FL H0837

Requires institutions under the Commission for Independent Education (or exempt institutions) that solicit student enrollment to maintain a federal student loan cohort default rate below 30 percent for 3 consecutive years or at or below 40 percent for any given year.

Institutions eligible for William L. Boyd, IV, Florida resident access grants or Access to Better Learning and Education grants that exceed the default rate threshold become ineligible to receive grant payments for incoming students until the rate falls below the threshold.

Institutions under the Commission's jurisdiction with federal student loan cohort default rates exceeding the specified limits shall have their licensure suspended until the rate falls below the threshold.

Ineligibility for grant payments and licensure suspension begin in the academic year following the fall disclosure of the default rate, with a minimum ineligibility period of 1 academic year.

Takes effect July 1, 2015.