Institutions of Postsecondary Education - Institutional Debt - Report

HB 877 requires Maryland colleges and universities to submit annual reports to the Maryland Higher Education Commission by October 1st, starting in 2027, detailing student institutional debt. The reports must include total student enrollment broken down by demographic groups (like race, age, and residency), total debt amounts by type (tuition, fees, room/board), collection status (e.g., good standing vs. past due), debt charged off as uncollectible, and details on payment plans or debt collection efforts. Institutions face potential civil penalties for failing to submit reports or providing inaccurate data, with the Commission required to follow specific notice and hearing procedures before imposing penalties. This bill aims to increase transparency about student debt practices across Maryland's higher education institutions.