[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[S. 2559 Introduced in Senate (IS)]

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116th CONGRESS
  1st Session
                                S. 2559

To establish certain requirements for institutions that participate in 
        the Federal Direct loan program, and for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                           September 26, 2019

  Mr. Scott of Florida introduced the following bill; which was read 
 twice and referred to the Committee on Health, Education, Labor, and 
                                Pensions

_______________________________________________________________________

                                 A BILL


 
To establish certain requirements for institutions that participate in 
        the Federal Direct loan program, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Student Training and Education 
Metrics Act of 2019''.

SEC. 2. RISK-SHARING PAYMENTS.

    Section 454 of the Higher Education Act of 1965 (20 U.S.C. 
1087d(a)) is amended--
            (1) in subsection (a)--
                    (A) in paragraph (5), by striking ``and'' after the 
                semicolon;
                    (B) by redesignating paragraph (6) as paragraph 
                (8); and
                    (C) by inserting after paragraph (5) the following:
            ``(6) provide that the institution accepts the 
        institutional risk-sharing requirements under subsection 
        (d);''; and
            (2) by adding at the end the following:
    ``(d) Institutional Risk-Sharing Based on Loan Default.--
            ``(1) In general.--Beginning with fiscal year 2022, and 
        each succeeding fiscal year, each institution of higher 
        education participating in the direct student loan program 
        under this part shall remit to the Secretary, at such times as 
        the Secretary may specify, an institutional risk-sharing 
        payment, as determined under paragraph (2).
            ``(2) Determination of risk-sharing payments.--
                    ``(A) Determination of cohort loan balance.--The 
                cohort loan balance of an institution for a fiscal year 
                equals the total principal amount of all loans made 
                under this part to attend such institution for the 
                cohort of borrowers who entered repayment, deferment, 
                or forbearance on such loans in the third preceding 
                fiscal year for which the determination is made.
                    ``(B) Determination of cohort nonrepayment loan 
                balance.--The cohort nonrepayment loan balance of an 
                institution for a fiscal year equals, from the total 
                amount of the loans described in subparagraph (A), the 
                total loan balance of those borrowers who have gone 
                into default in the 3 consecutive fiscal years since 
                their loans entered repayment, deferment, or 
                forbearance.
                    ``(C) Determination of payment.--The risk-sharing 
                payment of an institution for a fiscal year shall 
                equal:
                            ``(i) For the first year after the date of 
                        enactment of this Act, an amount equal to 1 
                        percent of the cohort nonrepayment loan balance 
                        determined under subparagraph (B).
                            ``(ii) For the second year after the date 
                        of enactment of this Act through the ninth year 
                        after the date of enactment of this Act, an 
                        amount equal to 2 percent of the cohort 
                        nonrepayment loan balance determined under 
                        subparagraph (B) through 9 percent of that 
                        balance, respectively for each year.
                            ``(iii) For the tenth year after the date 
                        of enactment of this Act, and for any 
                        successive year, an amount equal to 10 percent 
                        of the cohort nonrepayment loan balance 
                        determined under subparagraph (B).''.

SEC. 3. PROGRAM INTEGRITY.

    (a) Institutional Reporting.--Section 454 of the Higher Education 
Act of 1965 (20 U.S.C. 1087d(a)), as amended by section 2, is further 
amended--
            (1) in subsection (a), by inserting after paragraph (6) (as 
        added by section 2), the following:
            ``(7) provide that the institution will collect and report 
        to the Secretary, by July 1 of each year, data regarding--
                    ``(A) the 6-year graduation rate for each academic 
                program offered at the institution;
                    ``(B) the percentage of graduates who are employed 
                full-time or continuing their education full-time 1, 3, 
                and 5 years after graduating;
                    ``(C) the median full-time wages of graduates for 
                each academic program 1, 3, and 5 years after 
                graduating;
                    ``(D) the total cost of tuition and fees for the 
                mandatory credit hours necessary to graduate with a 
                degree for each academic program; and
                    ``(E) the cost to graduate with a degree for each 
                academic program (including tuition, fees, room and 
                board, and books and supplies); and''; and
            (2) by adding at the end the following:
    ``(e) Publicly Available Information.--The Secretary shall publish 
and make publicly available the data described in subsection (a)(7).''.
    (b) Program Review and Data.--Section 498A(a)(1) of the Higher 
Education Act of 1965 (20 U.S.C. 1099c-1(a)(1)) is amended by striking 
``title;'' and inserting ``title, which shall include annually 
collecting and reporting, for each institution--
                    ``(A) the average amount of Federal student loan 
                debt owed for an individual student on the date of 
                graduation from that institution; and
                    ``(B) the rate of loan deferment, rate of 
                forbearance, rate of default, and rate of delinquency 
                (each expressed separately) for borrowers of all 
                Federal student loans, 5, 7, and 10 years after the 
                borrowers' date of graduation from the institution;''.

SEC. 4. PROHIBITION ON TUITION AND FEE INCREASES.

    An institution of higher education (as defined in section 102 of 
the Higher Education Act of 1965 (20 U.S.C. 1002)) shall not be 
eligible to receive any Federal funds if that institution raises the 
amount of tuition and fees charged above the amount of tuition and fees 
charged for the 2019-2020 award year.
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