12 2 STA T .350 1 PUBLIC LA W 110 – 315 — AU G .1 4, 200 8(3)theprog r ams tr uc ture n ecessar y toa d m i nister direct IDEAl oans
and ( 4 ) w hether the repayment programs that implement income contingent and income -b ased repayment collected through re v enue services , such as programs in England, Aus- tralia, and N ew Z ealand, could be e f fective in collecting loan payments under the income contingent and income-based repay- ment options in the U nited S tates . (c) RECOM ME NDATI ON S . — Not later than one year after the date of enactment of this Act, the Secretary of Education and the Sec- retary of the T reasury shall provide a report on the study conducted under subsection (a) to C ongress. The report shall include rec- ommendations based on the factors e x amined in subsection (b) for implementing direct IDEA loans, including the necessary statu- tory changes needed to implement such repayment option. SEC.1 11 8 . D E V E LOPINGA DDI T IONAL M EAS UR ESO F DEGREE COMPLE - TION. (a) IN G ENE R A L .—The Secretary of Education, in coordination with the Commissioner for Education Statistics and after consulta- tion with representatives from diverse institutions of higher edu- cation, students, experts in the field of higher education policy, State higher education officials, and other sta k eholders in the higher education community, shall issue a report with recommenda- tions to Congress about alternatives ways to measure and report degree or program completion rates for institutions of higher edu- cation receiving funds under title I V of the H igher Education Act of 1965 ( 20 U.S.C. 10 7 0etse q .). (b) M EAS U RES TO TA K E INTO CONSIDERATION.—The alternative measures described in subsection (a) shall consider— (1) the number of degrees awarded and the increase in number of degrees awarded disaggregated by race, ethnicity, gender, and income for all students who have earned a degree; and (2) the increase in degrees awarded in high-need fields such as science, technology, engineering, mathematics, edu- cation, and nursing. SEC. 111 9 . STUD Y ONT H E FINANCIAL AND COMPLIANCE AUDITS OF THE FEDERAL STUDENT LOAN PROGRAM. (a) IN GENERAL.—Not later than one year after the date of enactment of this Act, the Comptroller General of the United States shall complete a study to examine all the financial and compliance audits and reviews required or conducted as part of the proper management of the F ederal student loan programs under parts B and D of title IV of the Higher Education Act of 1965 (20 U.S.C. 1071 et seq. and 10 8 7a et seq.), whether each such audit or review is required under a law or is otherwise performed in order to evaluate a program. (b) CONTENT O F STUD Y .— (1) COM P ARISON OF AUDITS AND RE V IE W S UNDER PARTS B AND D OF TITLE IV.—As part of the study under subsection (a), the Comptroller General of the United States shall compare the audits and reviews of programs under parts B and D of title IV of the Higher Education Act of 1965 (20 U.S.C. 1071 et seq. and 1087a et seq.) for purposes of— (A) determining whether such audits and reviews are comparable among programs; Deadlin e .R e ports . Deadline.
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