Title: Proprietary Education Interagency Oversight Coordination Improvement Act
Policy area: Education

Summary:
Proprietary Education Interagency Oversight Coordination Improvement Act
This bill requires certain actions to increase federal oversight of proprietary (i.e., for-profit) institutions of higher education (IHEs).
Specifically, the bill establishes the Proprietary Education Interagency Oversight Coordination Committee and sets forth its duties and membership.
The bill also directs the Department of Education (ED) to collect and track student complaints regarding the services or activities of any proprietary IHE that is eligible for federal education assistance. Further, ED must publish a warning list for parents and students that is comprised of proprietary IHEs that have engaged in certain activities, including those that have been sued for financial relief or have pending claims for borrower relief discharge.

[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[S. 5155 Introduced in Senate (IS)]

<DOC>






117th CONGRESS
  2d Session
                                S. 5155

     To establish the Proprietary Education Interagency Oversight 
 Coordination Committee and facilitate the disclosure and reporting of 
    information regarding complaints and investigations related to 
   proprietary institutions of higher education eligible to receive 
                     Federal education assistance.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

            November 30 (legislative day, November 29), 2022

  Mr. Durbin (for himself, Ms. Warren, and Ms. Smith) introduced the 
 following bill; which was read twice and referred to the Committee on 
                 Health, Education, Labor, and Pensions

_______________________________________________________________________

                                 A BILL


 
     To establish the Proprietary Education Interagency Oversight 
 Coordination Committee and facilitate the disclosure and reporting of 
    information regarding complaints and investigations related to 
   proprietary institutions of higher education eligible to receive 
                     Federal education assistance.

    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 ``Proprietary Education Interagency 
Oversight Coordination Improvement Act''.

SEC. 2. DEFINITIONS.

