t ,not)/&+ any o!r provision (
 ?is ,act1 on ,july #a1 #bjbd1 !        
,secret>y %all transf] ea* borr[] :o is 
9 repaym5t on a loan made "u ?is "p "u  
an income cont+5t repaym5t plan pursuant
 to subsection 7d77#a77;,d7 to ! ,revis$
 ,pay ,z ,y ,e>n ,repaym5t plan "u ?is  
p>agraph4  4  #djb4 ,taxpay] & consum]  
protection on /ud5t loans ,section      
#dhg7;a7 ( ! ,high] ,education ,act (   
#aife 7#bj ,u4,s4,c4 #ajid7;a77 is am5d$
 by add+ at ! end ! foll[+3  7#cj7  7,a7

 ,! in/itution c]tifies t no funds      
available "u ?is title may be us$ by an 
und]graduate /ud5t = enrollm5t 9 an     
educational program (f]$ by ! in/itution
 t is describ$ 9 subp>agraph 7,b74  7,b7
 ,an educational program at an          
in/itution is describ$ 9 ?is subp>agraph
 if ! program is a program--  7i7 9 !   
case ( a program t aw>ds an associate's 
degree or a less] degree or cr$5tial1 9 
:i* ! m$ian e>n+s ( /ud5ts #f ye>s aft] 
! date ( entry into ! program :o are no 
long] enroll$ 9 ! program & are work+   
is1 = n less ?an #b ( ! #c ye>s prec$+ !
 date ( ! det]m9ation1 less ?an ! m$ian 
e>n+s ( a work+ adult :o is ag$ #be to  
#cd ) only a high s*ool diploma or its  
recogniz$ equival5t1 z det]m9$ "u       
subp>agraph 7,c7 & 9 accordance )       
subp>agraph 7,d72 or  7ii7 9 ! case ( a 
program t aw>ds a ba*elor's degree1 9   
:i* ! m$ian e>n+s ( /ud5ts #aj ye>s aft]
 ! date ( entry into ! program :o are no
 long] enroll$ 9 ! program & are work+  
is1 = n less ?an #b ( ! #c ye>s prec$+ !

 date ( ! det]m9ation1 less ?an ! m$ian 
e>n+s ( a work+ adult :o is ag$ #be to  
#cd ) only a high s*ool diploma or its  
recogniz$ equival5t1 z det]m9$ "u       
subp>agraph 7,c7 & 9 accordance )       
subp>agraph 7,d74  7,c7 ,! m$ian e>n+s (
 a work+ adult :o is ag$ #be to #cd )   
only a high s*ool diploma or its        
recogniz$ equival5t %all be bas$ on data
 f ! ,c5sus ,bureau-- 7i7 = ! ,/ate 9   
:i* ! in/itution is locat$2 or  7ii7 if 
few] ?an #ej p]c5t ( ! /ud5ts enroll$ 9 
! in/itution reside 9 ! ,/ate :]e !     
in/itution is locat$1 = ! entire ,unit$ 
,/ates4  7,d7 ,= any ye> = :i* !        
programmatic cohort is few] ?an #cj     
individuals1 ! ,secret>y %all--  7i7    
fir/1 aggregate additional ye>s (       
programmatic data 9 ord] to a*ieve a    
cohort ( at lea/ #cj individuals2  7ii7 
second1 aggregate additional cohort ye>s
 ( programmatic data = degrees or       
c]tificates ( equival5t l5g? 9 ord] to  
a*ieve a cohort ( at lea/ #cj           
individuals2 &  7iii7 if su* data _c be 

