SEC. 107. CONSUMER INFORMATION AND PUBLIC AC-
COUNTABILITY IN HIGHER EDUCATION. 
Section 131 (20 U.S.C. 1015) is amended to read as 
follows: 
‘‘SEC. 131. CONSUMER INFORMATION AND PUBLIC AC-
COUNTABILITY IN HIGHER EDUCATION. 
‘‘(a) DATA COLLECTION.—
‘‘(1) DATA SYSTEMS.—The Secretary shall con-
tinue to redesign the relevant parts of the postsec-
ondary education data systems to include additional 
data as required by this section and to continue to 
improve the usefulness and timeliness of data col-
lected by such systems. 
‘‘(2) INFORMATION FROM INSTITUTIONS.—The 
Commissioner of Education Statistics shall collect, 
for each academic year and in accordance with 
standard definitions developed by the Commissioner 
of Education Statistics (including definitions devel-
oped under section 131(a)(3)(A) as in effect on the 
day before the date of enactment of the College Ac-
cess and Opportunity Act of 2005) from at least all 
institutions of higher education participating in pro-
grams under title IV, and such institutions shall 
provide, the following data: 
‘‘(A) The tuition and fees charged for a 
full-time undergraduate student.
‘‘(B) The room and board charges for such 
a student. 
‘‘(C) The cost of attendance for a full-time 
undergraduate student, consistent with the pro-
visions of section 472. 
‘‘(D) The average amount of financial as-
sistance received by a full-time undergraduate 
student, including—
‘‘(i) each type of assistance or benefits 
described in 428(a)(2)(C)(ii); 
‘‘(ii) fellowships; 
‘‘(iii) institutional and other assist-
ance; and 
‘‘(iv) loans under parts B and D. 
‘‘(E) The number of students receiving fi-
nancial assistance described in each clause of 
subparagraph (D). 
‘‘(F) The average net price for students re-
ceiving Federal, State, or institutional financial 
assistance. 
‘‘(G) The institutional instructional ex-
penditure per full-time equivalent student. 
‘‘(b) DATA DISSEMINATION.—The Secretary shall 
make available the data collected pursuant to this section, 
including an institution’s college affordability index as cal-
culated in accordance with subsection (c). Such data shall 
be made available in a manner that permits the review 
and comparison of data submissions of individual institu-
tions of higher education. Such data shall be presented 
in a form that is easily accessible and understandable and 
allows parents and students to make informed decisions 
based on the prices for typical full-time undergraduate 
students and the institution’s rate of cost increase. 
‘‘(c) COLLEGE AFFORDABILITY INDEX.—
‘‘(1) IN GENERAL.—The Secretary shall, on the 
basis of the data submitted under subsection (a), 
calculate a college affordability index for each insti-
tution of higher education submitting such data and 
shall make the index available in accordance with 
subsection (b) as soon as operationally possible on 
the Department’s college opportunity online Web 
site. 
‘‘(2) CALCULATION OF INDEX.—The college af-
fordability index shall be equal to—
‘‘(A) the percentage increase in the tuition 
and fees charged for a first-time, full-time, full-
year undergraduate student between the first of 
the 3 most recent preceding academic years and 
the last of those 3 academic years; divided by
‘‘(B) the percentage increase in the Con-
sumer Price Index—All Urban Consumers 
(Current Series) from July of the first of those 
3 academic years to July of the last of those 3 
academic years. 
‘‘(d) OUTCOMES AND ACTIONS.—
‘‘(1) RESPONSE FROM INSTITUTION.—Effective 
on June 30, 2009, an institution that has a college 
affordability index that exceeds 2.0 for any 3-year 
interval ending on or after that date shall provide a 
report to the Secretary, in such a form, at such 
time, and containing such information as the Sec-
retary may require. Such report shall include—
‘‘(A) an explanation of the factors contrib-
uting to the increase in the institution’s costs 
and in the tuition and fees charged to students; 
‘‘(B) a management plan stating the spe-
cific steps the institution is and will be taking 
to reduce its college affordability index; 
‘‘(C) an action plan, including a schedule, 
by which the institution will reduce increases in 
or stabilize, such costs and tuition and fees; and 
‘‘(D) if determinations of tuition and fee 
increases are not within the exclusive control of 
the institution, a description of the agency or
instrumentality of State government or other 
entity that participates in such determinations 
and the authority exercised by such agency, in-
strumentality, or entity. 
‘‘(2) INFORMATION TO THE PUBLIC.—Upon re-
ceipt of the institution’s report and management 
plan under paragraph (1), the Secretary shall make 
the institution’s report required under paragraph (1) 
available to the public in accordance with subsection 
(b). 
‘‘(3) CONSEQUENCES
FOR
2-YEAR
CONTINU-
ATION
OF
FAILURE.—If the Secretary determines 
that the institution has failed to comply with the 
management plan and action plan submitted by the 
institution under this subsection following the next 
2 academic years that begin after the submission of 
such plans, and has failed to reduce the college af-
fordability index below 2.0 for such 2 academic 
years, the Secretary—
‘‘(A) shall make available to the public a 
detailed report provided by the institution on all 
costs and expenditures, and on all tuition and 
fees charged to students, for such 2 academic 
years;
‘‘(B) shall place the institution on an af-
fordability alert status and shall make the in-
formation regarding the institution’s failure 
available in accordance with subsection (b); 
‘‘(C) shall notify the institution’s accred-
iting agency of the institution’s failure; and 
‘‘(D) may require the institution to submit 
to a review and audit by the Inspector General 
of the Department of Education to determine 
the cause of the institution’s failure. 
‘‘(4) INFORMATION TO STATE AGENCIES.—Any 
institution that reports under paragraph (1)(D) that 
an agency or instrumentality of State government or 
other entity participates in the determinations of tui-
tion and fee increases shall, prior to submitting any 
information to the Secretary under this subsection, 
submit such information to, and request the com-
ments and input of, such agency, instrumentality, or 
entity. With respect to any such institution, the Sec-
retary shall provide a copy of any communication by 
the Secretary with that institution to such agency, 
instrumentality, or entity. 
‘‘(5) EXEMPTIONS.—
‘‘(A) RELATIVE PRICE EXEMPTION.—The 
Secretary shall, for any 3-year interval for