This bill mandates that institutions of higher education in New Jersey collect and publicly report employment outcomes and earnings data for their graduates. Specifically, it amends existing law to require that, in addition to information on the cost of attendance, graduation rates, and faculty composition, institutions must also provide detailed employment data for graduates from the three most recent academic years. This data will include the percentage of graduates employed full-time in their field of study and in any field one year after graduation, the percentage of graduates enrolling in graduate programs, and the average salary earned by graduates. The bill specifies that this information must be disaggregated by various demographic factors, including race, ethnicity, and first-generation status.

Furthermore, the bill stipulates that institutions must maintain this employment data on their websites for four years and conduct annual employment surveys of the previous year's graduates. It also requires institutions to submit their consumer information reports to the Secretary of Higher Education for inclusion in a comparative profile that highlights any racial disparities in student loan indebtedness and default rates. The bill aims to enhance transparency and provide prospective students and their families with comprehensive information regarding the outcomes of graduates, thereby aiding in informed decision-making about higher education.

Statutes affected:
Introduced: 18A:3B-44