These consequences do not apply if the institution chooses to voluntarily discontinue the program or withdraw it from Title IV eligibility. It will be regularly updated with the latest information on our solution and how institutions should prepare to report FVT/GE data as well as the regulatory landscape. You can also sign up on our FVT/GE resource financial transparency page to be notified when new releases of the Clearinghouse’s FVT/GE service become available. You should ensure there is a PGP key provided on the “Report Encryption” tab in the “Service Profile” for your institution. The FVT/GE reports are secured with an additional layer of PGP encryption, which the Clearinghouse uses to encrypt reports downloaded by all authorized users. Corrections to your Completers List are driven directly by updates to the enrollment data you provide to the Clearinghouse and, subsequently, by the data the Clearinghouse provides to the NSLDS on your behalf.
- 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.
- An institution would be required to provide a written warning to students and prospective students for any year for which the Secretary notifies the institution that the GE program could become ineligible based on its final D/E rates or EP measure for the next award year for which those metrics are calculated.
- The acknowledgement requirements will become effective on July 1, 2026 after the Department has established the program information website.
- Prospective students must be provided such acknowledgments until the Department notifies the institution that the program has passing D/E rate or three years after the institution was last notified that the program had failed, whichever is earlier.
- The final rule contains a financial value transparency framework designed to provide information to the public about educational programs offered by every institution of higher education that participates in the Department’s Title IV student aid programs.
Federal Regulation Reporting (Part : Tips and Strategies for FVT/GE Reporting
On the worksheet, you can add the appropriate G status and Program Status Effective Date (PSED) to apply the Graduated (G) enrollment status in the Clearinghouse database for these students. The Clearinghouse will autogenerate a Graduates Only file that will create the trigger to perform the final update of these students in our database. No, your institution must be active and up to date with the Clearinghouse Enrollment Reporting service to participate in our FVT/GE reporting solution service. The Clearinghouse will leverage enrollment data for multiple award years to meet FVT/GE requirements for the Completers List, Student Level Report, and Program Level Report.
GE Programs
In that situation, the institution should report all students as having “Out-of-State Tuition (OS)”. A First-Professional Degree is the first degree that signifies both completion of the academic requirements for beginning practice in a given profession and a level of professional skill beyond that normally required for a bachelor’s degree. These Frequently Asked Questions (FAQs) provide information and operational guidance on the requirements of the new Financial Value Transparency and Gainful Employment (FVT/GE) regulations. Institutions must review the final regulations as published in the Federal Register on October 10, 2023, to ensure that they are in compliance with all of the FVT/GE requirements. Note that the termination of a GE program is considered a past performance violation under 34 CFR 668.74(a)(1) and results in an institution being treated as not financially responsible.
Benefit from the Clearinghouse’s decades of compliance experience
- An institution will be provided 60 days to correct the information from the date that the Department provides the list to the institution.
- The Clearinghouse will retain your institution’s Final FVT/GE Completers List on the secure site for your review.
- Both debt and earnings cohorts must meet the minimum size of 30 completers for transitional D/E rates to be calculated and released.
- The Department currently does not maintain information about an individual’s receipt of FWS and these students therefore cannot be included on an institution’s completer’s lists.
- In addition to establishing these new metrics and a website to house this information for the public, the Final Rule establishes “passing” thresholds.
Therefore, until such time as the Department can include such individuals using the data in bookkeeping its system, institutions are not required to take any action related to individuals who receive only FWS, including reporting. Generally, all Title IV-eligible programs offered by a proprietary institution are GE Programs, and therefore subject to all of the GE regulatory requirements. First, a course of study that is designed to provide students with the necessary coursework for enrollment in a degree or certificate program, and does not lead to a credential awarded by the institution, is not a GE Program. The same regulations, under 34 CFR 668.16(t), also treat an institution as not administratively capable if at least half of its total Title IV funds in the most recently completed award year were from GE programs that failed either the D/E or EP measures. This determination could impact the institution’s certification status and result in additional Departmental oversight.
