The board must create online tools about postsecondary credential value, and colleges must link to them on their websites.
Sec. 61.09022. INFORMATION TO ASSIST STUDENTS IN ASSESSING VALUE OF POSTSECONDARY CREDENTIALS. (a) From money appropriated or otherwise available for the purpose, the board shall develop one or more electronic tools or platforms to provide information to assist prospective postsecondary students in assessing the value of a certificate program, associate or baccalaureate degree program, or other credential program offered by an institution of higher education or private or independent institution of higher education by comparing each institution with other institutions regarding: (1) the relative cost of obtaining the certificate, degree, or other credential, based on the most recent data available to the board from the Texas Workforce Commission, institutions of higher education, the federal government, or any other source from which the board may obtain reliable data, including: (A) the cost for each of the following at the 25th percentile, the median, and the 75th percentile: (i) total cost of attendance; (ii) tuition and fees; (iii) room and board; (iv) books and supplies; (v) transportation; and (vi) other costs; and (B) the estimated net cost remaining after subtracting from the amount described by Paragraph (A) the average amount of scholarship and grant aid awarded to the typical student for the program; (2) the value of the certificate, degree, or other credential as measured by comparing: (A) the median wage earned by students who graduated with the certificate, degree, or other credential from the institution; and (B) the median student debt of students who graduated with the certificate, degree, or other credential from the institution as compared to the median student debt of all students who graduated with the certificate, degree, or other credential, based on the most recent data available to the board from the Texas Workforce Commission, institutions of higher education, the federal government, or any other source from which the board may obtain reliable data; (3) the average student debt-to-income ratio of students who graduated with the certificate, degree, or other credential from the institution and have student debt, including the estimated monthly student loan payment, computed using the standard 10-year repayment plan; (4) progress on repaying student loans by students who graduated with the certificate, degree, or other credential from the institution; and (5) educational outcomes for students seeking the certificate, degree, or other credential, including: (A) for a program designed to be completed in more than one year, the percentage of students who continue in the program after the first year of study; (B) the completion rate; (C) the percentage of students who withdraw or transfer from the institution and subsequently graduate with the certificate, degree, or other credential from another institution of higher education or private or independent institution of higher education; (D) the percentage of students who withdraw from the institution and do not enroll in the program at another institution of higher education or private or independent institution of higher education within three years of the withdrawal; and (E) the percentage of graduates employed in the top five industries in this state, as identified by the Texas Workforce Commission, by certificate program, degree program, or other credential program within one year of graduation. (b) Each institution of higher education shall include on its Internet website, in a prominent location that is not more than three hyperlinks from the website's home page, a link to the electronic tools or platforms developed by the board under Subsection (a). (c) The board may solicit and accept gifts, grants, and donations from any public or private source to implement this section. (d) The board shall adopt rules as necessary to implement this section. Acts 2023, 88th Leg., R.S., Ch. 378 (H.B. 8), Sec. 25, eff. June 9, 2023. Amended by: Acts 2023, 88th Leg., R.S., Ch. 378 (H.B. 8), Sec. 26, eff. September 1, 2023. Acts 2023, 88th Leg., R.S., Ch. 1011 (H.B. 2920), Sec. 6, eff. June 18, 2023. Amended by: Acts 2023, 88th Leg., R.S., Ch. 1011 (H.B. 2920), Sec. 7, eff. June 18, 2023.