In academic year two thousand sixteen–two thousand seventeen, all non-public institutions of higher education, recognized and approved by the regents of the university of the state of New York, which provide a course of study leading to the granting of a four year post-secondary degree or diploma, except for a non-public degree-granting institution that does not offer a program of study that leads to a baccalaureate degree, or at a registered not-for-profit business school qualified for tax exemption under section 501(c)(3) of the internal revenue code for federal income tax purposes that does not offer a program of study that leads to a baccalaureate degree, shall report to the senate and assembly chairs of the higher education committees on or before August fifteenth, two thousand sixteen, on the following: factors that drive cost increases; tuition trends for the past six years and percentage of year to year increases; total cost of fees; if the institution has an endowment and the amount of such endowment; the average institutional financial aid package by income bracket as defined by the National Center for Education Statistics’ Integrated Post-Secondary Education Data System; graduation rates for four, five and six years; enrollment trends over the past six years; the amount spent to educate students per FTE; the percentage of students who are TAP and Pell eligible; administrative and operating costs and the percentage of those costs funded by tuition; and cost saving measures implemented over the past six years, if any.