[Congressional Record Volume 170, Number 19 (Thursday, February 1, 2024)]
[Senate]
[Pages S344-S348]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. DURBIN (for himself, Ms. Smith, Mr. Blumenthal, Mr. 
        Merkley, and Ms. Warren):
  S. 3727. A bill to establish the Proprietary Education Interagency 
Oversight Committee and to facilitate the disclosure and reporting of 
information regarding complaints and investigations related to 
proprietary institutions of higher education eligible to receive 
Federal education assistance; to the Committee on Health, Education, 
Labor, and Pensions.
  Mr. DURBIN. Madam President, I ask unanimous consent that the text of 
the bill be printed in the Record.
  There being no objection, the text of the bill was ordered to be 
printed in the Record, as follows:

                                S. 3727

       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 ``Proprietary Education 
     Oversight Task Force Act''.

     SEC. 2. DEFINITIONS.

       In this Act:
       (1) Accrediting agency.--The term ``accrediting agency'' 
     means a private educational association that acts as a 
     reliable authority on the quality of education or training 
     provided by an institution of higher education and is 
     recognized by the Secretary under section 496 of the Higher 
     Education Act of 1965 (20 U.S.C. 1099b).
       (2) Department.--Unless otherwise expressly provided, the 
     term ``Department'' means the Department of Education.
       (3) Executive officer.--The term ``executive officer'', 
     with respect to a proprietary institution of higher education 
     that is a publicly traded corporation, means--
       (A) the president of the corporation;
       (B) a vice president of the corporation who is in charge of 
     a principal business unit, division, or function of the 
     corporation, such as sales, administration, or finance; or
       (C) any other officer or person who performs a policy-
     making function for the corporation, including an executive 
     officer of a subsidiary of the corporation if the officer 
     performs a policy making function for the corporation.
       (4) Federal education assistance.--The term ``Federal 
     education assistance'' when used with respect to a 
     proprietary institution of higher education, means Federal 
     funds that are disbursed or delivered by the Department, the 
     Department of Veterans Affairs, or the Department of Defense 
     to, or on behalf of, a student to be used for tuition, fees, 
     instruction, or any other component of the student's cost of 
     attendance (as defined in section 472 of the Higher Education 
     Act of 1965 (20 U.S.C. 1087ll)) to attend the institution.
       (5) Institutional debt.--The term ``institutional debt'' 
     means any debt owed by a student or the parent of a student 
     to an institution of higher education, including--
       (A) debt owed through a private loan program, income-share 
     agreement, or other financing product operated by the 
     institution;
       (B) debt owed from a return of student assistance made, 
     insured, or guaranteed under title IV of the Higher Education 
     Act 1965 (20 U.S.C. 1070 et seq.) to the Department; and
       (C) debt owed from the student's nonpayment of 
     institutional charges or fees.
       (6) Private education loan.--The term ``private education 
     loan''--
       (A) means a loan provided by a private educational lender 
     (as defined in section 140(a) of the Truth in Lending Act (15 
     U.S.C. 1650(a))) that--
       (i) is not made, insured, or guaranteed under title IV of 
     the Higher Education Act of 1965 (20 U.S.C. 1070 et seq.);
       (ii) is issued expressly for postsecondary educational 
     expenses to a borrower, regardless of whether the loan is 
     provided through the educational institution that the subject 
     student attends or directly to the borrower from the private 
     educational lender (as so defined); and
       (iii) is not made, insured, or guaranteed under title VII 
     or title VIII of the Public Health Service Act (42 U.S.C. 292 
     et seq. and 296 et seq.); and
       (B) does not include an extension of credit under an open-
     end consumer credit plan, a reverse mortgage transaction, a 
     residential mortgage transaction, or any other loan that is 
     secured by real property or a dwelling.
       (7) Proprietary institution of higher education.--The term 
     ``proprietary institution of higher education'' has the 
     meaning given the term in section 102(b) of the Higher 
     Education Act of 1965 (20 U.S.C. 1002(b)).
       (8) Recruiting and marketing activities.--
       (A) In general.--Except as provided in subparagraph (B), 
     the term ``recruiting and marketing activities'' means 
     activities that include any of the following:
       (i) Advertising and promotional activities, including paid 
     announcements in newspapers, magazines, radio, television, 
     billboards, electronic media, naming rights, or any other 
     public medium of communication, including paying for displays 
     or promotions at job fairs, military installations, or 
     college recruiting events, that are made directly or 
     indirectly to a student, a prospective student, the public, 
     an accrediting agency, a State agency, or to the Secretary by 
     a proprietary institution of higher education, one of its 
     representatives, or any person with whom the institution has 
     an agreement to provide educational programs, advertising, or 
     admissions services.
       (ii) Misleading statement, misrepresentation, and 
     substantial misrepresentation (as defined in section 
     668.71(c) of title 34, Code of Federal Regulations, or any 
     successor regulation).
       (iii) Efforts to identify and attract prospective students, 
     either directly or through a contractor or other third party, 
     including contact concerning a prospective student's 
     potential enrollment or application for a grant, a loan, or 
     work assistance under title IV of the Higher Education Act of 
     1965 (20 U.S.C. 1070 et seq.) or participation in 
     preadmission or advising activities, including soliciting an 
     individual to provide contact information to a proprietary 
     institution

