CA AB1340

Requires private postsecondary institutions to collect and retain graduate identifying information, program enrollment data, and student loan debt information for all graduates completing programs on or after January 1, 2020.

Mandates institutions report collected data annually to the Bureau for Private Postsecondary Education, which must match the data with wage data from the Employment Development Department to fulfill federal Workforce Innovation and Opportunity Act reporting requirements.

Requires the Bureau to publish program-level and institution-level statistics on graduate earnings and student debt burdens on its website, with data reported at 2 years and 5 years after graduation.

Permits the Bureau for Private Postsecondary Education to access quarterly wage data from the Employment Development Department for labor market outcome reporting, with provisions subject to state and federal privacy laws.

Implementation provisions do not take effect until the Director of Consumer Affairs certifies the Bureau's information technology system is updated to process required data, with institutions having 120 days from notification to comply.