Sec. 132. Administrative data transparency
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Part D of title I ( 20 U.S.C. 1018 et seq.) is amended by adding at the end the following: To improve the transparency of the student aid delivery system, the Secretary and the Chief Operating Officer shall collect and publish information on the performance of student loan programs under title IV in accordance with this section. The Secretary and the Chief Operating Officer shall publish on a publicly accessible website of the Department of Education the following aggregate statistics with respect to the performance of student loans under title IV:
The number of borrowers who paid off the total outstanding balance of principal and interest on their loans before the end of the 10-year or consolidated loan repayment schedule. The number of loans under each type of deferment and forbearance. The average length of time a loan stays in default. The percentage of loans in default among borrowers who completed the program of study for which the loans were made. The number of borrowers enrolled in an income-based repayment plan who make monthly payments of $0 and the average student loan debt of such borrowers.
The number of students whose loan balances are growing because such students are not paying the full amount of interest accruing on the loans. The number of borrowers entering income-based repayment plans to get out of default. The number of borrowers in income-based repayment plans who have outstanding student loans from graduate school, and the average balance of such loans. With respect to the public service loan forgiveness program under section 455(m)— the number of applications submitted and processed; the number of borrowers granted loan forgiveness; the amount of loan debt forgiven; and the number of borrowers granted loan forgiveness, and the amount of the loan debt forgiven, disaggregated by each category of employer that employs individuals in public service jobs (as defined in section 455(m)(3)(B), including— the Federal Government, or a State or local government; an organization that is described in section 501(c)(3) of the Internal Revenue Code of 1986 and exempt from taxation under section 501(a) of such Code; and a non-profit organization not described in subclause (II).
Any other aggregate statistics the Secretary and the Chief Operating Officer determine to be necessary to adequately inform the public of the performance of the student loan programs under title IV. The statistics described in clauses
(i)through
(iii)of paragraph (1)(I) shall be disaggregated— by the number or amount for most recent quarter; by the total number or amount as of the date of publication; by repayment plan; by borrowers seeking loan forgiveness for loans made for an undergraduate course of study; and by borrowers seeking loan forgiveness for loans made for a graduate course of study. The statistics published under paragraph
(1)shall be updated not less frequently than once each fiscal quarter. The Secretary and the Chief Operating Officer shall collect information on the performance of student loans under title IV over time, including— measurement of the cash flow generated by such loans as determined by assessing monthly payments on the loans over time; the income level and employment status of borrowers during repayment; the loan repayment history of borrowers prior to default; the progress of borrowers in making monthly payments on loans after defaulting on the loans; and such other information as the Secretary and the Chief Operating Officer determine to be appropriate. The information collected under paragraph
(1)shall be made available biannually to organizations and researchers that— submit to the Secretary and the Chief Operating officer a request for such information; and enter into an agreement with the National Center for Education Statistics under which the organization or researcher (as the case may be) agrees to use the information in accordance with the privacy laws described in subparagraph (B). The privacy laws described in this subparagraph are the following: Section 183 of the Education Sciences Reform Act of 2002 ( 20 U.S.C. 9573 ). The Privacy Act of 1974 ( 5 U.S.C. 552a ). Section 444 of the General Education Provisions Act (commonly known as the Family Educational Rights and Privacy Act of 1974 ) ( 20 U.S.C. 1232g ). Subtitle A of title V of the E–Government Act of 2002 ( 44 U.S.C. 3501 note). The information described in subparagraph
(A)shall be made available in the format of a data file that contains an statistically accurate, representative sample of all borrowers of loans under title IV. The Secretary and the Chief Operating Officer may enter into cooperative data sharing agreements with other Federal or State agencies to ensure the accuracy of information collected and published under this section. The Secretary and the Chief Operating Officer shall ensure that any information collected, published, or otherwise made available under this section does not reveal personally identifiable information. .
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Sec. 132
Administrative data transparency
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