; and (2) establish the list of standards (and a definition for each such standard) that shall be used by each accrediting agency or association for purposes of section 496(a)(5)(A) of the Higher Education Act of 1965 ( 20 U.S.C. 1099b(a)(5)(A) ) for each of the following domains: (A) Completion (which may include standards on graduation rates or rates of transfer from a 2-year to a 4-year institution). (B) Workforce participation (which may include standards on rates of licensure, job placement, or employment). (C) Measures that assess the progress of an institution toward meeting the standards for completion and workforce participation (which may include standards on retention rates and persistence rates). (b) Recognition of accrediting agency or association Section 496 of the Higher Education Act of 1965 ( 20 U.S.C. 1099b ) is amended— (1) in subsection (a)— (A) in paragraph (5), by striking subparagraphs (A) through (J) and inserting the following: (A) success with respect to student achievement in relation to the institution’s mission (except that the agencies and associations described in paragraph (2)(A)(ii) shall not be subject to this subparagraph), which— (i) shall be assessed using at least 1 standard selected by the agency or association from a list of options for such standards established and defined by the Secretary under section 2(a) of the Quality Higher Education Act of 2019 for each of the following domains— (I) completion; (II) workforce participation; and (III) measures that assess progress toward meeting the completion and workforce participation standards; (ii) may be assessed using different standards selected under clause (i) for each peer group of institutions, as such groups are defined by the agency or association, except that— (I) each standard selected for a peer group of institutions shall be the same standard for, and shall be applied consistently to, all the institutions in the peer group