Transparency of oversight activities

(a) Borrower defense claims and discharges data Section 455(h) (20 U.S.C. 1087e(h)), as amended by section 102(a), is further amended— (1) by redesignating paragraph (8) as paragraph (9); and (2) by inserting after paragraph (7) the following: (8) Transparency The Secretary shall make publicly available, and keep regularly updated, information regarding the number of borrower defense claims filed and discharges granted, disaggregated by institution of attendance, State of residence as of the date of the claim, student loan servicer, and the amount of discharge and reimbursement, based on increments of not less than $10,000.. (b) 90/10 rule transparency Paragraph (3) of section 487(d) (20 U.S.C. 1094(d)(3)) is amended— (1) by redesignating subparagraphs (A) and (B) as clauses (i) and (ii), respectively, and adjusting the margins appropriately; (2) by striking The Secretary and inserting the following: (A) Public disclosure of failure to meet requirements The Secretary; and (3) by adding at the end the following: (B) Public disclosure of 90/10 data (i) In general The Secretary shall publicly disclose on the website of the Department the data provided by proprietary institutions for purposes of this subsection (referred to in this subparagraph as the 90/10 database) in a prompt, comprehensive, and user-friendly manner. (ii) Temporary omissions If any data for a proprietary of institution required to be disclosed under clause (i) is omitted because of issues unresolved at a given deadline of the Secretary, the Secretary shall— (I) include, in the 90/10 database on the College Navigator website, a notice that the information is omitted for such proprietary institution and a clear explanation of the reason for the delay; and (II) timely amend the 90/10 database to include the information required to be disclosed for the relevant reporting period.. (c) Change of ownership and conversion transparency Section 498(j) (20 U.S.C. 1099c(j)), as redesignated by section 304(b)(2), is further amended by adding at the end the following: (5) The Secretary shall promptly disclose on the website of the Department— (A) any application for a change of ownership of an institution or for a conversion of an institution from proprietary to nonprofit status; and (B) any decision by the Secretary regarding approval or disapproval of a change of ownership application, or an application for conversion from proprietary to nonprofit status, and all external communications describing or explaining those decisions.. (d) Transparency in financial standing of institutions Section 498(c) (20 U.S.C. 1099c(c)), as amended by section 401(d), is further amended by adding at the end the following: (9) The Secretary shall promptly post on the Department website, for all institutions participating in a program under this title— (A) the annual audited financial statements submitted by each institution under this section and a list of any institutions that have failed to timely submit audited financial statements; (B) (i) the terms, amounts, and withdrawals for letters of credit and other sureties required of institutions of higher education under paragraph (3), including by providing updates as new financial guarantees are required and as changes are made to existing agreements; and (ii) all external communications between institutions of higher education and the Department describing or implementing the Secretary's requirements or determinations regarding financial guarantees under paragraph (3); and (C) (i) each decision of the Secretary as to the imposition or removal of heightened cash monitoring status and other financial protections regarding an institution; and (ii) all external communications between institutions of higher education and the Department describing or implementing such decisions.. (e) Institutional participation in the title IV programs Section 498 (20 U.S.C. 1099c) is amended by adding at the end the following: (m) Transparency The Secretary shall post on the Department website the full program participation agreement under section 487 for each institution that enters into such an agreement and shall indicate if the institution is on provisional, temporary provisional, or expired certification status.. (f) Accrediting agency transparency Section 496 (20 U.S.C. 1099b) is amended— (1) in subsection (o)— (A) by inserting after Regulations.— the following: (1) In general; and (B) by adding at the end the following: (2) Disclosures (A) In general The Secretary shall publicly disclose on the Department's website— (i) all of the Department’s draft and final accrediting agency or association recognition reports, and monitoring reports and investigations of any accrediting agency or association, under this section; and (ii) the reports and accompanying exhibits that each accreditation agency or association submits to the Department in the course of recognition and re-recognition reviews under this section. (B) Disclosure requirements The Secretary shall disclose the information required under subparagraph (A) promptly, so that members of the public may thoroughly and timely respond via public comment in the course of Department reviews of accrediting agencies and associations.; and (2) by adding at the end the following: (r) Transparency of accrediting agency or association actions (1) In general An accrediting agency or association recognized by the Secretary under this section shall promptly post on the website of the accrediting agency or association and shall submit to the Department, all communications sent from the accrediting agency or association to an institution explaining, or informing an institution of, an action taken by the agency with respect to the institution, including— (A) to impose or remove a status of probation, warning, concern, stipulation, or reporting, or similar status; (B) to impose or revoke a show cause order; or (C) to impose or revoke a limitation, suspension, or termination action. (2) No redaction The communication posted and submitted under paragraph (1) shall be without redaction, except for personally identifiable information. (3) Disclosure by the Secretary The Secretary shall promptly publicly disclose on the website of the Department all communications submitted pursuant to paragraph (1)..