    In this Act:
            (1) Accrediting agency.--The term ``accrediting agency'' 
        means a private educational association that acts as a reliable 
        authority on the quality of education or training provided by 
        an institution of higher education and is recognized by the 
        Secretary of Education under section 496 of the Higher 
        Education Act of 1965 (20 U.S.C. 1099b).
            (2) Executive officer.--The term ``executive officer'', 
        with respect to a proprietary institution of higher education 
        that is a publicly traded corporation, means--
                    (A) the president of such corporation;
                    (B) a vice president of such corporation who is in 
                charge of a principal business unit, division, or 
                function of such corporation, such as sales, 
                administration, or finance; or
                    (C) any other officer or person who performs a 
                policy making function for such corporation, including 
                an executive officer of a subsidiary of the corporation 
                if the officer performs a policy making function for 
                the corporation.
            (3) Federal education assistance.--The term ``Federal 
        education assistance'' when used with respect to a proprietary 
        institution of higher education, means Federal funds that are 
        disbursed or delivered to or on behalf of a student to be used 
        for tuition, fees, instruction, or any component of the 
        student's cost of attendance (as defined in section 472 of the 
        Higher Education Act of 1965 (20 U.S.C. 1087ll)) to attend such 
        institution.
            (4) Institutional debt.--The term ``institutional debt'' 
        means any debt owed by a student or the parent of a student to 
        an institution of higher education, including--
                    (A) debt owed through a private loan program or 
                income share agreement operated by the institution;
                    (B) debt owed from a return of student assistance 
                made, insured, or guaranteed under title IV of the 
                Higher Education Act 1965 (20 U.S.C. 1070 et seq.) to 
                the Department of Education; and
                    (C) debt owed from the student's nonpayment of 
                institutional charges or fees.
            (5) Private education loan.--The term ``private education 
        loan'' means--
                    (A) a loan provided by a private educational lender 
                (as defined in section 140(a) of the Truth in Lending 
                Act (15 U.S.C. 1650(a))) that--
                            (i) is not made, insured, or guaranteed 
                        under title IV of the Higher Education Act of 
                        1965 (20 U.S.C. 1070 et seq.);
                            (ii) is issued expressly for postsecondary 
                        educational expenses to a borrower, regardless 
                        of whether the loan is provided through the 
                        educational institution that the subject 
                        student attends or directly to the borrower 
                        from the private educational lender (as so 
                        defined); and
                            (iii) is not made, insured, or guaranteed 
                        under title VII or title VIII of the Public 
                        Health Service Act (42 U.S.C. 292 et seq. and 
                        296 et seq.); and
                    (B) does not include an extension of credit under 
                an open end consumer credit plan, a reverse mortgage 
                transaction, a residential mortgage transaction, or any 
                other loan that is secured by real property or a 
                dwelling.
            (6) Proprietary institution of higher education.--The term 
        ``proprietary institution of higher education'' has the meaning 
        given the term in section 102(b) of the Higher Education Act of 
        1965 (20 U.S.C. 1002(b)).
            (7) Recruiting and marketing activities.--
                    (A) In general.--Except as provided in subparagraph 
                (B), the term ``recruiting and marketing activities'' 
                means activities that consist of the following:
                            (i) Advertising and promotion activities, 
                        including paid announcements in newspapers, 
                        magazines, radio, television, billboards, 
                        electronic media, naming rights, or any other 
                        public medium of communication, including 
                        paying for displays or promotions at job fairs, 
                        military installations, or college recruiting 
                        events, that are made directly or indirectly to 
                        a student, a prospective student, the public, 
                        an accrediting agency, a State agency, or to 
                        the Secretary by an institution of higher 
                        education, one of its representatives, or any 
                        person with whom the institution has an 
                        agreement to provide educational programs, 
                        advertising, or admissions services.
                            (ii) Misleading statement, 
                        misrepresentation, and substantial 
                        misrepresentation (as defined in section 
                        668.71(c) of title 34, Code of Federal 
                        Regulations, or any successor regulation).
                            (iii) Efforts to identify and attract 
                        prospective students, either directly or 
                        through a contractor or other third party, 
                        including contact concerning a prospective 
                        student's potential enrollment or application 
                        for a grant, a loan, or work assistance under 
                        title IV of the Higher Education Act of 1965 
                        (20 U.S.C. 1070 et seq.) or participation in 
                        preadmission or advising activities, including 
                        soliciting an individual to provide contact 
                        information to an institution of higher 
                        education, including through websites 
                        established for such purpose and funds paid to 
                        third parties for such purpose.
                            (iv) Such other activities as the Secretary 
                        of Education may prescribe, including paying 
                        for promotion or sponsorship of education or 
                        military-related associations.
                    (B) Exceptions.--Any activity that is required as a 
                condition of receipt of funds by an institution under 
                title IV of the Higher Education Act of 1965 (20 U.S.C. 
                1070 et seq.), is specifically authorized under such 
                title, or is otherwise specified by the Secretary of 
                Education, shall not be considered to be a recruiting 
                and marketing activity under subparagraph (A).
            (8) State approval agency.--The term ``State approval 
        agency'' means any State agency that determines whether an 
        institution of higher education is legally authorized within 
        such State to provide a program of education beyond secondary 
        education.
            (9) Veterans service organization.--The term ``veterans 
        service organization'' means an organization that is--
                    (A) recognized by the Secretary of Veterans Affairs 
                for the representation of veterans under section 5902 
                of title 38, United States Code;
                    (B) congressionally chartered under title 36, 
                United States Code, and serves or represents veterans;
                    (C) recognized by the Secretary of Veteran Affairs 
                under section 14.628 of title 38, Code of Federal 
                Regulations (or a successor regulation), as a national 
                organization, State organization, tribal organization, 
                or regional or local organization; or
                    (D) an organization that has a record of 
                demonstrating expertise in, assists in, or serves the 
                interests of veterans in education.

SEC. 3. ESTABLISHMENT OF COMMITTEE.

