Purpose of the Bill

The purpose of this bill is to make postsecondary institutions more transparent about the employment opportunities their programs lead to, and to modify the eligibility criteria for these institutions to receive state student aid in Minnesota.

Main Provisions

• Employment Disclosure: Postsecondary institutions must prominently display on their websites and in their catalogs essential information that helps students make informed decisions about their education. This includes job placement rates, gainful employment outcomes, and median earnings for graduates of specific fields of study.
• Annual Reporting: Institutions must annually report job placement and earnings information to the state office using metrics developed by the office.
• Audit and Compliance: The state office will randomly audit institutions to ensure compliance with these transparency requirements. Any noncompliance will be reported to relevant legislative committees.

Significant Changes to Existing Law

• The bill amends the eligibility requirements for state student aid programs. It now includes conditions related to compliance with displaying employment outcomes and financial standards.
• Institutions that lose eligibility for the federal Pell Grant program will also lose eligibility for state student aid programs.
• Institutions removed from federal financial aid programs due to legal or regulatory violations may also be removed from state student aid programs.

Relevant Terms

• Employment opportunities
• Postsecondary institutions
• State student aid
• Job placement rates
• Gainful employment
• Federal Pell Grant program
• Compliance audit