College Transparency Act This bill amends the Higher Education Act of 1965 to require the National Center for Education Statistics to establish a secure and privacy-protected data system that contains information about postsecondary students. Specifically, the data system must: evaluate student enrollment patterns, progression, completion, and post-collegiate outcomes, and higher education costs and financial aid at the student level; provide complete and customizable information for students and families making decisions about postsecondary education; reduce the requirements for reporting by colleges and universities; and link with other federal systems of data.