; (iv) considerations for accreditation agencies before recognizing competency-based education programs; (v) the role of faculty and faculty involvement in competency-based education programs; and (vi) additional resources that may be needed for adequate oversight of competency-based education programs. (f) Report Not later than 6 years after the date of enactment of this Act, the Council shall prepare and submit a report to the Secretary of Education and to Congress containing the findings of the study under subsection (e)(1) and the recommendations developed under subsection (e)(2). 4103. Improvements to program participation agreements (a) Alcohol and substance misuse prevention Section 487(a)(10) of the Higher Education Act of 1965 ( 20 U.S.C. 1094(a)(10) ) is amended by striking a drug abuse prevention program and inserting an alcohol and substance misuse prevention program in accordance with section 120 . (b) Adjusted cohort default rate Section 487(a)(14) of the Higher Education Act of 1965 is amended by adding at the end the following: (D) Beginning on the date on which the final adjusted cohort default rates are published by the Secretary for fiscal year 2016 under section 435(m), subparagraph (C) shall be applied by substituting adjusted cohort default rate in excess of 5 percent for cohort default rate in excess of 10 percent each place it appears. . (c) Postsecondary data Paragraph (17) of section 487(a) of the Higher Education Act of 1965 ( 20 U.S.C. 1094(a) ) is amended to read as follows: (17) The institution of higher education (or the assigned agent of such institution) shall collect and submit data to the Commissioner for Education Statistics in a timely manner in accordance with— (A) section 132(l); (B) nonstudent-related surveys within the Integrated Postsecondary Education Data System (IPEDS)