Sec. 2. Improved determination of cohort default rates
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Section 435 ( 20 U.S.C. 1085 ) is amended— in subsection (a)(2), by adding at the end the following: In any case where the Secretary has determined that the institution has engaged in default manipulation, the Secretary— shall recalculate the cohort default rate for the institution under this section using corrected data and information, for all fiscal years for which the default manipulation has occurred; and using the recalculated cohort default rate, shall redetermine whether the institution is ineligible to participate in a program under this title.
In this section, the term default manipulation means engaging in a device or practice, such as branching, consolidation of campuses, consolidation or manipulation of the identification codes used by the Office of Postsecondary Education to designate campuses and institutions, change of ownership or control, serial forbearance, or any similar device or practice (as determined by the Secretary) when, but for the device or practice, one or more campuses of an institution of higher education would be at risk of cohort default rate sanctions under this section or student default risk sanctions under section 489A. ; and in subsection (m)(3), by striking through the use of and all that follows through the period at the end and inserting through default manipulation. .
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Sec. 2
Improved determination of cohort default rates
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