- Non-GE programs include all degree programs at public and private non-profit institutions.
- Department of Education published the final rule on financial value transparency and gainful employment (88 Fed. Reg. 70004).
- Additionally, in two separate April 2024 announcements, the Department launched a new FVT/GE topics page on the FSA Knowledge Center and released the first volume of its NSLDS Financial Value Transparency and Gainful Employment (FVT/GE) User Guide.
- Institutions are also required to list individual programs by CIP on their Application for Approval to Participate in Federal Student Financial Aid Programs (E-App).
- For example, if the IRS is unable to match three students out of 100 students, the Secretary orders by amount the debts of the 100 listed students and excludes from the D/E rates calculation the three largest loan debts.
- Department of Education’s (Department) Financial Value Transparency and Gainful Employment regulation (Final Rule).
These reporting requirements are a significant expansion over the 2014 GE regulations that were rescinded July 1, 2019. In addition, the rules contain a new Financial Value Transparency (FVT) framework that will give all students the most detailed information ever available about the cost of postsecondary programs, and the financial outcomes they can expect. It will also help prospective students understand the potential risks involved in their program choices by requiring them to acknowledge viewing this information before enrolling in certificate or graduate programs whose graduates have been determined to face unaffordable debt levels. If a GE program fails either (1) both D/E rate calculations, or (2) the EP measure, in any “two out of three consecutive award years” for which such rates are calculated, it becomes ineligible for Title IV financial aid. If a GE program loses eligibility under these circumstances, the institution may not “seek to reestablish” its eligibility, nor that of a “substantially similar” program (as determined by CIP code and credential level) for three years. This three-year ineligibility period also applies if the institution voluntarily discontinues a program after it has failed the D/E rates or EP measure in a single year and is therefore at risk of losing eligibility.
If you have questions that have not been addressed, please submit them to the FVT/GE Questions mailbox at and include the name and OPE ID number of the institution. The Department plans to publish additional Frequently Asked Questions (FAQs) related to the FVT/GE requirements in the near future. Next week, Federal Student Aid will also announce a new “Topics” page on the Knowledge Center that will include policy and operational information about the FVT/GE requirements. Once the enrollment file is processed by the Clearinghouse, you can update the student on the FVT/GE platform. The answers to these Frequently Asked Questions (FAQs) provide information and operational guidance on the requirements of the FVT/GE regulations.
- Effective July 1, 2024, institutions of higher education participating in Title IV Federal Student Aid programs must comply with the U.S.
- No, the “Graduated Status Reconciliation” list is only presented to institutions that utilize our DegreeVerify service.
- As such, because the program does not lead to a degree, it is Title IV eligible only because it must lead to gainful employment in a recognized occupation (a GE Program).
- For total (TA) reporting, values are cumulative and therefore how the award years are assigned will not impact the total amounts; you will report these amounts for the award year in which the student graduated or withdrew.
- In its analysis of the underlying data, the Department relied upon data on the program enrollment, demographic characteristics, borrowing levels, post-completion earnings and borrower outcomes of students who received Title IV funds for their studies.
Earnings Premium Calculation
These rules, which were published October 10, 2023, and go into effect later this year, will provide students, institutions, and the public the most detailed information Insurance Accounting ever available about what students and families can anticipate paying for college and the financial outcomes they can expect to achieve. The rules also include the most effective requirements ever to protect students and taxpayers from career-training programs that fail to provide sufficient financial value. A program’s annual loan payment―the numerator in both rates―is the annual loan payment for all completers during the cohort.
Debt-to-Earnings Measure
In its submission to us, ED indicated that it did not prepare a written statement under section 202 of the Unfunded Mandates Reform Act of 1995. Requirements for acknowledgements and warnings, and the establishment of the Department’s disclosure website, are effective July 1, 2026. We’ll also update this FAQs page as we obtain additional clarity from Federal Student Aid (FSA) on FVT/GE technical requirements and specifications. For errors and warnings, including how to correct and prevent them, see Student Level Report Errors & Warnings Resolution.
