Accountability in Student Loan Data Act of 2024

This bill establishes an "adjusted cohort default rate" to more accurately assess student loan repayment performance at colleges. It modifies how default rates are calculated by excluding students in non-mandatory forbearance for 18-36 months from repayment counts and counting those in forbearance over 3 years as defaults. Institutions with adjusted rates above 10% face "progress period status" (warning), while those above 20% risk losing federal funding for up to three years. The law also creates new grants to help eligible institutions (like those serving many low-income students) improve student outcomes and reduce default rates.