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, financial aid availability, 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, starting in the 2027-28 school year, the state superintendent of public instruction is required to distribute the HEAB's electronic document to school boards, which must then provide it to high school juniors and seniors as part of their academic and career planning services. This bill aims to enhance the academic and career planning resources available to students by ensuring they have access to relevant data about higher education outcomes and job market demands.