FL S0186

Requires independent postsecondary institutions to provide students with comprehensive disclosure statements at least one week before enrollment, including information on licensure status, accreditation, fees, credit transferability, and career requirement limitations.

Establishes annual accountability reporting by the Commission for Independent Education by March 15, requiring licensed institutions to submit graduation rates, retention rates, and placement rates by November 30, with administrative fines up to $1,000 for late submission.

Denies license renewal for institutions with federal student loan cohort default rates exceeding 30 percent and requires institutions to post surety bonds or financial security for first-year operations.

Creates a Closed Institution Panel by October 1, 2017 to manage unlicensed or improper institutional closures and changes the criminal penalty for unlawful closure from a second-degree to a first-degree misdemeanor.

Requires Florida College System and State University System performance funding to consider institutions' federal student loan cohort default rates, and mandates administrator continuing education on state and federal postsecondary regulations by July 1, 2018.