providing need-based grants to students attending IHEs or participating in study abroad programs approved for credit by the IHEs,
providing subgrants to IHEs or consortia of IHEs to improve student outcomes and to develop and implement practices that reduce costs for students, and
providing public accountability and consumer information on the performance of IHEs in the state.
Requires each state grantee to have a comprehensive plan for public postsecondary education that:
has measurable goals for student outcomes, including enrollment and completion;
has measurable college affordability goals;
is aligned with the state's workforce and economic development plan;
is aligned with the state's elementary and secondary education plan; and
addresses the postsecondary education needs of unserved and underserved individuals, including those who are beyond the traditional college age.
Requires each state grantee to report annually to the public on its progress in meeting its public postsecondary education goals and comprehensive plan for public higher education.
Allows private, nonprofit IHEs to participate on a voluntary basis in a state's comprehensive plan for postsecondary education.
Requires at least 70% of the funds allocated to a state to be reserved for need-based grants to students.