GI Bill Oversight Act of 2016

This bill directs the Inspector General of the Department of Veterans Affairs (VA) to apply heightened scrutiny to any program of education if any federal or state agency has made a final determination or settlement that the program used advertising, sales, or enrollment practices that are erroneous, deceptive, or misleading.

The VA shall provide notice of such heightened scrutiny and the reasons for it to an individual who is entitled to VA educational assistance and is enrolled in a course under such program.

The VA shall: (1) monitor allegations of deceptive and misleading program practices, including federal and state investigations; and (2) include information about allegations on the GI Bill Comparison Tool or any similar VA website.

The VA shall: (1) disapprove an educational course provided by an institution of higher learning if the VA determines pursuant to heightened scrutiny that such institution has engaged in erroneous, deceptive, or misleading practices; and (2) provide counseling services to assist affected individuals in transferring to another institution of higher learning.

The VA shall establish an interagency working group to: (1) share information about educational programs that employ deceptive or misleading practices; and (2) enter into information sharing memoranda of understanding with the Inspector Generals of relevant agencies to determine if funds from other federal programs are affected when one agency investigates a program for employing deceptive or misleading practices.