A. As used in this section, “institution of higher education” means each public institution of higher education and each private institution of higher education, as those terms are defined in § 23.1-100.

B. The Department shall collect and distribute to school boards and publicly post on its website information that assists high school students in making more informed decisions about their futures after graduating from high school and in doing so ensure that such students are aware of the costs and benefits of different educational and certificate programs. The Department shall annually collect and compile such information in consultation with the State Council of Higher Education for Virginia (the Council) and any other entity that can assist the Department with collecting and compiling such information and shall update its distribution materials accordingly each year. The Department shall post and distribute the information to school boards, with any relevant updates, no later than October 1 each year, and shall provide an annual update to the General Assembly on how such information was distributed. Each school board shall ensure that the information is readily available to each high school student and distributed to each high school student who expresses an interest in attending an institution of higher education or completing another training program described in this section. Information to be collected shall include:

1. To the extent available from the Council or other entities or sources, the most in-demand occupations in the Commonwealth, including entry wages and common degree levels required or encouraged for entering such occupations, and lists of offerings at institutions of higher education that offer such programs.

2. The average cost of institutions of higher education, set out by type of institution.

3. The federal and state scholarship, merit, and need-based aid programs available to students for attending institutions of higher education.

4. To the extent available from the Council or other entities or sources, the average monthly student loan payment and the average total amount of student loans for individuals who attend institutions of higher education, with such information distinguished by type of institution, to the extent that the Department and the Council can determine such information.

5. To the extent available from the Council or other entities or sources, the average student loan default rate for students who attend institutions of higher education, to the extent that the Department and the Council can determine such information.

6. To the extent available from the Council or other entities or sources, information relating to the availability of paid internship and externship opportunities for students attending institutions of higher education with such information distinguished by major or area of study.

7. The average time that it takes to complete degrees offered by institutions of higher education.

8. Median annual wages for individuals who graduate from institutions of higher education, distinguished by degree level.

9. To the extent available from the Council or other entities or sources, the average starting salary for individuals who complete career and technical education programs in the Commonwealth.

10. The contact information for each institution of higher education.

11. To the extent available from the Council or other entities or sources, information regarding the degree to which any institutions of higher education that accept public funding align their curricula or programs with the state job market, including the degree to which they contribute to filling the most in-demand jobs in the Commonwealth. The information in this subdivision shall also be included in the annual report sent to the General Assembly described in this subsection.

12. Any other information that the Department or the Council deem appropriate to assist high school students in weighing the costs and benefits of post-high-school training and education.

2022, cc. 343, 344.