aggregat$1 use an in/itution-bas$       
und]graduate-level measure1 9 lieu ( a  
programmatic measure4  7,e7 ,an         
educational program %all n lose         
eligibility "u subp>agraph 7,a7 unless !
 in/itution has _h ! opportunity to     
appeal ! programmatic m$ian e>n+s (     
/ud5ts work+ & n enroll$ det]m9ation4   
,dur+ su* appeal1 ! ,secret>y may p]mit 
! educational program to cont9ue to     
p>ticipate 9 a program "u ?is title4 ,if
 an educational program cont9ues to     
p>ticipate 9 a program "u ?is title1 & !
 in/itution's appeal ( ! loss (         
eligibility is unsuccessful1 !          
in/itution %all pay to ! ,secret>y an   
am\nt equal to ! am\nt ( int]e/1 & any  
relat$ paym5ts made by ! ,secret>y 7or  
:i* ! ,secret>y is obligat$ to make7 )  
respect to loans made "u ?is title to   
/ud5ts att5d+1 or plann+ to att5d1 t    
educational program dur+ ! p5d5cy ( su* 
appeal4  7#ca7  7,a7 ,! in/itution      
c]tifies t no funds available "u ?is    
title may be us$ by a graduate /ud5t =  

enrollm5t 9 an educational program (f]$ 
by ! in/itution t is describ$ 9         
subp>agraph 7,b74  7,b7 ,an educational 
program at an in/itution is describ$ 9  
?is subp>agraph if ! program is a       
program--  7i7 9 ! case ( a program t   
aw>ds a ma/]'s degree or a less] degree 
or cr$5tial1 9 :i* ! m$ian e>n+s (      
/ud5ts #f ye>s aft] ! date ( entry into 
! program :o are no long] enroll$ 9 !   
program & are work+ is1 = n less ?an #b 
( ! #c ye>s prec$+ ! date ( !           
det]m9ation1 less ?an ! m$ian e>n+s ( a 
work+ adult :o is ag$ #be to #cd ) only 
a ba*elor's degree1 z det]m9$ "u        
subp>agraph 7,c7 & 9 accordance )       
subp>agraph 7,d72 or  7ii7 9 ! case (   
program t aw>ds a pr(essional degree or 
doctoral degree1 9 :i* ! m$ian e>n+s (  
/ud5ts #aj ye>s aft] ! date ( entry into
 ! program :o are no long] enroll$ 9 !  
program & are work+ is1 = n less ?an #b 
( ! #c ye>s prec$+ ! date ( !           
det]m9ation1 less ?an ! m$ian e>n+s ( a 
work+ adult :o is ag$ #be to #cd ) only 

a ba*elor's degree1 z det]m9$ "u        
subp>agraph 7,c7 & 9 accordance )       
subp>agraph 7,d74  7,c7 ,! m$ian e>n+s (
 a work+ adult :o is ag$ #be to #cd )   
only a ba*elor's degree %all be bas$ on 
data f ! ,c5sus ,bureau-- 7i7 = ! ,/ate 
9 :i* ! in/itution is locat$2 or  7ii7  
if few] ?an #ej p]c5t ( ! /ud5ts enroll$
 9 ! in/itution reside 9 ! ,/ate :]e !  
in/itution is locat$1 = ! entire ,unit$ 
,/ates4  7,d7 ,= any ye> = :i* !        
programmatic cohort is few] ?an #cj     
individuals1 ! ,secret>y %all--  7i7    
fir/1 aggregate additional ye>s (       
programmatic data 9 ord] to a*ieve a    
cohort ( at lea/ #cj individuals2  7ii7 
second1 aggregate additional cohort ye>s
 ( programmatic data = degrees or       
c]tificates ( equival5t l5g? 9 ord] to  
a*ieve a cohort ( at lea/ #cj           
individuals2 &  7iii7 if su* data _c be 
aggregat$1 use an in/itution-bas$       
graduate-level measure1 9 lieu ( a      
programmatic measure4  7,e7 ,an         
educational program %all n lose         

