There are some key strategic decisions to weigh as well, such as whether to opt for the “standard ” reporting protocol that looks back at historical data for past cohorts, or the potentially less burdensome “transitional ” approach that starts with just the two most recent award years. Factors like anticipated cost changes, closed programs, low-enroller issues, and private loan volumes could drive that choice. In October 2023, the Biden Administration published its GE Rule, which represents the agency’s third effort at installing a “gainful employment” or “GE” framework in the law.
What is the deadline to finalize the FVT/GE Completers List?
When the Obama administration first advanced its gainful employment rule, and when the Biden administration resurrected it, the clear focus of the rule was on “gainful employment” programs, the vast majority of which were (and still are) offered by proprietary institutions. As such, the rule, while not exclusive to proprietary schools, disproportionally impacted them. Overawards and other Title IV student aid owed to the institution by the student, including as a result of a R2T4 calculation, are not considered institutional debt and therefore should not be reported as part of institutional debt.
- By not completing this section and not accounting for QGPs that may apply to your institution before you begin work on either the Student Level Report (Standard cohort type) or the Program Level Report, you may incur FVT/GE compliance reporting risks.
- To date, this dissatisfaction has largely manifested as concern over compliance with civil rights laws.
- Such programs are also not Eligible Non-GE Programs because they do not lead to a recognized credential provided by the institution.
- Those desiring to better understand (or refresh on) the rule may wish to reference our Desk Guide for the 2023 Final Financial Value Transparency & Gainful Employment Rule.
- For the initial reporting year of 2024, the deadline to submit FVT/GE information to NSLDS for the most recently completed award year and for award years prior to the most recently completed award year is Oct. 1, 2024.
Support Programs
FVT/GE reporting options for schools include batch file submittals via the Student Aid Internet Gateway (SAIG), online reporting, or the spreadsheet submittal process via the NSLDS Professional Access website. Schools that want to report FVT/GE data using the batch process need to enroll a SAIG TG Mailbox for NSLDS FVT/GE reporting. For users who want to use the web to report FVT/GE data, information about online access is also provided in the announcement. The Department established the process for Completers Lists in the final regulations to acknowledge the possibility that minor NSLDS enrollment inconsistencies could have impacts on an institution’s debt-to-earnings or earnings premium measures. The April 5, 2024 FAQ document provides insight on additional issues, including several in-the-weeds operational and reporting maters. They largely echo the DCL and provide more detailed guidance on matters such as the content of any required acknowledgements and warnings.
- Institutions are strongly encouraged to assess available internal data for each applicable cohort.
- A two-year cohort period would consist of the third and fourth award years prior to the year for which the most recent data are available at the time of calculation.
- It should incorporate any corrections or use of professional judgment by the institution as of the date that the institution completes reporting.
- Certain programs also will lose Title IV eligibility if their metrics repeatedly fail to meet stated thresholds.
- This is because the reported information is used by the Department not only for the purpose of calculating the D/E and EP measures, but also for calculating some of the other information the Department will disclose on its website beginning in 2026.
Updated Timeline for Financial Value Transparency and Gainful Employment Reporting and Completers Lists
This volume describes how to report FVT/GE student information to NSLDS via the batch process and online (web and spreadsheet submittal). The U.S. Department of Education (the Department) published the final FVT/GE regulations in October 2023. An overview of the FVT/GE provisions scheduled to be implemented on July 1, 2024 can be found in Dear Colleague Letter GEN-24-04. If you are human user receiving this message, we can add your IP address to a set of IPs that can access FederalRegister.gov & eCFR.gov; complete the CAPTCHA (bot test) below and click “Request Access”. This process will be necessary for each IP address you wish to access the site from, requests are valid Accounts Payable Management for approximately one quarter (three months) after which the process may need to be repeated. Partner with FAS and ensure your institution is prepared for the future of FVT/GE reporting.
How do I determine if any of my school’s graduate-level programs qualify as graduate programs for GE reporting?
Non-GE programs include what is financial transparency all degree programs at public and private non-profit institutions. Note that public and private non-profit institutions may have both GE programs and non-GE programs. Student records appearing on this list were previously reported by your institution to the Clearinghouse on a DegreeVerify transmission, but do not have the corresponding program-level Graduated (G) enrollment status required for compliance reporting to the NSLDS. You can use the “Graduated Status Reconciliation” list to update a student’s program status to Graduated, whenever a Graduated enrollment status isn’t reflected for the completed program.
The reconciliation is performed for DegreeVerify records the Clearinghouse received from your assets = liabilities + equity institution on or after January 1, 2015, that do not have a corresponding Graduated (G) enrollment status at the program level. The Clearinghouse will offer an augmented supplemental process for institutions to use to provide us with their standard or transitional reporting in compliance with the deadline. This approach will 1) mitigate the burden on institutional IT teams to implement the needed student informational system (SIS) changes and 2) provide institutions with additional reporting flexibility so they can provide the new data elements and discrepancy resolutions to the Clearinghouse. Going forward, the Clearinghouse will collaborate with all major SIS vendors to determine how institutions can best integrate the additional data elements into their reporting processes. Essentially, this means that nearly EVERY participating Clearinghouse institution will be impacted by the FVT/GE legislation reporting requirements and should anticipate having to meet the reporting requirements by the deadline. The Department has taken a two-pronged approach to measuring the value of Title IV eligible programs.