    (a) Establishment.--There is established a committee to be known as 
the ``Proprietary Education Interagency Oversight Coordination 
Committee'' (referred to in this Act as the ``Committee'') and to be 
composed of the head (or the designee of such head who is designated 
under subsection (d)) of each of the following Federal entities:
            (1) The Department of Education.
            (2) The Consumer Financial Protection Bureau.
            (3) The Department of Justice.
            (4) The Securities and Exchange Commission.
            (5) The Department of Defense.
            (6) The Department of Veterans Affairs.
            (7) The Federal Trade Commission.
            (8) The Department of Labor.
            (9) The Internal Revenue Service.
            (10) At the discretion of the President, any other relevant 
        Federal agency or department.
    (b) Purposes.--The Committee shall have the following purposes:
            (1) To improve enforcement of applicable Federal laws and 
        regulations.
            (2) To increase accountability of proprietary institutions 
        of higher education to students and taxpayers.
            (3) To ensure the promotion of quality education programs.
            (4) To reduce and prevent fraud and abuse by proprietary 
        institutions of higher education.
    (c) Responsibilities.--To meet the purposes described in subsection 
(b), the Committee shall have the following responsibilities:
            (1) Coordinate administrative oversight of proprietary 
        institutions of higher education--
                    (A) such that the Federal agencies represented on 
                the Committee may develop a memorandum of understanding 
                to specify responsibilities of each such Federal agency 
                in creating the report under section 6;
                    (B) to encourage information sharing among the 
                Federal agencies related to Federal investigations, 
                audits, or inquiries of proprietary institutions of 
                higher education; and
                    (C) to increase coordination and cooperation 
                between Federal and State agencies, including State 
                Attorneys General and State approval agencies, with 
                respect to improving oversight and accountability of 
                proprietary institutions of higher education.
            (2) Synthesize cross-agency industry data on proprietary 
        institutions of higher education to--
                    (A) develop an annual report under section 6;
                    (B) publish a ``For-Profit College Warning List for 
                Parents and Students'', in accordance with section 7; 
                and
                    (C) develop consistency among Federal and State 
                agencies in the dissemination of consumer information 
                regarding proprietary institutions of higher education 
                to ensure that students, parents, and other 
                stakeholders have easy access to such information.
    (d) Membership.--
            (1) Designees.--The head of a Federal entity described in 
        subsection (a) may designate a high ranking official of the 
        entity to serve as a designee on the Committee. The designee 
        shall be, whenever possible, the head of the portion of the 
        entity that is most relevant to the purposes described in 
        subsection (b).
            (2) Chairperson.--The Secretary of Education or the 
        designee of such Secretary shall serve as the Chairperson of 
        the Committee.
            (3) Committee support.--The Chairperson of the Committee 
        shall ensure appropriate staff and officials at the Department 
        of Education are available to support Committee-related work.

SEC. 4. MEETINGS AND ADVISORY COMMITTEE.

    (a) Committee Meetings.--The members of the Committee shall meet 
regularly, but not less than once during each quarter of each fiscal 
year, to carry out the purposes described in section 3(b) and 
responsibilities described in section 3(c).
    (b) Proprietary Education Oversight Advisory Committee.--
            (1) In general.--The Committee shall establish a 
        Proprietary Education Oversight Advisory Committee to advise 
        the Proprietary Education Interagency Oversight Coordination 
        Committee that meets not less than twice each fiscal year.
            (2) FACA applicability.--The activities of the Proprietary 
        Education Oversight Advisory Committee shall be subject to the 
        provisions of the Federal Advisory Committee Act (5 U.S.C. 
        App.).
            (3) Membership.--The Proprietary Education Oversight 
        Advisory Committee shall be composed of the following members:
                    (A) State Attorneys General.
                    (B) Representatives from State approval agencies.
                    (C) Representatives from veterans service 
                organizations.
                    (D) Representatives from accrediting agencies.
                    (E) Representatives from civil rights 
                organizations.
                    (F) Representatives from proprietary institutions 
                of higher education.
                    (G) Consumer advocates.
                    (H) Any additional stakeholders deemed relevant by 
                the Proprietary Education Interagency Oversight 
                Coordination Committee to provide input and information 
                to enable the Proprietary Education Interagency 
                Oversight Coordination Committee to carry out the 
                purposes described in section 3(b) and responsibilities 
                in section 3(c).

SEC. 5. COLLECTION AND TRACKING OF COMPLAINTS.

