Sec. 401. Supporting efforts to ensure that institutions of higher education are accountable for ensuring the high value of degrees and credentials
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Congress finds the following: The employment rate for people of the United States between the ages of 21 to 25 has declined by 12 percent from 2000 through 2012. The cost of attending a 4-year public institution of higher education has increased by 32 percent from 2002 through 2012. More than 1 in 4 student loan borrowers are now in default or delinquent on a student loan. There are limited means through which to ensure that institutions of higher education are held accountable for the value of the degrees and credentials obtained by students, or the outcomes of those students.
Student borrowers who obtain a high-value degree or credential are much more likely to be able to find a good paying job and repay their student loan debt. It is the sense of the Senate that Congress should support efforts to ensure that institutions of higher education have strong incentives to ensure that students graduate with degrees and credentials that have a high value, and that will enable graduates to secure good-paying employment in their field of study and enjoy long-term success, by— enhancing accountability for institutions of higher education for the quality and cost of degree programs, including student debt burden; holding institutions of higher education and their leaders financially accountable when the institutions or leaders engage in fraud or misconduct that violates Federal and State laws; creating incentives and tools that will allow State governments and institutions of higher education to curb tuition inflation and maintain investment in higher education; creating incentives for institutions of higher education to direct more resources to their academic programs and to provide pathways to ensure that all students can complete their degrees and credentials in a timely manner; and guaranteeing that the servicing of student loans made, insured, or guaranteed under part B or D of title IV of the Higher Education Act of 1965 ( 20 U.S.C. 1071 et seq. , 1087a et seq.) provided through these institutions of higher education will meet the highest standards of quality, customer service, and compliance with the law to promote borrower success and minimize defaults.
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Sec. 401
Supporting efforts to ensure that institutions of higher education are accountable for ensuring the high value of degrees and credentials
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