; (ii) students who transfer; and (iii) students who do not complete a program of study. (b) Privacy (1) Compliance with FERPA In carrying out this section, an institution of higher education and any personnel of the institution shall not share any personally identifiable information and shall act in accordance with section 444 of the General Education Provisions Act ( 20 U.S.C. 1232g , commonly known as the Family Educational Rights and Privacy Act of 1974 ). (2) Prohibition on use of information Information published pursuant to this section shall not be used by a Federal employee, agency, or officer, or an institution of higher education to take action against an individual. (3) Penalties The Secretary shall establish penalties for a violation of paragraph (1) or (2) that includes both a monetary fine and up to 5 years in prison. (c) Rule of construction Nothing in this section shall be construed to authorize or permit the Secretary or any employee or contractor of the Department to mandate, direct, or control the selection of practices or curriculum by an institution of higher education. . (b) GAO report (1) Study The Comptroller General of the United States shall conduct a study that compiles all the institutional publication of information pursuant to section 494B of the Higher Education Act of 1965, as added by subsection (a) of this section. (2) Report Not later than October 1 of the fourth fiscal year after the date of enactment of this Act, the Comptroller General of the United States shall submit a report containing the results of the study under paragraph (1) to the appropriate committees of Congress. IV School Accountability for Student Loans 401. School accountability for student loans (a) Default rate fine Section 487 of the Higher Education Act of 1965 ( 20 U.S.C. 1094 ), as amended by section 201, is further amended— (1) in subsection (a), by adding at the end the following: (31) The institution will pay a default rate fine that is determined pursuant to subsection (k).