text: SECTION 1. SHORT TITLE.
  
      This Act may be cited as the ``Helping College Students Cross the 
  Finish Line Act''.
  
  SEC. 2. GRANTS TO INSTITUTIONS TO PROVIDE AWARDS TO UNDERGRADUATE AND 
                VOCATIONAL STUDENTS WITH FINANCIAL NEED TO ASSIST IN 
                COMPLETION OF DEGREE AND CERTIFICATE PROGRAMS.
  
      Part A of title IV of the Higher Education Act of 1965 (20 U.S.C. 
  1070 et seq.) is amended by inserting after subpart 7 the following new 
  subpart:
  
  ``Subpart 8--Grants to Institutions To Provide Awards to Undergraduate 
  and Vocational Students With Financial Need To Assist in Completion of 
                      Degree and Certificate Programs
  
  ``SEC. 420. GRANTS TO INSTITUTIONS TO PROVIDE AWARDS TO UNDERGRADUATE 
                AND VOCATIONAL STUDENTS WITH FINANCIAL NEED TO ASSIST IN 
                COMPLETION OF DEGREE AND CERTIFICATE PROGRAMS.
  
      ``(a) Grants for Establishment of Financial Assistance Program.--
  The Secretary shall award grants to institutions of higher education to 
  establish programs of financial assistance for students in accordance 
  with this section.
      ``(b) Financial Assistance Program.--
              ``(1) Establishment.--An institution of higher education 
          receiving a grant under subsection (a) shall establish a 
          financial assistance program to award funds to not less than 
          100 eligible students per academic year in accordance with this 
          subsection.
              ``(2) Student eligibility.--A student shall be eligible for 
          an award under a financial assistance program established by an 
          institution of higher education in accordance with this 
          subsection if--
                      ``(A) such student is enrolled as an undergraduate 
                  or vocational student at such institution on a not less 
                  than half-time basis;
                      ``(B) such student is academically able to complete 
                  the degree or certificate program for which such 
                  student is enrolled within an academic year;
                      ``(C) such student is in good academic standing at 
                  such institution (as determined by such institution) at 
                  the time of the distribution of the award;
                      ``(D) in the case of a student who previously 
                  received an award under this section, such student 
                  maintained good academic standing during the academic 
                  period for which the student received such previous 
                  award under this section;
                      ``(E) such student has an outstanding tuition 
                  payment due to such institution and is unable to fully 
                  pay the amount due; and
                      ``(F) the institution determines that without 
                  financial assistance, such student will discontinue the 
                  degree or certificate program for which such student is 
                  enrolled due to an inability to pay tuition.
              ``(3) Grant amount.--The amount of an award to a student 
          under a financial assistance program established by an 
          institution of higher education in accordance with this 
          subsection for a semester or equivalent shall be the lesser 
          of--
                      ``(A) $1,000; or
                      ``(B) the amount of tuition such institution 
                  determines the student is unable to pay for such 
                  semester or equivalent.
              ``(4) Limitation on number of grants.--A student may only 
          receive an award under a financial assistance program 
          established by an institution of higher education in accordance 
          with this subsection for a total of two semesters or the 
          equivalent of two semesters.
              ``(5) Information on other financial assistance.--
                      ``(A) Information required.--Each institution of 
                  higher education receiving a grant under subsection (a) 
                  shall provide information to each covered student 
                  attending such institution on financial assistance 
                  available from any source other than this section.
                      ``(B) Covered student defined.--In this paragraph, 
                  the term `covered student' means a student receiving an 
                  award under a financial assistance program established 
                  by an institution of higher education in accordance 
                  with this subsection in an amount that does not fully 
                  pay an outstanding tuition payment due to such 
                  institution.
      ``(c) Financial Literacy Survey.--The Secretary shall create, and 
  each student receiving an award under a financial assistance program 
  established by an institution of higher education in accordance with 
  subsection (b) shall complete, an online survey concerning financial 
  literacy. Such survey shall include matters relating to budgeting and 
  saving, student loan debt, and career planning.
      ``(d) Reports.--
              ``(1) Institutions of higher education.--Each institution 
          of higher education receiving a grant under subsection (a) 
          shall annually submit to the Secretary a report containing, for 
          the academic year preceding the date of the submission of such 
          report--
                      ``(A) the number of students enrolled at such 
                  institution that received an award under a financial 
                  assistance program established by such institution in 
                  accordance with subsection (b);
                      ``(B) the number of such students who completed the 
                  degree or certificate program in which such students 
                  were enrolled during such academic year;
                      ``(C) the number of such students who, following 
                  completion of the degree or certificate program in 
                  which such students were enrolled, subsequently 
                  enrolled in a degree or certificate program at a higher 
                  level;
                      ``(D) the number of such students who, following 
                  completion of the degree or certificate program in 
                  which such students were enrolled, subsequently 
                  obtained full-time employment and the average salary 
                  for such students; and
                      ``(E) any other information that the Secretary 
                  considers necessary.
              ``(2) Secretary.--The Secretary shall annually submit to 
          Congress a report on the implementation of this section. Such 
          report shall include--
                      ``(A) the aggregate data submitted by all 
                  institutions of higher education in accordance with 
                  paragraph (1);
                      ``(B) an analysis of the grant program under this 
                  section and any suggestions for improving such program; 
                  and
                      ``(C) any other information that the Secretary 
                  considers necessary.
      ``(e) Authorization of Appropriations.--There are authorized to be 
  appropriated to carry out this section such sums as may be necessary 
  for fiscal years 2015 through 2020.''.
target: Helping College Students Cross the Finish Line Act - Amends title IV (Student Assistance) of the Higher Education Act of 1965 to require the Secretary of Education to award grants to institutions of higher education (IHEs) to establish a financial assistance program that awards funds to at least 100 of the IHE's undergraduate or vocational students each academic year who:  are enrolled on at least a half-time basis; are academically able to complete the degree or certificate program in which they are enrolled within an academic year; are in good academic standing; if they previously received such an award, maintained good academic standing during the academic period for which they received such award; are unable to fully pay an outstanding tuition payment that is due; and without financial assistance, will discontinue the degree or certificate program in which they are enrolled.  Caps the amount of such award. Prohibits a student from receiving an award for more than two semesters or the equivalent of two semesters. Requires the IHEs to provide each student who receives an award that does not fully cover the amount due on the student's outstanding tuition with information on the financial assistance available from any other source. Directs the Secretary to create, and each student that receives an award to complete, an online financial literacy survey that includes matters relating to budgeting and saving, student loan debt, and career planning.
feat_title: Helping College Students Cross the Finish Line Act