Assembly Bill 166 mandates that higher education institutions in Wisconsin, including the University of Wisconsin System, technical colleges, and private nonprofit colleges, report specific data regarding student costs and outcomes. This data includes average salaries of graduates six months and five years post-graduation, average student debt, graduation rates, total cost of attendance, available financial aid, and the ten most popular degree programs. The Higher Educational Aids Board (HEAB) is tasked with compiling this information into an electronic document that facilitates comparisons among institutions and must provide this document annually to the Department of Public Instruction, along with a list of the 50 most in-demand jobs in the state.

Additionally, the bill requires the state superintendent of public instruction to ensure that school boards provide this electronic document to high school juniors and seniors as part of their academic and career planning services starting in the 2027-28 school year. The new legal language created by this bill includes sections 39.535 and 115.28 (59) (am) of the statutes, which outline the reporting requirements for higher education institutions and the responsibilities of the state superintendent regarding the dissemination of this information to students.