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     of higher education, including through websites established 
     for that purpose and funds paid to third parties for that 
     purpose.
       (iv) Other activities as the Secretary may prescribe, 
     including paying for promotion or sponsorship of education or 
     military-related associations.
       (B) Exceptions.--Any activity that is required as a 
     condition of the receipt of funds by an institution of higher 
     education under title IV of the Higher Education Act of 1965 
     (20 U.S.C. 1070 et seq.), is specifically authorized under 
     that title, or is otherwise specified by the Secretary, is 
     not a recruiting and marketing activity under subparagraph 
     (A).
       (9) Secretary.--Unless otherwise expressly provided, the 
     term ``Secretary'' means the Secretary of Education.
       (10) State approval agency.--The term ``State approval 
     agency'' means any State agency that determines whether an 
     institution of higher education is legally authorized within 
     the State to provide a program of education beyond secondary 
     education.
       (11) Veterans service organization.--The term ``veterans 
     service organization'' means an organization that is--
       (A) recognized by the Secretary of Veterans Affairs for the 
     representation of veterans under section 5902 of title 38, 
     United States Code;
       (B) congressionally chartered under title 36, United States 
     Code, and serves or represents veterans;
       (C) recognized by the Secretary of Veteran Affairs under 
     section 14.628 of title 38, Code of Federal Regulations (or a 
     successor regulation), as a national organization, State 
     organization, tribal organization, or regional or local 
     organization; or
       (D) an organization that has a record of demonstrating 
     expertise in, assists in, or serves the interests of veterans 
     in education.

     SEC. 3. ESTABLISHMENT OF PROPRIETARY EDUCATION INTERAGENCY 
                   OVERSIGHT COMMITTEE.

