PUBLIC LAW 107–72—NOV. 20, 2001

NEED-BASED EDUCATION AID ACT OF 2001

115 STAT. 648 PUBLIC LAW 107–72—NOV. 20, 2001

Public Law 107–72

107th Congress

An Act

To amend the Improving America’s Schools Act of 1994 to extend the favorable

treatment of need-based educational aid under the antitrust laws, 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 ‘‘Need-Based Educational Aid

Act of 2001’’.

SEC. 2. AMENDMENT.

Section 568(d) of the Improving America’s Schools Act of 1994

(15 U.S.C. 1 note) is amended by striking ‘‘2001’’ and inserting

‘‘2008’’.

SEC. 3. GAO STUDY AND REPORT.

(a) STUDY.—

(1) IN GENERAL.—The Comptroller General shall conduct

a study of the effect of the antitrust exemption on institutional

student aid under section 568 of the Improving America’s

Schools Act of 1994 (15 U.S.C. 1 note).

(2) CONSULTATION.—The Comptroller General shall have

final authority to determine the content of the study under

paragraph (1), but in determining the content of the study,

the Comptroller General shall consult with—

(A) the institutions of higher education participating

under the antitrust exemption under section 568 of the

Improving America’s Schools Act of 1994 (15 U.S.C. 1 note)

(referred to in this Act as the ‘‘participating institutions’’);

(B) the Antitrust Division of the Department of Justice;

and

(C) other persons that the Comptroller General determines are appropriate.

(3) MATTERS STUDIED.—

(A) IN GENERAL.—The study under paragraph (1)

shall—

(i) examine the needs analysis methodologies used

by participating institutions;

(ii) identify trends in undergraduate costs of

attendance and institutional undergraduate grant aid

among participating institutions, including—

(I) the percentage of first-year students

receiving institutional grant aid;

15 USC 1 note.

15 USC 1 note.

Need-Based

Educational Aid

Act of 2001.

Nov. 20, 2001

[H.R. 768]

PUBLIC LAW 107–72—NOV. 20, 2001 115 STAT. 649

(II) the mean and median grant eligibility and

institutional grant aid to first-year students; and

(III) the mean and median parental and student contributions to undergraduate costs of

attendance for first year students receiving institutional grant aid;

(iii) to the extent useful in determining the effect

of the antitrust exemption under section 568 of the

Improving America’s Schools Act of 1994 (15 U.S.C.

1 note), examine—

(I) comparison data, identified in clauses (i)

and (ii), from institutions of higher education that

do not participate under the antitrust exemption

under section 568 of the Improving America’s

Schools Act of 1994 (15 U.S.C. 1 note); and

(II) other baseline trend data from national

benchmarks; and

(iv) examine any other issues that the Comptroller

General determines are appropriate, including other

types of aid affected by section 568 of the Improving

America’s Schools Act of 1994 (15 U.S.C. 1 note).

(B) ASSESSMENT.—

(i) IN GENERAL.—The study under paragraph (1)

shall assess what effect the antitrust exemption on

institutional student aid has had on institutional

undergraduate grant aid and parental contribution to

undergraduate costs of attendance.

(ii) CHANGES OVER TIME.—The assessment under

clause (i) shall consider any changes in institutional

undergraduate grant aid and parental contribution to

undergraduate costs of attendance over time for

institutions of higher education, including consideration of—

(I) the time period prior to adoption of the

consensus methodologies at participating institutions; and

(II) the data examined pursuant to subparagraph (A)(iii).

(b) REPORT.—

(1) IN GENERAL.—Not later than September 30, 2006, the

Comptroller General shall submit a report to the Committee

on the Judiciary of the Senate and the Committee on the

Judiciary of the House of Representatives that contains the

findings and conclusions of the Comptroller General regarding

the matters studied under subsection (a).

(2) IDENTIFYING INDIVIDUAL INSTITUTIONS.—The Comptroller General shall not identify an individual institution of

higher education in information submitted in the report under

paragraph (1) unless the information on the institution is available to the public.

(c) RECORDKEEPING REQUIREMENT.— (1) IN GENERAL.—For the purpose of completing the study

under subsection (a)(1), a participating institution shall—

(A) collect and maintain for each academic year until

the study under subsection (a)(1) is completed—

(i) student-level data that is sufficient, in the judgment of the Comptroller General, to permit the analysis

Deadline.

115 STAT. 650 PUBLIC LAW 107–72—NOV. 20, 2001

LEGISLATIVE HISTORY—H.R. 768:

HOUSE REPORTS: No. 107–32 (Comm. on the Judiciary).

CONGRESSIONAL RECORD, Vol. 147 (2001):

Apr. 3, considered and passed House.

Oct. 3, considered and passed Senate, amended.

Nov. 6, House concurred in Senate amendments.

Æ

of expected family contributions, identified need, and

undergraduate grant aid awards; and

(ii) information on formulas used by the institution

to determine need; and

(B) submit the data and information under paragraph

(1) to the Comptroller General at such time as the Comptroller General may reasonably require.

(2) NON-PARTICIPATING INSTITUTIONS.—Nothing in this subsection shall be construed to require an institution of higher

education that does not participate under the antitrust exemption under section 568 of the Improving America’s Schools

Act of 1994 (15 U.S.C. 1 note) to collect and maintain data

under this subsection.

SEC. 4. EFFECTIVE DATE.

This Act and the amendments made by this Act shall take

effect on September 30, 2001.

Approved November 20, 2001.

15 USC 1 note.