104 STAT. 2382 PUBLIC LAW 101-542—NOV. 8, 1990 (3) by adding at the end thereof the following new subparagraph: "(L) the completion or graduation rate of certificate- or degree-seeking, full-time students entering such institutions.". (b) (INSTRUCTION OF DISCLOSURE REQUIREMENTS.— Section 485(a) of such Act (42 U.S.C. 1092(a)) is further amended by inserting after paragraph (2) the following new paragraph: "(3) In calculating the completion or graduation rate under subparagraph (L) of paragraph (1) of this subsection or under subsection (e), a student shall be counted as a completion or graduation if, within 150 percent of the normal time for completion of or graduation from the program, the student has completed or graduated from the progrsun, or enrolled in any program of an eligible institution for which the prior program provides substantial preparation. The information required to be disclosed under such subparagraph— "(A) shall be available beginning on July 1, 1993, and each year thereafter to current and prospective students prior to enrolling or entering into any financial obligation; "(B) shall cover the one-year period ending on June 30 of the preceding year; and "(C) shall be updated not less than biennially. "(4) For purposes of this section, institutions may exclude from the information disclosed in accordance with subparagraph (L) of paragraph (1) the completion or graduation rates of students who leave school to serve in the armed services, on official church missions, or with a recognized foreign aid service of the Federal Government.". (c) ANALYSIS OF POTENTIAL INSTITUTIONAL OUTCOMES.—(1) In conjunction with representatives of institutions of higher education, the Secretary shall analyze the feasibility and desirability of making available to students and potential students— (A) the completion or graduation rate of individuals at an institution broken down by program or field of study; (B) the completion or graduation rate of an institution reported by individual schools or academic divisions within the institution; (C) the rate at which individuals who complete or graduate from the program of an institution pass applicable licensure or certification examinations required for employment in a particular vocation, trade, or professional field; (D) the rate at which individuals who complete or graduate from an occupationally specific program and who enter the labor market following completion of or graduation from such a program obtain employment in the occupation for which they are trained; and (E) other institutional outcomes that may be appropriate. (2) In calculating the completion or graduation rate under paragraph (1), a student shall be counted as a completion or graduation if, within 150 percent of the normal time for completion of or graduation from the program, the student has completed or graduated from the program, or enrolled in any program of an eligible institution for which the prior program provides substantial preparation. (d) REPORT.— The Secretary shall submit a report to the appropriate committees of Congress before August 1, 1991 on the analysis conducted pursuant to subsection (c).
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