       (a) Establishment.--There is established the Proprietary 
     Education Interagency Oversight Committee (referred to in 
     this Act as the ``Committee'') to be composed of the head (or 
     the designee of the head who is designated under subsection 
     (d)) of each of the following:
       (1) The Department.
       (2) The Consumer Financial Protection Bureau.
       (3) The Department of Justice.
       (4) The Securities and Exchange Commission.
       (5) The Department of Defense.
       (6) The Department of Veterans Affairs.
       (7) The Federal Trade Commission.
       (8) The Department of Labor.
       (9) The Internal Revenue Service.
       (10) At the discretion of the President, any other relevant 
     Federal agency.
       (b) Purposes.--The Committee shall have the following 
     purposes:
       (1) To improve enforcement of applicable Federal laws and 
     regulations.
       (2) To increase accountability of proprietary institutions 
     of higher education to students and taxpayers.
       (3) To ensure the promotion of high-quality education 
     programs.
       (4) To reduce and prevent fraud and abuse by proprietary 
     institutions of higher education.
       (c) Responsibilities.--To meet the purposes described in 
     subsection (b), the Committee shall--
       (1) coordinate administrative oversight of proprietary 
     institutions of higher education--
       (A) such that the Federal agencies represented on the 
     Committee may develop a memorandum of understanding to 
     specify responsibilities of each of those agencies in 
     creating the report under section 6;
       (B) to encourage information-sharing, to the extent 
     practicable, among those agencies related to Federal 
     investigations, audits, or inquiries of proprietary 
     institutions of higher education; and
       (C) to increase coordination and cooperation between 
     Federal and State agencies, including State Attorneys General 
     and State approval agencies, with respect to improving 
     oversight and accountability of proprietary institutions of 
     higher education; and
       (2) synthesize cross-agency industry data on proprietary 
     institutions of higher education to--
       (A) develop an annual report under section 6;
       (B) publish a ``For-Profit College Warning List for Parents 
     and Students'', in accordance with section 7; and
       (C) develop consistency among Federal and State agencies in 
     the dissemination of consumer information regarding 
     proprietary institutions of higher education to ensure that 
     students, parents, and other stakeholders have easy access to 
     that information.
       (d) Membership.--
       (1) Designees.--The head of a Federal agency listed in 
     subsection (a) may designate a high-ranking official of the 
     agency to serve as a designee on the Committee. The designee 
     shall be, whenever possible, the head of the portion of the 
     agency that is most relevant to the purposes described in 
     subsection (b).
       (2) Chairperson.--The Secretary or the Secretary's designee 
     shall serve as the Chairperson of the Committee.
       (3) Committee support.--The Chairperson of the Committee 
     shall ensure that appropriate staff and officials at the 
     Department are available to support Committee-related work.
       (e) Committee Meetings.--The members of the Committee shall 
     meet regularly, but not less often than once during each 
     quarter of each fiscal year, to carry out the purposes 
     described in subsection (b) and the responsibilities 
     described in subsection (c).
       (f) Notification to Individuals Who Submit Complaints.--The 
     head of each Federal agency listed in subsection (a) shall 
     notify each individual who submits to the Federal agency a 
     complaint with respect to a proprietary institution of higher 
     education that information from the complaint may be used to 
     carry out the purposes described in subsection (b).

     SEC. 4. PROPRIETARY EDUCATION OVERSIGHT ADVISORY COMMITTEE.

       (a) In General.--The Department shall establish a 
     Proprietary Education Oversight Advisory Committee (referred 
     to in this Act as the ``Advisory Committee'') to advise the 
     Committee. The Advisory Committee shall meet not less often 
     than twice each fiscal year.
       (b) FACA Applicability.--The Advisory Committee shall be 
     subject to chapter 10 of title 5, United States Code 
     (commonly referred to as the ``Federal Advisory Committee 
     Act'').
       (c) Membership.--
       (1) In general.--The Advisory Committee shall have 13 
     members, of which--
       (A) 4 members shall be representatives from State attorneys 
     general--
       (i) 2 of whom shall be appointed by the Speaker of the 
     House of Representatives, 1 of whom shall be appointed on the 
     recommendation of the majority leader of the House of 
     Representatives, and 1 of whom shall be appointed on the 
     recommendation of the minority leader of the House of 
     Representatives; and
       (ii) 2 of whom shall be appointed by the President pro 
     tempore of the Senate, 1 of whom shall be appointed on the 
     recommendation of the majority leader of the Senate, and 1 of 
     whom shall be appointed on the recommendation of the minority 
     leader of the Senate; and
       (B) 9 members shall be appointed by the Secretary, of 
     whom--
       (i) 1 member shall be a representative from a State 
     approval agency;
       (ii) 1 member shall be a representative from a veterans 
     service organization;
       (iii) 1 member shall be a representative from an 
     accrediting agency;
       (iv) 1 member shall be a representative from a civil rights 
     organization;
       (v) 1 member shall be a representative from a proprietary 
     institution of higher education;
       (vi) 1 member shall be a current student of a proprietary 
     institution of higher education who is a dependent student;
       (vii) 1 member shall be a current student of a proprietary 
     institution of higher education who is an independent 
     student;
       (viii) 1 member shall be a representative from a consumer 
     advocate organization; and
       (ix) 1 member shall be a representative from a legal 
     assistance organization that represents students or 
     borrowers.
       (2) Qualifications.--Individuals shall be appointed as 
     members of the Advisory Committee--
       (A) on the basis of the individuals' experience, integrity, 
     impartiality, and good judgment; and
       (B) on the basis of the individuals' technical 
     qualifications, professional standing, and demonstrated 
     knowledge in the field of proprietary education.
       (3) Terms of members.--The term of office of each member of 
     the Advisory Committee shall be for 6 years, except that any 
     member appointed to fill a vacancy occurring prior to the 
     expiration of the term for which the member's predecessor was 
     appointed shall be appointed for the remainder of such term.
       (4) Vacancy.--A vacancy on the Advisory Committee shall be 
     filled in the same manner as the original appointment was 
     made not later than 90 days after the vacancy occurs. If a 
     vacancy occurs in a position to be filled by the Secretary, 
     the Secretary shall publish a Federal Register notice 
     soliciting nominations for the position not later than 30 
     days after being notified of the vacancy.
       (d) Duties.--The Advisory Committee shall provide advice 
     and recommendations to the Committee with respect to--
       (1) complaints filed against proprietary institutions of 
     higher education with State attorneys general or State 
     approval agencies;
       (2) State enforcement actions against proprietary 
     institutions of higher education;
       (3) minority enrollment in proprietary institutions of 
     higher education;
       (4) veteran enrollment in proprietary institutions of 
     higher education;
       (5) outcome measures at proprietary institutions of higher 
     education, including graduation rates, percent of graduates 
     earning more than a high school graduate, and licensure pass 
     rates;
       (6) student loan burden from enrollment at proprietary 
     institutions of higher education, including median amount 
     owed disaggregated by degree type, cohort default rate, and 
     percent of students in repayment;
       (7) marketing and recruitment practices at proprietary 
     institutions of higher education;
       (8) per pupil expenditure for instructional purposes at 
     proprietary institutions of higher education;
       (9) enforcement actions the Federal Government should take 
     against proprietary institutions of higher education; and
       (10) preparation of the report under section 6.

