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Senate Bill 680 |
Senate Author: West et al. |
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Effective: 6-14-13 |
House Sponsor: Patrick |
Senate Bill 680 amends the Education Code to require the Texas Higher Education Coordinating Board to establish and administer, or to contract with one or more entities for the administration of, a temporary pilot program at selected postsecondary educational institutions to ensure that students of those institutions are informed consumers with regard to all aspects of student financial aid. The bill requires the coordinating board to select at least one institution from each of certain specified categories of postsecondary educational institutions to participate in the program and, in doing so, to give priority to institutions that have a three-year cohort student loan default rate, as reported by the U.S. Department of Education, of more than 20 percent or that has above average growth as compared to the rates of other postsecondary educational institutions in Texas. The bill requires the coordinating board to submit an annual report, beginning in 2016, to the governor, the lieutenant governor, and the speaker of the house of representatives regarding pilot program outcomes, as reflected in the federal student loan default rates reported for the participating institutions, and requires each participating institution to submit a report to the same entities regarding pilot program outcomes at the institution, as reflected in the federal student loan default rate reported for the institution. The bill's provisions expire December 31, 2020.