This bill amends existing legislation to enhance the transparency of information provided by institutions of higher education in New Jersey. It mandates that these institutions publish comprehensive data on their websites regarding the cost of attendance, graduation rates, faculty composition, and now includes the requirement to report employment data for recent graduates. The bill specifies that institutions must post an annually updated student consumer information report that includes various metrics such as graduation rates disaggregated by demographic groups, financial assistance details, average student loan indebtedness, and employment outcomes for graduates from the last three academic years.

Additionally, the bill outlines the responsibilities of the Secretary of Higher Education in establishing guidelines for data collection and reporting, as well as creating a comparative profile of student consumer information reports from all institutions. This profile will help identify any racial disparities in student loan indebtedness and default rates. The legislation also requires that applicants acknowledge their review of the institution's consumer information report, ensuring that students and their families are well-informed about the financial implications of their educational choices.

Statutes affected:
Introduced: 18A:3B-44, 18A:3B-45
Advance Law: 18A:3B-44, 18A:3B-45