    (a) In General.--In consultation with the Committee, the Secretary 
of Education shall establish a single, toll-free telephone number, a 
website, and a database (or utilize an existing database) to facilitate 
the centralized collection of, monitoring of, and response to student 
complaints regarding the services or activities of any proprietary 
institution of higher education eligible for Federal education 
assistance. The Committee shall coordinate with the Federal agencies 
represented on the Committee to route complaints to such agencies, 
where appropriate.
    (b) Routing Calls to States.--To the extent practicable, State 
approval agencies may receive appropriate complaints from the systems 
established under subsection (a), if--
            (1) the State approval agency system has the functional 
        capacity to receive calls or electronic reports routed by the 
        Department of Education systems;
            (2) the State approval agency has satisfied any conditions 
        of participation in the system that the Department of Education 
        may establish, including treatment of personally identifiable 
        information and sharing of information on complaint resolution 
        or related compliance procedures and resources; and
            (3) participation by the State approval agency includes 
        measures necessary to provide for protection of personally 
        identifiable information that conform to the standards for 
        protection of the confidentiality of personally identifiable 
        information and for data integrity and security that apply to 
        the Federal agencies described in subsection (c).
    (c) Data Sharing Required.--To facilitate preparation of the 
reports required under section 6, supervision and enforcement 
activities, and monitoring of the market for educational services 
provided by any proprietary institution of higher education eligible 
for Federal education assistance, the Committee members shall share 
student complaint information with accrediting agencies, the Federal 
Trade Commission, other Federal agencies, and State agencies, subject 
to the standards applicable to Federal agencies for protection of the 
confidentiality of personally identifiable information and for data 
security and integrity. The accrediting agencies, the Federal Trade 
Commission, and other Federal agencies shall share data relating to 
student complaints regarding educational services provided by any 
proprietary institution of higher education with the Department of 
Education, subject to the standards applicable to Federal agencies for 
protection of confidentiality of personally identifiable information 
and for data security and integrity.

SEC. 6. REPORT.

