prices charged to students, time required to 
complete the participating programs, on-time 
completion rates of participating students, and 
indicators of program quality. 
(2) REVIEW.—The Secretary shall review poli-
cies and identify those policies that present impedi-
ments to the development and use of innovative pro-
grams and other nontraditional methods of expand-
ing success and access to education. 
(3) MEASURES.—The Secretary shall establish 
measures to assess the quality of the education pro-
vided by participating programs under this section, 
including a minimum standard of quality that par-
ticipating programs shall meet. 
(4) REPORTS.—The Secretary shall provide re-
ports to the authorizing committees on an annual 
basis regarding— 
(A) the programs authorized under this 
section; and 
(B) the number and types of students re-
ceiving assistance under this section for instruc-
tion leading to a recognized degree or certifi-
cate, including the progress of such students to-
ward recognized certificates and the degree to 
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which participation in such programs leading to 
such certificates increased. 
(5) DUTIES
OF
THE
SECRETARY.—In con-
ducting the program authorized under this section, 
the Secretary shall, on a continuing basis— 
(A) ensure compliance of institutions of 
higher education with the requirements of this 
section (other than the sections and regulations 
that are waived under subsection (e)); 
(B) provide technical assistance; 
(C) monitor fluctuations in the student 
population enrolled in the participating pro-
gram; and 
(D) assess whether each participating pro-
gram is improving the quality of postsecondary 
credentials and meeting the quality control 
measures set by the Secretary. 
(g) CONSUMER PROTECTION FOR STUDENTS.— 
(1) PROGRAM
TERMINATION.—If a program 
funded under this section terminates on its accord at 
any point during which the program is receiving 
funds under this section, or if the Secretary deter-
mines that the program does not meet the minimum 
standard of quality as required under subsection 
(f)(3)— 
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(A) the institution of higher education ad-
ministering the program shall provide imme-
diate notice to students enrolled in the program 
and shall prepare a teach-out plan, as described 
in section 487(f) of the Higher Education Act 
of 1965 (20 U.S.C. 1094(f)); and 
(B) the Secretary shall— 
(i) ensure that— 
(I) no additional program funds 
are distributed to the program; and 
(II) the institution of higher edu-
cation administering the program is in 
compliance with the notice and teach- 
out requirements under subparagraph 
(A); and 
(ii) assess a fine to an institution of 
higher education administering the pro-
gram that is not in compliance with the 
notice and teach-out requirements under 
subparagraph (A). 
(2) NOTICE
AND
DISCLOSURE
FOR
STU-
DENTS.—An institution of higher education admin-
istering a participating program under this section 
shall provide notice to all students before they enroll 
in the participating program that such program is 
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receiving grant funds under this section and may be 
terminated, as described in paragraph (1). 
(h) FINAL
EVALUATION
BY
THIRD-PARTY
RE-
VIEWER.— 
(1) IN GENERAL.—The Secretary shall direct 
an independent third-party evaluator to review all 
participating programs and conduct a final evalua-
tion in order to determine the evidence of the effec-
tiveness of each program in achieving its objectives 
with regard to the quality of the education provided, 
reducing the cost of the degree or certificate pro-
gram, and shortening the amount of time needed to 
complete the degree or certificate program. 
(2) EVALUATION
METHODOLOGY.—The inde-
pendent third-party evaluator shall establish evalua-
tion methodology in carrying out the final evaluation 
under paragraph (1). 
(3) SUBMISSION
TO
AUTHORIZING
COMMIT-
TEES.—The independent third-party evaluator shall 
publicize the final evaluation and submit such eval-
uation to the authorizing committees. 
(4) FUNDING.—Not more than 1 percent of the 
total amount appropriated to carry out this section 
may be used to carry out this subsection. 
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(i) AUTHORIZATION OF APPROPRIATIONS.—There is 
authorized to be appropriated to carry out this section— 
(1) $260,000,000 for fiscal year 2016; and 
(2) such sums as may be necessary for each 
succeeding fiscal year. 
SEC. 4. HIGHER EDUCATION ACCOUNTABILITY. 
(a) PURPOSE; DEFINITION.— 
(1) IN GENERAL.—The purpose of this section 
is to establish minimum institutional accountability 
standards that will be required of all institutions of 
higher education that receive funds or whose stu-
dents receive funds pursuant to title IV of the High-
er Education Act of 1965 (20 U.S.C. 1070 et seq.) 
programs. The standards shall focus on afford-
ability, accessibility for low- and middle-income stu-
dents, and value. 
(2) INSTITUTION OF HIGHER EDUCATION.—In 
this section: 
(A) IN GENERAL.—The term ‘‘institution 
of higher education’’ means an institution of 
higher education described in section 102 of the 
Higher Education Act of 1965 (20 U.S.C. 
1002), except as provided in subparagraphs (B) 
and (C). 
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(B) EXCEPTION.—The term ‘‘institution of 
higher education’’ does not include institutions 
that solely offer graduate or professional degree 
programs of study. 
(C) INSTITUTIONS.—To the extent an in-
stitution offers undergraduate programs of 
study and graduate or professional degree pro-
grams of study, for purposes of this section, the 
term ‘‘institution of higher education’’ with re-
spect to such institutions shall only include the 
undergraduate programs of study. 
(b) COMMISSION ON HIGHER EDUCATION ACCOUNT-
ABILITY STANDARDS.— 
(1) IN GENERAL.—Not later than 90 days after 
the date of enactment of this Act, there shall be es-
tablished a Commission on Higher Education Ac-
countability Standards (referred to in this section as 
the ‘‘Commission’’) to make recommendations on a 
set of minimum accountability standards and the 
measures for assessing compliance with such stand-
ards for institutions of higher education that shall 
focus on affordability, access for low- and middle-in-
come students, and value. 
(2) COMPOSITION OF THE COMMISSION.— 
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