Institutions of Postsecondary Education – Institutional Debt – Report

SB 628 requires Maryland colleges and universities to submit annual reports to the Maryland Higher Education Commission by October 1 each year, detailing institutional debt owed by students. The reports must include total student enrollment (broken down by demographics like race and residency), total debt amounts, collection status (e.g., good standing vs. past due), and specifics on debt types (tuition, fees), payment plans, and collection efforts. The Commission must then summarize these reports for the General Assembly by December 1 each year. This bill mandates transparency around student debt without changing debt collection rules, directly affecting all public and private postsecondary institutions in Maryland that collect student payments.