Disclosure of employment opportunities for fields of study requirement; institution eligibility for state student aid modification

This bill requires Minnesota private colleges and universities receiving state student aid to disclose job placement rates and median earnings for each specific field of study in their catalogs and on websites. It mandates annual reporting of this employment data to the Office of Higher Education, using metrics developed by the office. Institutions failing to comply may face audits, and noncompliance could lead to termination of state aid eligibility. The bill directly affects private higher education institutions seeking state financial aid by adding transparency requirements about graduate employment outcomes.