1. Short title This Act may be cited as the Higher Standards for Higher Education Act . 2. Collection and reporting of default data for certain programs of study Section 435(m)(4) of the Higher Education Act of 1965 ( 20 U.S.C. 1085(m)(4) ) is amended by adding at the end the following: (E) Program of study reporting requirements (i) In general Subject to clause (ii), for each fiscal year beginning after the date of enactment of the Higher Standards for Higher Education Act , the Secretary shall include in the annual report required under subparagraph (C), for each covered institution for which a cohort default rate is calculated under this subsection for a fiscal year, the following with respect each program of study of such institution in which one or more current and former students at the institution who enter repayment in that fiscal year on Federal Direct Stafford Loans, Federal Direct PLUS Loans, or Federal Direct Unsubsidized Stafford Loans, received for attendance at the institution, are enrolled (in the case of a current student) or were most recently enrolled prior to entering repayment (in the case of a former student): (I) The number of those current and former students who enter repayment on such loans (or on the portion of a Federal Direct Consolidation Loan that is used to repay any such loans) in that fiscal year. (II) Of the students identified in subclause (I), the percentage who default on any such loan before the end of the second succeeding fiscal year following the fiscal year in which the students entered repayment. (III) Of such students, the percentage who are between 31 and 360 days delinquent on any such loan before the end of such second succeeding fiscal year. (IV) Of such students, the percentage who are in forbearance on any such loan before the end of such second succeeding fiscal year. (V) Of such students, the percentage who are in deferment on any such loan before the end of such second succeeding fiscal year. (VI) Of such students, the percentage who— (aa) have been making