Section 1. Definitions

(a) “Institution of higher education” means a college, university, or similar institution, including a technical or business school, offering postsecondary level academic instruction that leads to an associate or higher degree.

Section 2. Transparency in Secondary Offerings

(a) Prior to the start of each school year, a public school district shall notify the parent of each student enrolled in grade nine or above of:

(1) The availability of, and qualifications for, programs in the public school district under which a student may earn college credit, including advanced placement programs, dual credit programs, joint high school and college credit programs, and international baccalaureate programs and

(2) The availability of, and qualifications for, career and technology education programs or other work-based education programs in the district, including any internship, externship, or apprenticeship programs.

Section 3. Transparency in Postsecondary Offerings

(a) The [insert state higher education authority] shall prepare information comparing the institutions of higher education in this state and post the information on their website in a manner that is accessible to any public or private school student seeking the information. The information shall:

(1) Identify postsecondary education and career opportunities, including information that states the benefits of four-year and two-year higher education programs, postsecondary technical education, skilled workforce careers, and career education programs;

(2) Assist prospective postsecondary students in assessing the value of a certificate program, associate or baccalaureate degree program, or other credential program offered by an institution of higher education by comparing each institution with other institutions using information included in the electronic tools or platforms developed by the department under subsection c of this section;

(3) Identify the state’s future workforce needs, as projected by the [insert state workforce development authority];

(4) Include annual starting wage information and educational requirements for the top 25 highest demand jobs in this state, as identified by the [insert state workforce development authority];

(5) Identify the 40 baccalaureate degree programs with the highest average annual wages following graduation; and

(6) Identify the 20 associate degree or certificate programs with the highest average annual wages following graduation.

(b) The [insert state higher education authority] shall develop one or more electronic tools or platforms to provide information to assist prospective postsecondary students in assessing the value of a certificate program, associate or baccalaureate degree program, or other credential program offered by a public or private institution of higher education by comparing each institution with other institutions regarding:

(1) The relative cost of obtaining the certificate, degree, or other credential, based on the most recent data available to the board from the [insert state workforce development authority], institutions of higher education, the federal government, or any other source from which the board may obtain reliable data, including:

(A) The cost for each of the following at the 25^th percentile, the median, and the 75^th percentile:

(1) Total cost of attendance;

(2) Tuition and fees;

(3) Room and board;

(4) Books and supplies;

(5) Transportation; and

(6) Other costs.

(B) The estimated net cost remaining after subtracting from the amount described by subdivision (A) the average amount of scholarship and grant aid awarded to the typical student for the program;

(2) The value of the certificate, degree, or other credential as measured by comparing:

(A) The median wage earned by students who graduated with the certificate, degree, or other credential from the institution; and

(B) The median student debt of students who graduated with the certificate, degree, or other credential from the institution as compared to the median student debt of all students who graduated with the certificate, degree, or other credential, based on the most recent data available to the board from the [insert state workforce development authority], institutions of higher education, the federal government, or any other source from which the board may obtain reliable data.

(3) The average student debt-to-income ratio of students who graduated with the certificate, degree, or other credential from the institution and have student debt, including the estimated monthly student loan payment, computed using the standard 10-year repayment plan;

(4) Progress on repaying student loans by students who graduated with the certificate, degree, or other credential from the institution; and

(5) Educational outcomes for students seeking the certificate, degree, or other credential, including:

(A) For a program designed to be completed in more than one year, the percentage of students who continue in the program after the first year of study;

(B) The completion rate;

(C) The percentage of students who withdraw or transfer from the institution and subsequently graduate with the certificate, degree, or other credential from another institution of higher education or private or independent institution of higher education;

(D) The percentage of students who withdraw from the institution and do not enroll in the program at another institution of higher education or private or independent institution of higher education within three years of the withdrawal; and

(E) The percentage of graduates employed in the top five industries in this state, as identified by the [insert state workforce development authority], by certificate program, degree program, or other credential program within one year of graduation.

(c) Each public institution of higher education shall include on its website, in a prominent location that is not more than three hyperlinks from the website’s home page, a link to the electronic tools or platforms developed under subsection b of this section.

(d) Any online application form that a student must submit in order to enroll at a public institution of higher education shall contain a prominent link to the electronic tools or platforms developed under subsection (b) of this section.

(e) The [insert state higher education authority] shall adopt rules as necessary to implement this section.