Sec. 1110. Study on the impact of Federal financial aid changes on graduate students
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Not later than 1 year after the date of enactment of this Act, the Secretary of Education, acting through the Director of the Institute of Education Sciences, shall begin conducting a study of the impact of recent policy changes to title IV of the Higher Education Act of 1965 on graduate students. The purpose of the study is to examine the effects of significant changes in Federal student financial aid policy on access, affordability, and labor market outcomes for graduate students.
The study shall include an exploration of the impact of the following significant changes: The authorization of PLUS Loans for graduate students. The elimination of Federal Direct Stafford Loans for graduate students. The increase in origination fees due to the sequestration order issued under the Balanced Budget and Emergency Deficit Control Act of 1985 ( 2 U.S.C. 900 et seq. ) for fiscal year 2013. Differentiation in interest rates between undergraduate and graduate Federal Direct Unsubsidized Stafford loans.
Changes to the income-based repayment plan described under section 493C ( 20 U.S.C. 1098e ). The study shall include— information about the effects of the changes described in subsection
(b)on graduate students, disaggregated by the student's age, race, ethnicity, gender, income, status as an individual with a disability, and type of institution of higher education that the graduate student attended for such student's graduate program (including 2-year or 4-year institution of higher education, public or private institution of higher education, and proprietary or nonprofit institution of higher education); and an examination of the effects of the changes described in subsection
(b)on— changes in graduate enrollment patterns (such as increases or decreases in enrollment); net tuition and fees for graduate students; the aggregate amount of Federal student loan debt resulting from graduate education, as a whole and disaggregated by each type of Federal loan under title IV; the median level of individual student loan debt that is the result of graduate education (ensuring that the amount of undergraduate student loan debt is distinguished from the amount of graduate student loan debt); default rates, and the range of amounts of unpaid debt, for title IV loans for graduate students; the use of each type of loan repayment plan under title IV, including income-based repayment, and the median level of graduate student debt for individuals in each repayment plan; the number of individuals who have a graduate degree that enter public service jobs; the level of total educational debt for graduate students, including Federal student loans and private education loans; the correlation between high graduate student debt levels and household consumption (including the purchasing of homes and automobiles) and retirement savings; and such other factors as the Secretary may determine; an analysis of how the effects of the changes described in subsection
(b)differ according to— whether an individual was or is attending graduate school on a full-time or part-time basis; and whether an individual has or is pursuing a master's degree, a doctorate research degree, or a doctorate professional practice degree; a detailed explanation of the impact of such changes on students who were eligible for a Federal Pell Grant as an undergraduate student, women, and traditionally underrepresented populations; and policy recommendations designed to improve access, affordability, and labor market outcomes for graduate students. Not later than 18 months after the commencement of the study described under this section, and annually thereafter, the Secretary shall evaluate the progress of the study and report any short-term findings to the appropriate committees of Congress. Upon completion of the study described under this section, the Secretary shall prepare and submit a final report regarding the findings of the study to the appropriate committees of Congress. There are authorized to be appropriated to carry out this section such sums as may be necessary for fiscal year 2015 and each of the 4 succeeding fiscal years.
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Sec. 1110
Study on the impact of Federal financial aid changes on graduate students
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