Higher Standards for Higher Education Act
This bill requires the Department of Education, in its annual report on cohort default rates (generally, a percentage of how many current and former students default on their student loans in a fiscal year), to collect and report additional data for institutions of higher education with an endowment of $1 billion or more.
To require the Secretary of Education to report default and other data 
 for each program of study of certain institutions of higher education 
for which the Secretary annually reports cohort default data under the 
                     Higher Education Act of 1965.

    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 ``Higher Standards for Higher 
Education Act''.

SEC. 2. COLLECTION AND REPORTING OF DEFAULT DATA FOR CERTAIN PROGRAMS 
              OF STUDY.

    Section 435(m)(4) of the Higher Education Act of 1965 (20 U.S.C. 
1085(m)(4)) is amended by adding at the end the following:
                    ``(E) Program of study reporting requirements.--
                            ``(i) In general.--Subject to clause (ii), 
                        for each fiscal year beginning after the date 
                        of enactment of the Higher Standards for Higher 
                        Education Act, the Secretary shall include in 
                        the annual report required under subparagraph 
                        (C), for each covered institution for which a 
                        cohort default rate is calculated under this 
                        subsection for a fiscal year, the following 
                        with respect each program of study of such 
                        institution in which one or more current and 
                        former students at the institution who enter 
                        repayment in that fiscal year on Federal Direct 
                        Stafford Loans, Federal Direct PLUS Loans, or 
                        Federal Direct Unsubsidized Stafford Loans, 
                        received for attendance at the institution, are 
                        enrolled (in the case of a current student) or 
                        were most recently enrolled prior to entering 
                        repayment (in the case of a former student):
                                    ``(I) The number of those current 
                                and former students who enter repayment 
                                on such loans (or on the portion of a 
                                Federal Direct Consolidation Loan that 
                                is used to repay any such loans) in 
                                that fiscal year.
                                    ``(II) Of the students identified 
                                in subclause (I), the percentage who 
                                default on any such loan before the end 
                                of the second succeeding fiscal year 
                                following the fiscal year in which the 
                                students entered repayment.
                                    ``(III) Of such students, the 
                                percentage who are between 31 and 360 
                                days delinquent on any such loan before 
                                the end of such second succeeding 
                                fiscal year.
                                    ``(IV) Of such students, the 
                                percentage who are in forbearance on 
                                any such loan before the end of such 
                                second succeeding fiscal year.
                                    ``(V) Of such students, the 
                                percentage who are in deferment on any 
                                such loan before the end of such second 
                                succeeding fiscal year.
                                    ``(VI) Of such students, the 
                                percentage who--
                                            ``(aa) have been making 
                                        regular payments on such loans, 
                                        but for whom--

                                                    ``(AA) on any day 
                                                before the end of such 
                                                second succeeding 
                                                fiscal year, the sum of 
                                                the outstanding balance 
                                                due on such loans, 
                                                exceeds

                                                    ``(BB) the sum of 
                                                the outstanding balance 
                                                due on such loans on 
                                                the date that is one 
                                                year preceding the day 
                                                in subitem (AA); and

                                            ``(bb) are not described in 
                                        subclauses (II) through (V).
                                    ``(VII) Of such students, the 
                                percentage who--
                                            ``(aa) have been making 
                                        regular payments on such loans, 
                                        and for whom--

                                                    ``(AA) on any day 
                                                before the end of such 
                                                second succeeding 
                                                fiscal year, the sum of 
                                                the outstanding balance 
                                                due on such loans, is 
                                                less than

                                                    ``(BB) the sum of 
                                                the outstanding balance 
                                                due on such loans on 
                                                the date that is one 
                                                year preceding the day 
                                                in subitem (AA); and

                                            ``(bb) are not described in 
                                        subclauses (II) through (V).
                                    ``(VIII) Of such students, the 
                                percentage who, before the end of such 
                                second succeeding fiscal year--
                                            ``(aa) are making regular 
                                        payments on such loans, and for 
                                        whom--

                                                    ``(AA) the sum of 
                                                the outstanding balance 
                                                due on such loans, is 
                                                less than

                                                    ``(BB) the sum of 
                                                the original balance 
                                                due on such loans; and

                                            ``(bb) are not described in 
                                        subclauses (II) through (V).
                                    ``(IX) Of such students, the 
                                percentage who have paid each such loan 
                                in full before the end of such second 
                                succeeding fiscal year.
                                    ``(X) Of such students, the 
                                percentage whose obligation to repay 
                                all such loans has been discharged 
                                under section 437 before the end of 
                                such second succeeding fiscal year.
                            ``(ii) Exclusion of certain programs of 
                        study.--The Secretary shall exclude under 
                        clause (i) information with respect to any 
                        program of study if the number of students (or 
                        former students) of such program is 
                        insufficient to yield statistically reliable 
                        information or the results would reveal 
                        personally identifiable information about an 
                        individual student (or former student).
                            ``(iii) Definitions.--In this subparagraph:
                                    ``(I) Covered institution.--The 
                                term `covered institution' means an 
                                institution that is the beneficiary of 
                                an endowment fund that has a total 
                                value of not less than $1,000,000,000.
                                    ``(II) Endowment fund.--The term 
                                `endowment fund' means a fund 
                                established by State law, by an 
                                institution of higher education, or by 
                                a foundation which is exempt from 
                                Federal income taxation and is 
                                maintained for the purpose of 
                                generating income for the support of 
                                the institution, but which shall not 
                                include real estate''.
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Higher Standards for Higher Education Act
To require the Secretary of Education to report default and other data for each program of study of certain institutions of higher education for which the Secretary annually reports cohort default data under the Higher Education Act of 1965.
Higher Standards for Higher Education Act
Rep. Van Duyne, Beth