H. R. 4137—413 
(4) encourage covered educational institutions to implement 
financial education programs for their students, including those 
that have the highest evaluations. 
(c) REPORT.— 
(1) IN GENERAL.—Not later than 2 years after the date 
of enactment of this Act, the Financial Literacy and Education 
Commission shall submit a report to the Committee on 
Banking, Housing, and Urban Affairs and the Committee on 
Health Education, Labor, and Pensions of the Senate and the 
Committee on Financial Services and the Committee on Edu-
cation and Labor of the House of Representatives on the state 
of financial education among students at covered educational 
institutions. 
(2) CONTENT.—The report required by this subsection shall 
include a description of progress made in enhancing financial 
education with respect to student understanding of financial 
aid, including the programs and evaluations required by this 
section. 
(3) APPEARANCE BEFORE CONGRESS.—The Secretary shall, 
upon request, provide testimony before the Committee on 
Banking, Housing, and Urban Affairs of the Senate and the 
Committee on Financial Services of the House of Representa-
tives concerning the report required by this subsection. 
TITLE XI—STUDIES AND REPORTS 
SEC. 1101. STUDY ON FOREIGN GRADUATE MEDICAL SCHOOLS. 
(a) IN GENERAL.—Not later than 18 months after the date 
of enactment of this Act, the Comptroller General of the United 
States shall— 
(1) complete a study that examines the performance of 
students from the United States receiving Federal student 
financial aid to attend graduate medical schools located outside 
of the United States; 
(2) provide data and make recommendations to the 
National Committee on Foreign Medical Education and Accredi-
tation in a timely manner so as to assist the Secretary of 
Education in the Department of Education’s review required 
under section 102 of the Higher Education Act of 1965 (20 
U.S.C. 1002); and 
(3) submit to the authorizing committees a report setting 
forth the conclusions of the study. 
(b) CONTENTS.—The study conducted under this section shall 
include the following: 
(1) The amount of Federal student financial aid dollars 
that are spent on graduate medical schools located outside 
of the United States every year, and the percentage of overall 
student aid such amount represents. 
(2) The percentage of students of such medical schools 
who pass the examination sponsored by the Federation of State 
Medical Boards of the United States, Inc., and the National 
Board of Medical Examiners the first time. 
(3) The percentage of students of such medical schools 
who pass the United States medical licensing examination after 
taking such examinations multiple times, disaggregated by the
H. R. 4137—414 
number of times the students had to take the examinations 
to pass. 
(4) The percentage of recent graduates of such medical 
schools practicing medicine in the United States, and a descrip-
tion of where the students are practicing and what types of 
medicine the students are practicing. 
(5) The rate of graduates of such medical schools who 
lose malpractice lawsuits or have the graduates’ medical 
licenses revoked, as compared to graduates of graduate medical 
schools located in the United States. 
(6) Recommendations regarding the percentage passing 
rate of the United States medical licensing examination that 
the United States should require of graduate medical schools 
located outside of the United States for Federal student finan-
cial aid purposes. 
SEC. 1102. EMPLOYMENT OF POSTSECONDARY EDUCATION GRAD-
UATES. 
(a) STUDY, ASSESSMENTS, AND RECOMMENDATIONS.—The Comp-
troller General of the United States shall— 
(1) conduct a study of— 
(A) the information that States have on the employ-
ment of students who have completed postsecondary edu-
cation programs; 
(B) the feasibility of collecting information on students 
who complete all types of postsecondary education pro-
grams (including two- and four-year degree, certificate, 
professional, and graduate programs) at all types of institu-
tions of higher education (including public, private non-
profit, and for–profit schools), regarding— 
(i) employment, including— 
(I) the type of job obtained not later than 
six months after the completion of the degree, 
certificate, or program; 
(II) whether such job was related to the course 
of study; 
(III) the starting salary for such job; and 
(IV) the student’s satisfaction with the stu-
dent’s preparation for such job and guidance pro-
vided with respect to securing the job; and 
(ii) for recipients of Federal student aid, the type 
of assistance received, so that the information can be 
used to evaluate various education programs; 
(C) the evaluation systems used by other industries 
to identify successful programs and challenges, set prior-
ities, monitor performance, and make improvements; 
(D) the best means of collecting information from or 
regarding recent postsecondary graduates, including— 
(i) whether a national website would be the most 
effective way to collect information; 
(ii) whether postsecondary education graduates 
could be encouraged to voluntarily submit information 
by allowing a graduate to access aggregated informa-
tion about other graduates (such as graduates from 
the graduate’s school, with the graduate’s degree, or 
in the graduate’s area) if the graduate completes an 
online questionnaire;
H. R. 4137—415 
(iii) whether employers could be encouraged to 
submit information by allowing an employer to access 
