; and (B) shall be provided— (i) during an entrance counseling session conducted in person; or (ii) online. ; and (2) in paragraph (2), by adding at the end the following new subparagraph: (L) Information relating to the institution's cohort default rate, including— (i) the cohort default rate, as defined in section 435(m), of the institution; (ii) an easy to understand explanation of the cohort default rate; (iii) the percentage of students at the institution of higher education who borrow Federal student loans under this title; (iv) the national average cohort default rate (as determined by the Secretary in accordance with section 435(m)); (v) in the case of an institution with a cohort default rate that is greater than the national average cohort default rate (as described in clause (iv)), a disclosure to the student that the institution's cohort default rate is above the national average; and (vi) in the case of an institution with a cohort default rate that is greater than 30 percent, a disclosure to the students that if the cohort default rate remains greater than 30 percent for the 3 consecutive years— (I) the institution will lose institutional eligibility for the purposes of programs authorized under this title; and (II) the student will no longer be able to receive Federal financial aid at that institution. . 11. Program participation agreements (a) Sense of Congress regarding incentive compensation It is the sense of Congress that— (1) incentive compensation is an inappropriate mechanism in the delivery of higher education for institutions of higher education wishing to participate in programs under title IV of the Higher Education Act of 1965 ( 20 U.S.C. 1001 et seq.)