eligibility "u subp>agraph 7,a7 unless !
 in/itution has _h ! opportunity to     
appeal ! programmatic m$ian e>n+s (     
/ud5ts work+ & n enroll$ det]m9ation4   
,dur+ su* appeal1 ! ,secret>y may p]mit 
! educational program to cont9ue to     
p>ticipate 9 a program "u ?is title4 ,if
 an educational program cont9ues to     
p>ticipate 9 a program "u title1 & !    
in/itution's appeal ( ! loss (          
eligibility is unsuccessful1 !          
in/itution %all pay to ! ,secret>y an   
am\nt equal to ! am\nt ( int]e/1 & any  
relat$ paym5ts made by ! ,secret>y 7or  
:i* ! ,secret>y is obligat$ to make7 )  
respect to loans made "u ?is title to   
/ud5ts att5d+1 or plann+ to att5d1 t    
educational program dur+ ! p5d5cy ( su* 
appeal4  4  #djc4 ,phase out (          
income-bas$ repaym5t ,section #dic;,c ( 
! ,high] ,education ,act ( #aife 7#bj   
,u4,s4,c4 #ajih;e7 is am5d$-- 7#a7 9    
subsection 7b77#a71 by ins]t+ :o ent]s  
repaym5t on su* loan be=e ,july #a1     
#bjbd1 & aft] a borr[] ( any loan made1 

insur$1 or gu>ante$ "u "p ,b or ,d 7o!r 
?an an except$ ,,plus loan or except$   
consolidation loan72 &  7#b7 9          
subsection 7e7-- 7,a7 9 ! subsection    
head+ by ins]t+ 1 & be=e ,july #a1 #bjbd
 aft] ,july #a1 #bjad2 &  7,b7 by ins]t+
 1 & be=e ,july #a1 #bjbd aft] ,july #a1
 #bjad4  ,v ,graduate opportunity &     
af=dable loans  #eja4 ,loan limits      
,section #dee ( ! ,high] ,education ,act
 ( #aife 7#bj ,u4,s4,c4 #ajhg;e7 is     
am5d$--  7#a7 9 subsection 7a7-- 7,a7 9 
p>agraph 7#c77;,a7--  7i7 9 ! matt]     
prec$+ clause 7i71 by /rik+ "p ,b &     
ins]t+ "p ,b--2  7ii7 beg9n+ 9 ! matt]  
prec$+ clause 7i71 by /rik+ = any p]iod 
& all t foll[s ?r\gh pr(essional /ud5t &
 ins]t+ ! foll[+3  7i7 = any p]iod (    
in/ruction beg9n+ on or aft] ,july #a1  
#bjab1 a graduate or pr(essional /ud5t  
2 &  7iii7 9 clause 7ii71 by ins]t+ =   
any p]iod ( in/ruction beg9n+ on ,july  
#a1 #bjab1 & end+ on ,june #cj1 #bjbd   
7subject to p>agraph 7#d77;,c771 be=e ! 
maximum annual2 &  7,b7 by add+ at ! end

 ! foll[+3  7#d7 ,graduate & pr(essional
 annual & aggregate limits =            
,unsubsidiz$ ,/af=d loans beg9n+ ,july  
#a1 #bjbd  7,a7 ,annual limits beg9n+   
,july #a1 #bjbd ,subject to subp>agraph 
7,c71 beg9n+ on ,july #a1 #bjbd1 !      
maximum annual am\nt ( ,f$]al ,direct   
,unsubsidiz$ ,/af=d loans--  7i7 a      
graduate /ud5t1 :o is n a pr(essional   
/ud5t1 may borr[ 9 any academic ye> 7z  
def9$ 9 section #dha7;a77#b77 or its    
equival5t %all be #bj1ejj2 &  7ii7 a    
pr(essional /ud5t may borr[ 9 any       
academic ye> 7z def9$ 9 section         
#dha7;a77#b77 or its equival5t %all be  
#dj1ejj4  7,b7 ,aggregate limits beg9n+ 
july #a1 #bjbd ,subject to subp>agraph  
7,c71 beg9n+ on ,july #a1 #bjbd1 !      
maximum aggregate am\nt ( ,f$]al ,direct
 ,unsubsidiz$ ,/af=d loans-- 7i7 a      
graduate /ud5t1 :o is n a pr(essional   
/ud5t1 may borr[ is #fe1jjj1 9 addition 
to ! am\nt borr[$ = und]graduate        
education2 &  7ii7 a pr(essional /ud5t  
may borr[ is #acj1jjj1 9 addition to !  

