Report

(a) In general The Committee shall submit an annual report to the Committee on Health, Education, Labor, and Pensions of the Senate, the Committee on Education and Workforce of the House of Representatives, and any other committee of Congress that the Committee determines appropriate. (b) Confidentiality and public access The report described in subsection (a)— (1) shall not contain any personally identifiable information; and (2) shall be made available to the public in a manner that is easily accessible to parents, students, and other stakeholders. (c) Contents (1) In general The report described in subsection (a) shall include— (A) a description of the role of each member of the Committee in achieving the purposes described in section 3(b); (B) an accounting of any negative or adverse action taken by the Federal Government, any member agency of the Committee, or a State to enforce Federal or State laws and regulations applicable to a proprietary institution of higher education; (C) a summary of complaints received, resolved, or pending against each proprietary institution of higher education during the applicable year, including— (i) student complaints collected by the complaint system established under section 5 or received by any member agency of the Committee; (ii) any complaint filed by a Federal or State agency in a Federal, State, local, or Tribal court; (iii) any administrative proceeding by a Federal or State agency involving noncompliance of any applicable law or regulation; (iv) any other review, audit, or administrative process by any Federal or State agency that results in a penalty, suspension, or termination from any Federal or State program; and (v) any complaint, review, audit, or administrative process by an accrediting agency that results in probation or equivalent action, denial, withdrawal, suspension, or termination of accreditation; (D) the data described in paragraph (2) and any other data relevant to proprietary institutions of higher education that the Committee determines appropriate; and (E) recommendations of the Committee for the legislative and administrative actions as the Committee determines are necessary to— (i) improve enforcement of applicable Federal laws; (ii) increase accountability of proprietary institutions of higher education to students, parents, and taxpayers; (iii) reduce and prevent fraud and abuse by proprietary institutions of higher education; and (iv) ensure the promotion of quality education programs. (2) Data (A) Industry-wide data The report described in subsection (a) shall include data on all proprietary institutions of higher education that consists of information regarding— (i) the total amount of Federal education assistance that proprietary institutions of higher education received for the previous academic year, and the percentage of the total amount of Federal education assistance provided to institutions of higher education (as defined in section 102 of the Higher Education Act of 1965 (20 U.S.C. 1002)) for the previous academic year that reflects the total amount of Federal education assistance provided to proprietary institutions of higher education for the previous academic year; (ii) the total amount of Federal education assistance that proprietary institutions of higher education received for the previous academic year, disaggregated by— (I) educational assistance in the form of a loan provided under title IV of the Higher Education Act of 1965 (20 U.S.C. 1070 et seq.); (II) educational assistance in the form of a grant provided under title IV of the Higher Education Act of 1965 (20 U.S.C. 1070 et seq.); (III) educational assistance provided under chapter 33 of title 38, United States Code; (IV) assistance for tuition and expenses under section 2007 of title 10, United States Code; (V) assistance provided under section 1784a of title 10, United States Code; and (VI) Federal education assistance not described in subclauses (I) through (V); (iii) the percentage of the total amount of Federal education assistance provided to institutions of higher education (as defined in section 102 of the Higher Education Act of 1965 (20 U.S.C. 1002)) for the previous academic year for each of the programs described in subclauses (I) through (VI) of clause (ii), that reflects the total amount of Federal education assistance provided to proprietary institutions of higher education for the previous academic year for each of those programs; (iv) the average retention and graduation rates for students pursuing a degree at proprietary institutions of higher education; (v) the average cohort default rate (as defined in section 435(m) of the Higher Education Act of 1965 (20 U.S.C. 1085(m))) and average annual debt-to-earnings rate (as calculated under section 668.403 of title 34, Code of Federal Regulations, or any successor regulation) for proprietary institutions of higher education, and the cohort default rate and annual debt-to-earnings rate for each proprietary institution of higher education; (vi) the average pre-enrollment expenditures on a per-enrolled-student basis, including expenditures on recruiting and marketing activities; (vii) the average educational and general expenditures (as defined in section 502 of the Higher Education Act of 1965 (20 U.S.C. 1101a)) per student, excluding all pre-enrollment expenditures, disaggregated by educational expenditures and general expenditures; (viii) for careers requiring the passage of a licensing examination— (I) the passing rate of individuals who attended a proprietary institution of higher education taking the examination to pursue such a career; and (II) the passing rate of all individuals taking the exam to pursue such a career; (ix) the use of private education loans at proprietary institutions of higher education that includes— (I) an estimate of the total number of those loans; (II) information on the average debt, default rate, and interest rate of those loans; and (III) the names of each lender providing private education loans to borrowers with respect to each proprietary institution of higher education in the prior academic year, including— (aa) the number of borrowers receiving loans from each lender; and (bb) the volume