Higher Education Reform and Opportunity Act

This bill revises requirements governing student loans and the accreditation of institutions of higher education (IHEs).

Specifically, the bill consolidates federal student loans into one student loan program and phases out loan forgiveness for borrowers.

Additionally, the bill makes postsecondary education courses and programs (e.g., apprenticeship programs) that provide credits toward a postsecondary certification, credential, or degree eligible for federal student aid funding if the courses and programs are accredited by a state that has an alternative accreditation agreement with the Department of Education (ED).

The bill requires IHEs to publish certain enrollment and financial aid information, including (1) the percentage of former financial aid recipients who are employed at various intervals following graduation, and (2) the average amount of total federal student loan debt accrued upon graduation. The Government Accountability Office must compile, study, and report on all such information published by IHEs. Further, the bill prohibits the disclosure of personally identifiable information and directs ED to establish penalties for violations.

Summary by the Congressional Research Service.