    (a) In General.--The Committee shall submit an annual report to the 
Committee on Health, Education, Labor, and Pensions of the Senate, the 
Committee on Education and Labor of the House of Representatives, and 
any other committee of Congress that the Committee determines 
appropriate.
    (b) Public Access.--The report described in subsection (a) shall be 
made available to the public in a manner that is easily accessible to 
parents, students, and other stakeholders.
    (c) Contents.--
            (1) In general.--The report shall include--
                    (A) a description of the role of each member of the 
                Committee in achieving the purposes described in 
                section 3(b);
                    (B) an accounting of any action taken by the 
                Federal Government, any member entity of the Committee, 
                or a State to enforce Federal or State laws and 
                regulations applicable to a proprietary institution of 
                higher education;
                    (C) a summary of complaints received, resolved, or 
                pending against each proprietary institution of higher 
                education during the applicable year, including--
                            (i) student complaints collected by the 
                        complaint system established under section 5 or 
                        received by any member entity of the Committee;
                            (ii) any complaint filed by a Federal or 
                        State agency in a Federal, State, local, or 
                        tribal court;
                            (iii) any administrative proceeding by a 
                        Federal or State agency involving noncompliance 
                        of any applicable law or regulation;
                            (iv) any other review, audit, or 
                        administrative process by any Federal or State 
                        agency that results in a penalty, suspension, 
                        or termination from any Federal or State 
                        program; and
                            (v) any complaint, review, audit, or 
                        administrative process initiated against the 
                        proprietary institution of higher education by 
                        an accrediting agency or any adverse action 
                        taken by an accrediting agency during the 
                        applicable year;
                    (D) the data described in paragraph (2) and any 
                other data relevant to proprietary institutions of 
                higher education that the Committee determines 
                appropriate; and
                    (E) recommendations of the Committee for such 
                legislative and administrative actions as the Committee 
                determines are necessary to--
                            (i) improve enforcement of applicable 
                        Federal laws;
                            (ii) increase accountability of proprietary 
                        institutions of higher education to students 
                        and taxpayers;
                            (iii) reduce and prevent fraud and abuse by 
                        proprietary institutions of higher education; 
                        and
                            (iv) ensure the promotion of quality 
                        education programs.
            (2) Data.--
                    (A) Industry-wide data.--The report shall include 
                data on all proprietary institutions of higher 
                education that consists of information regarding--
                            (i) the total amount of Federal education 
                        assistance that proprietary institutions of 
                        higher education received for the previous 
                        academic year, and the percentage of the total 
                        amount of Federal education assistance provided 
                        to institutions of higher education (as defined 
                        in section 102 of the Higher Education Act of 
                        1965 (20 U.S.C. 1002)) for such previous 
                        academic year that reflects such total amount 
                        of Federal education assistance provided to 
                        proprietary institutions of higher education 
                        for such previous academic year;
                            (ii) the total amount of Federal education 
                        assistance that proprietary institutions of 
                        higher education received for the previous 
                        academic year, disaggregated by--
                                    (I) educational assistance in the 
                                form of a loan provided under title IV 
                                of the Higher Education Act of 1965 (20 
                                U.S.C. 1070 et seq.);
                                    (II) educational assistance in the 
                                form of a grant provided under title IV 
                                of the Higher Education Act of 1965 (20 
                                U.S.C. 1070 et seq.);
                                    (III) educational assistance 
                                provided under chapter 33 of title 38, 
                                United States Code;
                                    (IV) assistance for tuition and 
                                expenses under section 2007 of title 
                                10, United States Code;
                                    (V) assistance provided under 
                                section 1784a of title 10, United 
                                States Code; and
                                    (VI) Federal education assistance 
                                not described in subclauses (I) through 
                                (V);
                            (iii) the percentage of the total amount of 
                        Federal education assistance provided to 
                        institutions of higher education (as defined in 
                        section 102 of the Higher Education Act of 1965 
                        (20 U.S.C. 1002)) for such previous academic 
                        year for each of the programs described in 
                        subclauses (I) through (VI) of clause (ii) that 
                        reflects such total amount of Federal education 
                        assistance provided to proprietary institutions 
                        of higher education for such previous academic 
                        year for each of such programs;
                            (iv) the average retention and graduation 
                        rates for students pursuing a degree at 
                        proprietary institutions of higher education;
                            (v) the average cohort default rate (as 
                        defined in section 435(m) of the Higher 
                        Education Act of 1965 (20 U.S.C. 1085(m)) for 
                        proprietary institutions of higher education, 
                        and list of each cohort default rate for each 
                        proprietary institution of higher education;
                            (vi) the average pre-enrollment 
                        expenditures on a per-enrolled-student basis, 
                        including expenditures on recruiting and 
                        marketing activities;
                            (vii) the average educational and general 
                        expenditures (as defined in section 502 of the 
                        Higher Education Act of 1965 (20 U.S.C. 1101a)) 
                        per student, excluding all pre-enrollment 
                        expenditures;
                            (viii) for careers requiring the passage of 
                        a licensing examination--
                                    (I) the passage rate of individuals 
                                who attended a proprietary institution 
                                of higher education taking such 
                                examination to pursue such a career; 
                                and
                                    (II) the passage rate of all 
                                individuals taking such exam to pursue 
                                such a career; and
                            (ix) the use of private education loans at 
                        proprietary institutions of higher education 
                        that includes--
                                    (I) an estimate of the total number 
                                of such loans;
                                    (II) information on the average 
                                debt, default rate, and interest rate 
                                of such loans; and
                                    (III) the names of each lender 
                                providing private education loans to 
                                borrowers with respect to each 
                                proprietary institution of higher 
                                education in the prior academic year, 
                                including--
                                            (aa) the number of 
                                        borrowers receiving loans from 
                                        each lender; and
                                            (bb) the volume of dollars 
                                        provided to borrowers with 
                                        respect to the proprietary 
                                        institution of higher education 
                                        by each lender.
                    (B) Data on publicly traded corporations.--
                            (i) In general.--The report shall include 
                        data on proprietary institutions of higher 
                        education that are publicly traded 
                        corporations, consisting of information on--
                                    (I) any pre-tax profit of such 
                                proprietary institutions of higher 
                                education--
                                            (aa) reported as a total 
                                        amount and an average percent 
                                        of revenue for all such 
                                        proprietary institutions of 
                                        higher education; and
                                            (bb) reported for each such 
                                        proprietary institution of 
                                        higher education;
                                    (II) revenue for such proprietary 
                                institutions of higher education spent 
                                on recruiting and marketing activities, 
                                student instruction, and student 
                                support services, reported--
                                            (aa) as a total amount and 
                                        an average percent of revenue 
                                        for all such proprietary 
                                        institutions of higher 
                                        education; and
                                            (bb) for each such 
                                        proprietary institution of 
                                        higher education;
                                    (III) total compensation packages 
                                of the executive officers of each such 
                                proprietary institution of higher 
                                education;
                                    (IV) a list of institutional loan 
                                programs offered by each such 
                                proprietary institution of higher 
                                education that includes information on 
                                the default and interest rates of such 
                                programs; and
                                    (V) the data described in clauses 
                                (ii) and (iii).
                            (ii) Disaggregated by ownership.--The 
                        report shall include data on proprietary 
                        institutions of higher education that are 
                        publicly traded corporations, disaggregated by 
                        corporate or parent entity, brand name, and 
                        campus, consisting of--
                                    (I) the average total cost of 
                                attendance at each such proprietary 
                                institution of higher education, and 
                                information comparing such total cost 
                                for each such program to--
                                            (aa) the average total cost 
                                        of attendance--