of dollars provided to borrowers with respect to the proprietary institution of higher education by each lender; and (x) the percent of graduates of proprietary institutions of higher education working in a field related to their degree. (B) Data on publicly traded corporations (i) In general The report described in subsection (a) shall include data on proprietary institutions of higher education that are publicly traded corporations, consisting of information on— (I) any pre-tax profit of those proprietary institutions of higher education— (aa) reported as a total amount and an average percent of revenue for all those proprietary institutions of higher education; and (bb) reported for each of those proprietary institutions of higher education; (II) revenue for those proprietary institutions of higher education spent on recruiting and marketing activities, student instruction, and student support services, reported— (aa) as a total amount and an average percentage of revenue for all those proprietary institutions of higher education; and (bb) for each of those proprietary institutions of higher education; (III) total compensation packages, including bonuses, of the executive officers of each of those proprietary institutions of higher education; (IV) a list of institutional loan programs offered by each of those proprietary institutions of higher education that includes information on the default and interest rates of those programs; and (V) the data described in clauses (ii) and (iii). (ii) Disaggregated by ownership The report shall include data on proprietary institutions of higher education that are publicly traded corporations, disaggregated by corporate or parent entity, brand name, and campus, consisting of— (I) the average total cost of attendance at each proprietary institution of higher education, and information comparing the total cost for each program to— (aa) the average total cost of attendance— (AA) at each public institution of higher education; and (BB) at each public institution of higher education that offers the same level of education degree or certification as the proprietary institution of higher education; and (bb) the average total cost of attendance— (AA) at all institutions of higher education, including institutions that are public and institutions that are private; and (BB) at all institutions of higher education that offer the same level of education degree or certification as the proprietary institution of higher education, including institutions that are public and institutions that are private; (II) total enrollment, disaggregated by— (aa) individuals enrolled in programs taken online; (bb) individuals enrolled in programs that are not taken online; and (cc) individuals enrolled in programs taken both online and not online; (III) the average retention and graduation rates for students pursuing a degree at proprietary institutions of higher education; (IV) the percentage of students enrolled in proprietary institutions of higher education who complete a program of an institution within— (aa) the standard period of completion for the program; and (bb) a period that is 150 percent of the standard period of completion; (V) the average total cost of attendance for each program at proprietary institutions of higher education; (VI) the average cohort default rate, as defined in section 435(m) of the Higher Education Act of 1965 (20 U.S.C. 1085(m)), for proprietary institutions of higher education, and an annual list of cohort default rates (as so defined) for all proprietary institutions of higher education; (VII) the median Federal educational debt incurred by students who complete a program at a proprietary institution of higher education; (VIII) the median Federal educational debt incurred by students who start but do not complete a program at a proprietary institution of higher education; (IX) the job placement rate for students who complete a program at a proprietary institution of higher education and the type of employment obtained by those students; (X) for careers requiring the passage of a licensing examination, the passing rate for individuals who attended a proprietary institution of higher education and passed the examination; (XI) the number of complaints from students enrolled in proprietary institutions of higher education who have submitted a complaint to any member agency of the Committee; and (XII) the volume of institutional debt, number of students who owe institutional debts, average amount of institutional debt owed by each student, and annual debt-to-earnings rate (as calculated under section 668.403 of title 34, Code of Federal Regulations, or any successor regulation). (iii) Department of Defense and Veterans Affairs assistance (I) In general To the extent practicable, the report described in subsection (a) shall provide information on the data described in clause (ii) for individuals using, to pay for the costs of attending a proprietary institution of higher education, Federal education assistance provided under— (aa) chapter 33 of title 38, United States Code; (bb) section 2007 of title 10, United States Code; and (cc) section 1784a of title 10, United States Code. (II) Revenue The report shall provide information on the revenue of proprietary institutions of higher education that are publicly traded corporations that is derived from the Federal education assistance described in subclause (I). (C) Comparison data To the extent practicable, the report shall provide information comparing the data described in subparagraph (B) for proprietary institutions of higher education that are publicly traded corporations with data for public institutions of higher education disaggregated by State. (3) Accounting of any action As used in paragraph (1)(B), the term any negative or adverse action includes— (A) a complaint filed by a Federal or State agency in a local, State, Federal, or Tribal court; (B) an administrative proceeding by a Federal or State agency involving noncompliance with any applicable law or regulation; or (C) any other review, audit, or administrative process by any Federal or State agency that results in a penalty, suspension, or termination from any Federal or State program.