FL S1484

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, and prohibits institutions exceeding 20 percent from receiving William L. Boyd IV Florida resident access grant and Access to Better Learning and Education grant payments until the index declines to 20 percent or below.

Establishes a nine-member Student Loan Debt Advisory Council appointed by the Governor, Senate President, and House Speaker to review student loan data and recommend policies to reduce student loan debt burden, with required annual reports to legislative and executive leadership.

Directs the Board of Governors to consider student default risk index in the Performance Based Funding Model for state universities.

Requires the Office of Program Policy Analysis and Government Accountability to study the effectiveness of the Florida Bright Futures Scholarship Program, William L. Boyd IV Florida Resident Access Grant Program, and Access to Better Learning and Education Grant Program by July 2, 2016.