aggregated information about graduates (such as 
institutions of higher education attended, degrees, or 
starting pay) if the employer completes an online 
questionnaire to evaluate the employer’s satisfaction 
with the graduates the employer hires; and 
(iv) 
whether 
postsecondary 
institutions 
that 
receive Federal funds or whose students have received 
Federal student financial aid could be required to 
submit aggregated information about the graduates 
of the institutions; and 
(E) the best means of displaying employment informa-
tion; and 
(2) provide assessments and recommendations regarding— 
(A) whether successful State cooperative relationships 
between higher education system offices and State agencies 
responsible for employment statistics can be encouraged 
and replicated in other States; 
(B) whether there is value in collecting additional 
information from, or about, the employment experience 
of individuals who have recently completed a postsecondary 
educational program; 
(C) the most promising ways of obtaining and dis-
playing or disseminating such information; 
(D) if a website is used for such information, whether 
the website should be run by a governmental agency or 
contracted out to an independent education or employment 
organization; 
(E) whether a voluntary information system would 
work, both from the graduates’ and employers’ perspectives; 
(F) the value of such information to future students, 
institutions, accrediting agencies or associations, policy-
makers, and employers, including how the information 
would be used and the practical applications of the informa-
tion; 
(G) whether the request for such information is duplica-
tive of information that is already being collected; and 
(H) whether the National Postsecondary Student Aid 
Survey conducted by the National Center for Education 
Statistics could be amended to collect such information. 
(b) REPORTS.— 
(1) PRELIMINARY REPORT.—Not later than one year after 
the date of enactment of this Act, the Comptroller General 
of the United States shall submit to the authorizing committees 
a preliminary report regarding the study, assessments, and 
recommendations described in subsection (a). 
(2) FINAL
REPORT.—Not later than two years after the 
date of enactment of this Act, the Comptroller General of the 
United States shall submit to the authorizing committees a 
final report regarding such study, assessments, and rec-
ommendations. 
SEC. 1103. STUDY ON IPEDS. 
The Comptroller General of the United States shall— 
(1) conduct a study on the time and cost burdens to institu-
tions of higher education associated with completing the
H. R. 4137—416 
Integrated Postsecondary Education Data System (referred to 
in this section as the ‘‘IPEDS’’) survey, which shall— 
(A) report on the time and cost burden of completing 
the IPEDS survey for four-year, two-year, and less than 
two-year institutions of higher education; 
(B) present recommendations for reducing such burden; 
and 
(C) report on the feasibility of collecting additional 
data from institutions for use in IPEDS, including informa-
tion on the percentage of enrolled undergraduate students 
who graduate within two years (in the case of two-year 
institutions), and four, five, and six years (in the case 
of two- and four-year institutions), disaggregated by race 
and ethnic background and by income categories; 
(2) not later than one year after the date of enactment 
of this Act, submit to the authorizing committees a preliminary 
report regarding the findings of the study described in para-
graph (1); and 
(3) not later than two years after the date of enactment 
of this Act, submit to the authorizing committees a final report 
regarding such findings. 
SEC. 1104. REPORT AND STUDY ON ARTICULATION AGREEMENTS. 
(a) STUDY REQUIRED.—The Secretary of Education shall conduct 
a study to review the articulation agreements at State-supported 
college and university systems, including junior or community col-
leges, as well as those at other institutions of higher education. 
Such study shall consider— 
(1) the extent to which States and institutions have devel-
oped and implemented articulation agreements; 
(2) with respect to the articulation agreements developed— 
(A) the number and types of institutions participating 
in articulation agreements; 
(B) the cost-savings to the participating institutions 
and to the students; 
(C) what strategies are being employed, including 
common course numbering, general education core cur-
riculum, and management systems; 
(D) the effective use of technologies to contain costs, 
maintain quality of instruction, and inform students; and 
(E) a description of the students to whom the articula-
tion agreements are offered and, to the extent practicable, 
a description of the students who take advantage of the 
articulation agreements; 
(3) best practices and innovative strategies employed to 
implement effective articulation agreements; and 
(4) barriers to the implementation of articulation agree-
ments, including technological and informational barriers. 
(b) REPORT.—The Secretary of Education shall submit to the 
authorizing committees an interim report on the study required 
by subsection (a) not later than two years after the date of enact-
ment of this Act and a final report on such study not later than 
January 1, 2013. 
SEC. 1105. REPORT ON PROPRIETARY INSTITUTIONS OF HIGHER EDU-
CATION. 
(a) IN GENERAL.—Not later than two years after the date of 
enactment of this Act, the Comptroller General of the United States