12 2 STA T .3490PUBLIC LA W 110 – 31 5— AU G .14 , 200 8(4)encourag eco v ere d educa ti ona l in s titutions to i mp lement f inancial education programs for t h eir students , including those that have the highest evaluations . (c) REPORT . — ( 1 ) ING ENER AL .— N ot later than 2y ears after the date of enactment of this A ct, the F inancial L iteracy and E ducation C ommission shall su b mit a report to the Committee on B an k ing, H ousing, and U rban Affairs and the Committee on Health Education, Labor, and P ensions of the S enate and the Committee on Financial Services and the Committee on Edu - cation and Labor of the House of Representatives on the state of financial education among students at covered educational institutions. (2) CONTENT.— T he report re q uired by this subsection shall include a description of progress made in enhancing financial education w ith respect to student understanding of financial aid, including the programs and evaluations required by this section. ( 3 ) APPEARAN C E B E F ORE CONGRE S S.—The Secretary shall, upon request, provide testimony before the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representa- tives concerning the report required by this subsection. TI T LEX I —S T UD IES AN D R E PO RTS SEC.1 1 0 1.S TUDYONF O R E IG NGR A DUATE M EDICA L SC H OOLS. (a) IN G ENERAL.—Not later than 1 8 months after the date of enactment of this Act, the Comptroller General of the United States shall— (1) complete a study that e x amines the performance of students from the United States receiving Federal student financial aid to attend graduate medical schools located outside of the United States
(2) provide data and make recommendations to the National Committee on Foreign M edical Education and Accredi- tation in a timely manner so as to assist the Secretary of Education in the D epartment of Education ’ s review required under section 1 0 2 of the Higher Education Act of 1 965 (20 U.S.C. 1002); and (3) submit to the authori z ing committees a report setting forth the conclusions of the study. (b) CONTENTS.—The study conducted under this section shall include the following
(1) The amount of Federal student financial aid dollars that are spent on graduate medical schools located outside of the United States every year, and the percentage of overall student aid such amount represents. (2) The percentage of students of such medical schools who pass the examination sponsored by the Federation of State Medical Boards of the United States, Inc., and the National Board of Medical Examiners the first time. (3) The percentage of students of such medical schools who pass the United States medical licensing examination after taking such examinations multiple times, disaggregated by the Recom me nda-ti on s.D ead l ine.
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