66038.
(a) In order to increase transparency on the growth and prevalence of institutional debt across public institutions of higher education, the Board of Governors of the California Community Colleges and the Trustees of the California State University shall, and the office of the President of the University of California is requested to, require each public institution to report, beginning on or before July 1, 2026, using the uniform format developed pursuant to subdivision (b), and on a biennial basis not later than three months after the end of each public institution’s fiscal year, all of the following information, as of the final day of the institution’s previous fiscal year:(1) The total number and dollar amount of institutional debts at each institution, including a breakdown of the institutional debts considered current and past due.
(2) The total number of payment plans at each institution.
(3) A breakdown of the total number and total dollar amount of institutional debts by both of the following categories:
(A) Dollar amount in increments of five hundred dollars ($500).
(B) The age of the institutional debt in increments of one year.
(4) The total number and dollar amount of institutional debts owed, in whole or in part, as the result of a current or former student’s federal financial aid being returned to the federal government.
(5) A description of any policies related to administrative actions or account holds imposed on current or former students with an outstanding account due to an institutional debt.
(6) The number of students and accounts subject to an administrative hold at each institution.
(7) The total number and dollar amount of institutional debts collected directly by the institution during the prior two fiscal years, without the use of a third-party debt collector or the Franchise Tax Board.
(8) The total number and dollar amount of institutional debts sold or assigned to third-party debt collectors during the prior two fiscal years.
(9) The total number and dollar amount collected on institutional debts through third-party debt collectors during the prior two fiscal years.
(10) The number of institutional debts subject to collection through the Franchise Tax Board and the total dollar amount collected through the Franchise Tax Board during the prior two fiscal years.
(11) The total number and dollar amount of institutional debts that are the result of a loan made by the institution.
(b) In coordination with the Commissioner of Financial Protection and Innovation, the Board of Governors of the California Community Colleges and the Trustees of the California State University shall, and the office of the President of the University of California is requested to, no later than July 1, 2025, develop a uniform format for data collection and ensure data reporting is done in a timely manner.
(c) The Board of Governors of the California Community Colleges and the Trustees of the California State University shall, and the office of the President of the University of California is requested to, report in a publicly accessible manner on their internet websites the data compiled pursuant to this section across each campus on an annual basis.