Student loan disclosure: cohort default and other rates.

Existing law establishes the University of California, under the administration of the Regents of the University of California, the California State University, under the administration of the Trustees of the California State University, the California Community Colleges, under the administration of the Board of Governors of the California Community Colleges, independent institutions of higher education, and private postsecondary educational institutions as the segments of postsecondary education in this state. Existing law establishes the Student Aid Commission as the primary state agency for the administration of state-authorized student financial aid programs available to students attending all segments of postsecondary education. Commencing with the 2018–19 academic year, this bill would require a postsecondary educational institution with current or former students receiving certain federal loans to collect specified information available from the United States Department of Education regarding its current and former student borrowers and to publish and make available annually the forbearance, deferment, delinquency, and official cohort default rate percentages, and specified definitions, for each campus on the page of its Internet Web site regarding student financial aid, and if applicable, as part of the School Performance Fact Sheet. The bill would require enforcement of these provisions by the commission, in conjunction with the Bureau for Private Postsecondary Education, as appropriate.