HB 1031 Summary

• Requires Florida College System and State University System institutions to track, report, and maintain acceptable student retention and placement rates as part of accountability standards.

• Defines "student default risk index" as an institution's cohort default rate multiplied by the percentage of students with student loans.

• Prohibits institutions with a student default risk index exceeding 20 percent from receiving William L. Boyd IV Florida resident access grant and Access to Better Learning and Education Grant Program payments until the index declines to 20 percent or below.

• Establishes a nine-member Student Loan Debt Advisory Council appointed by the Governor, President of the Senate, and Speaker of the House to compile information on student loan debt and submit annual reports by December 1.

• Requires the Board of Governors to consider student default risk index in the Performance Based Funding Model and directs OPPAGA to study the effectiveness of Florida Bright Futures Scholarship, Boyd Grant, and Access to Better Learning programs by July 2, 2016.