[[Page S346]]

       (e) Sharing of Data From Complaints.--To carry out the 
     duties described under subsection (d), the Advisory Committee 
     may share among the members of the Advisory Committee and the 
     Committee information from complaints filed against 
     proprietary institutions of higher education consistent with 
     the protection of the privacy and confidentiality of 
     personally identifiable information.

     SEC. 5. COLLECTION AND TRACKING OF COMPLAINTS.

       (a) In General.--
       (1) Centralized collection, monitoring, and response.--In 
     consultation with the Committee, the Secretary shall 
     establish a single, toll-free telephone number, a website, 
     and a database (or use an existing database) to facilitate 
     the centralized collection of, monitoring of, and response to 
     student complaints regarding the services or activities of 
     any proprietary institution of higher education that is 
     eligible for Federal education assistance.
       (2) Coordination.--The Committee shall coordinate with the 
     Federal agencies represented on the Committee to route 
     complaints to those agencies, where appropriate, and 
     consistent with--
       (A) the protection of the privacy and confidentiality of 
     personally identifiable information; and
       (B) data security and integrity.
       (b) Use of Complaint Information.--Information collected 
     from complaints under subsection (a) shall be used--
       (1) to facilitate coordination among the Federal agencies 
     represented on the Committee;
       (2) to facilitate investigations and enforcement actions 
     against proprietary institutions of higher education;
       (3) to prepare the report under section 6; and
       (4) to prepare the For-Profit College Warning List for 
     Parents and Students under section 7.
       (c) Routing Complaints to States.--To the extent 
     practicable, State approval agencies may receive appropriate 
     complaints from the systems established under subsection (a), 
     if--
       (1) the State approval agency system has the functional 
     capacity to receive calls or electronic reports routed by the 
     systems of the Department;
       (2) the State approval agency has satisfied any conditions 
     of participation in the system that the Department may 
     establish, including treatment of personally identifiable 
     information and sharing of information on complaint 
     resolution or related compliance procedures and resources; 
     and
       (3) participation by the State approval agency includes 
     measures necessary to provide for protection of personally 
     identifiable information that conform to the Federal laws and 
     standards for protection of the privacy and confidentiality 
     of personally identifiable information and for data integrity 
     and security that apply to the Federal agencies described in 
     subsection (d).
       (d) Data-sharing Required.--
       (1) In general.--To facilitate preparation of the reports 
     required under section 6, supervision and enforcement 
     activities, and monitoring of the market for educational 
     services provided by any proprietary institution of higher 
     education that is eligible for Federal education assistance, 
     the Committee members shall share student complaint 
     information with accrediting agencies, the Federal Trade 
     Commission, other Federal agencies, and State agencies, 
     subject to the Federal laws and standards applicable to 
     Federal agencies for the protection of the privacy and 
     confidentiality of personally identifiable information and 
     for data security and integrity.
       (2) Sharing of data with the department.--The accrediting 
     agencies, the Federal Trade Commission, and other Federal 
     agencies shall share data relating to student complaints 
     regarding educational services provided by any proprietary 
     institution of higher education with the Department, subject 
     to the Federal laws and standards applicable to Federal 
     agencies for the protection of the privacy and 
     confidentiality of personally identifiable information and 
     for data security and integrity.

