The president of the Connecticut State Colleges and Universities and the Office of Higher Education shall report, biennially, in accordance with the provisions of section 11-4a, to the joint standing committee of the General Assembly having cognizance of matters relating to higher education on state, northeast regional and national trends in (1) the cost of attendance at public and independent institutions of higher education and private career schools, and (2) the availability and utilization of all forms of student financial aid for academic and noncredit vocational courses and programs relative to economic conditions and personal income.