                                                    (AA) at each public 
                                                institution of higher 
                                                education; and

                                                    (BB) at each public 
                                                institution of higher 
                                                education that offers 
                                                the same level of 
                                                education degree or 
                                                certification as the 
                                                proprietary institution 
                                                of higher education; 
                                                and

                                            (bb) the average total cost 
                                        of attendance--

                                                    (AA) at all 
                                                institutions of higher 
                                                education, including 
                                                such institutions that 
                                                are public and such 
                                                institutions that are 
                                                private; and

                                                    (BB) at all 
                                                institutions of higher 
                                                education that offer 
                                                the same level of 
                                                education degree or 
                                                certification as the 
                                                proprietary institution 
                                                of higher education, 
                                                including such 
                                                institutions that are 
                                                public and such 
                                                institutions that are 
                                                private;

                                    (II) total enrollment, 
                                disaggregated by--
                                            (aa) individuals enrolled 
                                        in programs taken online;
                                            (bb) individuals enrolled 
                                        in programs that are not taken 
                                        online; and
                                            (cc) individuals enrolled 
                                        in programs taken both online 
                                        and not online;
                                    (III) the average retention and 
                                graduation rates for students pursuing 
                                a degree at such proprietary 
                                institutions of higher education;
                                    (IV) the percentage of students 
                                enrolled in such proprietary 
                                institutions of higher education who 
                                complete a program of such an 
                                institution within--
                                            (aa) the standard period of 
                                        completion for such program; 
                                        and
                                            (bb) a period that is 150 
                                        percent of such standard period 
                                        of completion;
                                    (V) the average total cost of 
                                attendance for each program at such 
                                proprietary institutions of higher 
                                education;
                                    (VI) the average cohort default 
                                rate, as defined in section 435(m) of 
                                the Higher Education Act of 1965 (20 
                                U.S.C. 1085(m)), for such proprietary 
                                institutions of higher education, and 
                                an annual list of cohort default rates 
                                (as so defined) for all proprietary 
                                institutions of higher education;
                                    (VII) the median Federal 
                                educational debt incurred by students 
                                who complete a program at such a 
                                proprietary institution of higher 
                                education;
                                    (VIII) the median Federal 
                                educational debt incurred by students 
                                who start but do not complete a program 
                                at such a proprietary institution of 
                                higher education;
                                    (IX) the job placement rate for 
                                students who complete a program at such 
                                a proprietary institution of higher 
                                education and the type of employment 
                                obtained by such students;
                                    (X) for careers requiring the 
                                passage of a licensing examination, the 
                                rate of individuals who attended such a 
                                proprietary institution of higher 
                                education and passed such an 
                                examination;
                                    (XI) the number of complaints from 
                                students enrolled in such proprietary 
                                institutions of higher education who 
                                have submitted a complaint to any 
                                member entity of the Committee; and
                                    (XII) the volume of institutional 
                                debt, number of students who owe 
                                institutional debts, and average amount 
                                of institutional debt owed by each 
                                student.
                            (iii) Department of defense and veterans 
                        affairs assistance.--
                                    (I) In general.--To the extent 
                                practicable, the report shall provide 
                                information on the data described in 
                                clause (ii) for individuals using, to 
                                pay for the costs of attending such a 
                                proprietary institution of higher 
                                education, Federal education assistance 
                                provided under--
                                            (aa) chapter 33 of title 
                                        38, United States Code;
                                            (bb) section 2007 of title 
                                        10, United States Code; and
                                            (cc) section 1784a of title 
                                        10, United States Code.
                                    (II) Revenue.--The report shall 
                                provide information on the revenue of 
                                proprietary institutions of higher 
                                education that are publicly traded 
                                corporations that is derived from the 
                                Federal education assistance described 
                                in subclause (I).
                    (C) Comparison data.--To the extent practicable, 
                the report shall provide information comparing the data 
                described in subparagraph (B) for proprietary 
                institutions of higher education that are publicly 
                traded corporations with such data for public 
                institutions of higher education disaggregated by 
                State.
            (3) Accounting of any action.--For the purposes of 
        paragraph (1)(B), the term ``any action'' shall include--
                    (A) a complaint filed by a Federal or State agency 
                in a local, State, Federal, or tribal court;
                    (B) an administrative proceeding by a Federal or 
                State agency involving noncompliance of any applicable 
                law or regulation; or
                    (C) any other review, audit, or administrative 
                process by any Federal or State agency that results in 
                a penalty, suspension, or termination from any Federal 
                or State program.