     SEC. 6. 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 the 
     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)) for proprietary institutions of higher education, 
     and the cohort default 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;
       (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; and

       (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

[[Page S347]]

       (bb) the volume of dollars provided to borrowers with 
     respect to the proprietary institution of higher education by 
     each lender.
       (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, and average amount of 
     institutional debt owed by each student.

       (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.

     SEC. 7. FOR-PROFIT COLLEGE WARNING LIST FOR PARENTS AND 
                   STUDENTS.

       (a) In General.--Each academic year, the Secretary on 
     behalf of the Committee shall publish a list to be known as 
     the ``For-Profit College Warning List for Parents and 
     Students'' to be comprised of the names of proprietary 
     institutions of higher education--
       (1) that have been sued for financial relief by a Federal 
     or State authority, or through a qui tam action in which the 
     Federal Government has intervened;
       (2) that are required to pay a debt or incur a liability 
     from a settlement, arbitration proceeding, or final judgment 
     in a judicial proceeding with a Federal or State agency and 
     the case addresses misrepresentation, fraud, liability under 
     sections 3729 through 3733 of title 31, United States Code 
     (commonly known as the ``False Claims Act''), or other 
     borrower-defense-to-repayment claims;
       (3) that have pending claims for borrower relief discharge 
     under the borrower defense to repayment regulations from 
     students or former students of the institution and the 
     Secretary has formed a group process to consider the claims;
       (4) that have had any eligibility for participation 
     withdrawn or suspended with respect to--
       (A) 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.);
       (B) 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.);
       (C) educational assistance provided under chapter 33 of 
     title 38, United States Code;
       (D) assistance for tuition and expenses under section 2007 
     of title 10, United States Code;
       (E) assistance provided under section 1784a of title 10, 
     United States Code; or
       (F) Federal education assistance not described in 
     subparagraphs (A) through (E); or
       (5) that have been deemed ineligible to receive Federal 
     education assistance for the next year or required to repay 
     Federal education assistance previously received in an 
     applicable report year.
       (b) Summary.--The For-Profit College Warning List for 
     Parents and Students shall include a summary in plain 
     language of the basis of each proprietary institution of 
     higher education's inclusion on the list.
       (c) Procedures.--The Committee shall establish and apply 
     review procedures for the For-Profit College Warning List for 
     Parents and Students, including evaluation and withdrawal 
     proceedings that provide--
       (1) for adequate written specification of--
       (A) the procedure for identifying proprietary intuitions of 
     higher education for inclusion on the list; and
       (B) identified deficiencies at the proprietary institutions 
     of higher education; and
       (2) for sufficient opportunity for a written response by a 
     proprietary institution of higher education regarding any 
     deficiencies identified by the Committee--
       (A) within a timeframe determined by the Committee; and
       (B) prior to the final publication of the For-Profit 
     College Warning List for Parents and Students.
       (d) Publication.--
       (1) In general.--Not later than July 1 of each fiscal year, 
     on behalf of the Committee, the Secretary shall publish the 
     For-Profit College Warning List for Parents and Students 
     prominently and in a manner that--
       (A) is easily accessible to parents, current students, 
     prospective students, and other stakeholders; and
       (B) does not contain any personally identifiable 
     information.
       (2) Use of preexisting platform.--The Secretary may 
     incorporate the For-Profit College Warning List for Parents 
     and Students into preexisting, widely used platforms.

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