Update College Reporting Rules

Section 1. Section 607 of the education law, as added by chapter 343 of the laws of 1977, is amended to read as follows:

§ 607. Required disclosure to prospective and matriculated students. 1. The commissioner of education shall promulgate rules and regulations to reflect and administer the intent of section 493A of the Higher Education Act of 1965 as last amended by P.L. 94-482 concerning institutional and financial aid for students who attend higher education institutions that receive state aid dollars.

2. The information, [to be disseminated through but not limited to, college catalogues or bulletins] to be collected through the higher education data system and posted on the state education department's website in a timely and user-friendly manner, shall include in addition to that information cited by congress, [job placement and graduate school placement statistics where available.] statistics on:

a. students who participate in remedial education at, or through, each institution and the graduation rates of such students;

b. the credentials being sought by students disaggregated by degree and certificate;

c. the institutional and program-specific levels of:

(1) the percentage of students who receive (i) federal grants; (ii) federal loans; (iii) state grants; (iv) private loans; (v) private grants; (vi) institutional grants; or (vii) institutional loans;

(2) the average amount of total federal loan debt upon student graduation assumed by students while enrolled at the institution;

EXPLANATION--Matter in italics (underscored) is new; matter in brackets

[ ] is old law to be omitted.

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(3) the average amount of total private loan debt upon student graduation assumed by students while enrolled at the institution;

(4) the average amount of total federal loan debt of students who do not complete a program of study two years after the students' last known enrollment in any institution of higher education;

(5) the average amount of total private loan debt of students who do not complete a program of study two years after the students' last known enrollment in any institution of higher education;

(6) student transfer rates by sector of transfer which shall be defined as the percentage of students who leave an institution and successfully enroll in and complete a program of study at another institution, including whether the receiving institution is a public four year institution, public two year institution, public less than two year institution, private nonprofit four year institution, private nonprofit two year institution, private nonprofit less than two year institution, private for profit four year institution, private for profit two year institution, or private for profit less than two year institution;

(7) rates of continuation to higher levels of education;

(8) the percentage of students who receive the degree level they initially sought;

(9) the outcome measures described in subparagraphs one through six disaggregated on the basis of the following student types:

(i) students who receive a federal Pell grant.

(ii) students who received a loan, but not a federal Pell grant.

(iii) students who did not receive a federal loan.

(iv) students who are identified as veterans or members of the armed forces who received assistance under the post-9/11 veterans educational assistance program under the United States code chapter 33 of title 38.

(v) enrollment status including the following:

(A) first-time, full-time students,

(B) first-time, part-time students,

(C) non-first-time, full-time students,

(D) non-first-time, part-time students.

(vi) enrollment intensity while enrolled at the institution, including the following:

(A) full-time only,

(B) part-time only,

(C) mixed enrollment, both full- and part-time.

(10) earning metrics which shall include the following:

(i) median annual earnings and employment metrics disaggregated by

(A) educational program;

(B) credential received;

(C) educational institution; and

(D) state of employment.

(ii) median annual earnings and employment metrics for each of the categories described in subclauses (A) through (D) of clause (i) of this subparagraph further disaggregated for each of the following time periods:

(A) two years after educational program completion;

(B) six years after educational program completion; and

(C) fifteen years after educational program completion.

d. Other information deemed necessary by the commissioner.

3. All material required by this section and all material contained in the bulletin shall be truthfully representative of the institution.

§ 2. This act shall take effect immediately.