SF1989

This bill modifies the eligibility requirements for postsecondary institutions to participate in Minnesota's state student aid programs. Key provisions include:

1. Employment Disclosure Requirement: Institutions must prominently display job placement rates and gainful employment outcomes (e.g., median earnings of graduates) in their catalogs and on their websites. They must also report this information annually to the state.

2. Institution Eligibility for State Student Aid:

   • Institutions must meet academic standards comparable to Minnesota-operated institutions.
   • They must be licensed or registered as postsecondary institutions.
   • Private institutions must participate in the federal Pell Grant program or have students sign disclosure forms stating the institution is not participating.
   • If ownership of an institution changes, it must participate in the Pell Grant program within four years to maintain eligibility.

3. Loss of Federal Financial Aid Eligibility: If an institution loses eligibility for the Pell Grant program or is terminated from federal financial aid programs due to violations, it may also lose eligibility for state student aid.

4. State Oversight: The Minnesota Office of Higher Education will randomly audit institutions for compliance with these requirements and report any noncompliance to legislative committees.

The primary goals of the bill are to increase transparency for students regarding employment prospects and ensure institutions receiving state financial aid meet academic and financial standards.