Bill > S2700

This bill, known as the DECIDE Act (Debt, Earnings, and Cost Information Disclosure for Education Act), aims to improve transparency for federal student loan borrowers by expanding the College Scorecard with detailed program and institution-level data. The Secretary of Education would be required to annually update the Scorecard with comprehensive information for each educational program, including median annual earnings of students 10 years after receiving federal aid, median federal loan debt for different loan types (Direct Stafford, Graduate PLUS, and Parent PLUS), default rates, and repayment rates. The bill defines "repayment rate" as the share of borrowers in various status categories two years after entering repayment, such as making progress, in deferment, or facing challenges like delinquency or default. By providing this detailed information, the bill seeks to help prospective students and their families make more informed decisions about higher education by clearly showing the potential financial outcomes and loan burdens associated with different academic programs and institutions.

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https://www.congress.gov/bill/119th-congress/senate-bill/2700/all-info