SEC. 7. FOR-PROFIT COLLEGE WARNING LIST FOR PARENTS AND STUDENTS.

    (a) In General.--Each academic year, the Secretary of Education on 
behalf of the Committee shall publish a list to be known as the ``For-
Profit College Warning List for Parents and Students'' to be comprised 
of proprietary institutions of higher education--
            (1) that have been sued for financial relief by a Federal 
        or State authority, or through a qui tam action in which the 
        Federal Government has intervened;
            (2) that are required to pay a debt or incur a liability 
        from a settlement, arbitration proceeding, or final judgment in 
        a judicial proceeding with a Federal or State agency and the 
        case addresses misrepresentation, fraud, liability under 
        sections 3729 through 3733 of title 31, United States Code 
        (commonly known as the ``False Claims Act''), or other borrower 
        defense to repayment claims;
            (3) that have pending claims for borrower relief discharge 
        under the borrower defense to repayment regulations from 
        students or former students of the institution and the 
        Secretary of Education has formed a group process to consider 
        the claims;
            (4) that have had any eligibility for participation 
        withdrawn or suspended with respect to--
                    (A) educational assistance in the form of a loan 
                provided under title IV of the Higher Education Act of 
                1965 (20 U.S.C. 1070 et seq.);
                    (B) educational assistance in the form of a grant 
                provided under title IV of the Higher Education Act of 
                1965 (20 U.S.C. 1070 et seq.);
                    (C) educational assistance provided under chapter 
                33 of title 38, United States Code;
                    (D) assistance for tuition and expenses under 
                section 2007 of title 10, United States Code;
                    (E) assistance provided under section 1784a of 
                title 10, United States Code; or
                    (F) Federal education assistance not described in 
                subparagraphs (A) through (E); or
            (5) that have been deemed ineligible to receive Federal 
        education assistance for the next year or required to repay 
        Federal education assistance previously received in applicable 
        report year.
    (b) Summary.--The For-Profit College Warning List for Parents and 
Students shall include a summary in plain language of the basis of each 
proprietary institution of higher education's inclusion on the list.
    (c) Procedures.--The Committee shall establish and apply review 
procedures for the For-Profit College Warning List for Parents and 
Students, including evaluation and withdrawal proceedings that 
provide--
            (1) for adequate written specification of--
                    (A) the procedure for identifying proprietary 
                intuitions of higher education for inclusion on the 
                list; and
                    (B) identified deficiencies at the proprietary 
                institutions of higher education; and
            (2) for sufficient opportunity for a written response by a 
        proprietary institution of higher education regarding any 
        deficiencies identified by the Committee--
                    (A) within a timeframe determined by the Committee; 
                and
                    (B) prior to the final publication of the For-
                Profit College Warning List for Parents and Students.
    (d) Publication.--Not later than July 1 of each fiscal year, on 
behalf of the Committee, the Secretary of Education shall publish the 
For-Profit College Warning List for Parents and Students prominently 
and in a manner that is easily accessible to parents, current students, 
prospective students, and other stakeholders. The Secretary of 
Education may incorporate the For-Profit College Warning List for 
Parents and Students into preexisting, widely used platforms.
                                 <all>