am\nt borr[$ = und]graduate education4  
7,c7 ,phase out provisions ,not)/&+ !   
date ( ! applicability ( ! limits set =?
 9 ?is p>agraph1 an eligible graduate   
/ud5t1 includ+ a pr(essional /ud5t1 :o  
receiv$ a disbursem5t ( a ,f$]al ,direct
 ,unsubsidiz$ ,/af=d loan aft] ,june    
#cj1 #bjbc1 & be=e ,july #a1 #bjbd1 = ! 
#bjbc-bjbd aw>d ye>1 may receive a      
,f$]al ,direct ,unsubsidiz$ ,/af=d loan 
= ! #bjbd-bjbe aw>d ye> 9 am\nts t are  
subject to ! annual & aggregate loan    
limits applicable prior to ,july #a1    
#bjbd1 if ! borr[] did n graduate prior 
to ! #bjbd-bjbe aw>d ye>4  7,d7         
,def9itions ,9 ?is p>agraph3 7i7        
,graduate /ud5t ,! t]m graduate /ud5t   
means a /ud5t enroll$ 9 a program at !  
po/baccalaureate level1 su* z a         
po/baccalaureate c]tificate1 a ma/]'s   
degree1 or a doctor's degree4  7ii7     
,pr(essional /ud5t ,! t]m pr(essional   
/ud5t means a /ud5t enroll$ 9 a doctor's
 degree-pr(essional practice program4   
7iii7 ,po/baccalaureate c]tificate2     

ma/]'s degree2 doctor's degree2 doctor's
 degree pr(essional-practice ,! t]ms    
po/baccalaureate c]tificate1 ma/]'s     
degree1 doctor's degree1 & doctor's     
degree pr(essional-practice %all h !    
mean+ provid$ 9 ! #bjbb-bjbc gloss>y ( !
 ,integrat$ ,po/second>y ,education     
,data ,sy/em 7,,omb ,,no4 #ahei-jehb v4 
#cj74  7#e7 ,t]m9ation ( au?ority to    
make ,f$]al ,direct ,,plus loans to     
graduate & pr(essional /ud5ts  7,a7 ,9  
g5]al ,not)/&+ any o!r provision ( law1 
= any p]iod ( in/ruction beg9n+ on or   
aft] ,july #a1 #bjbd1 a graduate /ud5t  
7includ+ a pr(essional /ud5t7 %all n be 
eligible to receive a ,f$]al ,direct    
,,plus ,loan "u ?is "p = enrollm5t 9 a  
program ( graduate or doctor's degree   
pr(essional-practice education4  7,b7   
,phase out provisions ,n lat] ?an #cj   
days aft] ! date ( enactm5t ( ! ,l[]+   
,education ,co/s & ,debt ,act1 ea*      
in/itution ( high] education t enrolls  
graduate /ud5ts or pr(essional /ud5ts   
%all notify prospective & enroll$       

graduate /ud5ts & pr(essional /ud5ts t !
 ,f$]al ,direct ,,plus ,loan program w  
end = graduate /ud5ts & pr(essional     
/ud5ts on ,june #cj1 #bjbd4  7,c7       
,def9itions ,! def9itions 9 p>agraph    
7#d77;,d7 %all apply to ?is p>agraph4   
7#f7 ,in/itutionally det]m9$ limits     
,not)/&+ any o!r provision ( ?is "p1 an 
eligible in/itution 7at ! discretion ( a
 f9ancial aid adm9i/rator at !          
in/itution7 may prorate or limit ! am\nt
 ( a loan a /ud5t :o is enroll$ 9 a     
program ( /udy at t in/itution = a p]iod
 ( in/ruction beg9n+ on or aft] ,july   
#a1 #bjbd1 may borr[ "u ?is "p = an     
academic ye>1 z long z any proration or 
limit is appli$ consi/5tly to all       
borr[]s ent]+ su* program ( /udy4  4