H. R. 768
One Hundred Seventh Congress
of the
United States of America
AT THE FIRST SESSION
Begun and held at the City of Washington on Wednesday,
the third day of January, two thousand and one
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 deter-
mines 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;
H. R. 768—2
(II) the mean and median grant eligibility and
institutional grant aid to first-year students; and
(III) the mean and median parental and stu-
dent contributions to undergraduate costs of
attendance for first year students receiving institu-
tional 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 consider-
ation of—
(I) the time period prior to adoption of the
consensus methodologies at participating institu-
tions; and
(II) the data examined pursuant to subpara-
graph (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 Comp-
troller 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 avail-
able 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 judg-
ment of the Comptroller General, to permit the analysis
H. R. 768—3
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 Comp-
troller General may reasonably require.
(2) NON-PARTICIPATING INSTITUTIONS.—Nothing in this sub-
section shall be construed to require an institution of higher
education that does not participate under the antitrust exemp-
tion 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.
Speaker of the House of Representatives.
Vice President of the United States and
President of the Senate.