Bond will continue to inform clients as we learn more specifics about the planned roll-out. The anticipation of the first official release of FVT/GE metrics in early 2025 has been established as a pivotal moment for evaluating the impact of these regulations on assessing the quality and financial transparency of various higher educational programs. The FVT/GE regulations encompass a wide array of educational programs, explicitly including those leading to degrees at public, private non-profit and for-profit institutions. Limited exemptions are specified for certain types of programs, such as those designed for transitional postsecondary students or those involved in prison education.
Regulatory Requirements for Financial Value Transparency and Gainful Employment (Updated Sept. 16,
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 page to be notified when new releases of the Clearinghouse’s FVT/GE service become available. For example, a registrar’s office administrator can address enrollment flags while an institutional effectiveness administrator can address cost-related flags. Once the validation on an error or warning flag is complete, the user can validate the update. Any remaining updates (e.g., unworked cost errors) will remain on the student record until a user makes the necessary update to correct the error and submit it for validation.
How do I determine if any of my school’s graduate-level programs qualify as graduate programs for GE reporting?
Programs that are not designed solely for transfer purposes and that lead to a recognized nondegree credential (usually a certificate or diploma) awarded by the institution are not included in the above exception. For example, a two-year program offered by a community college that is designed to provide students with the transfer credit hours that will be acceptable by a four-year college for transfer to a bachelor’s degree program is an Eligible Non-GE Program. The FVT/GE reporting requirements apply to an institution’s currently eligible programs and to any of its previously eligible programs for which the Department has data in the National Student Loan Data System (NSLDS). If a GE program does not meet the D/E rate thresholds or EP measure thresholds in any two out of three consecutive years for which they are calculated, the program will no longer be eligible to participate in Title IV. Beginning on July 1, 2026, an institution must provide a warning to students and prospective students if the GE program could become ineligible for the next award year based on its next calculated D/E rate or EP measure. In other words, GE programs include all Title IV non-degree programs at public and private non-profit institutions (commonly known as certificate or similar types of programs), as well as all Title IV Programs (including degree and non-degree programs) at proprietary institutions.
- A program fails the EP measure if the median annual earnings of the students who completed the program are equal to or less than the earnings threshold.
- For students who have withdrawn from or completed the program, the institution will report cumulative totals for that student, which would cover the student’s entire enrollment in the program, both before and after any withdrawals.
- This inconsistency could be identified in an audit and impact your institution’s FVT/GE reporting by preventing the Graduated status from being accurately included in the Student Level Report and/or Completers list.
- On March 29, 2024, the Department of Education issued both a Dear Colleague Letter and an Electronic Announcement, providing guidance on the requirements of the Financial Value Transparency (FVT) and Gainful Employment (GE) regulations that generally take effect July 1, 2024.
- If a proprietary institution acquires a liberal arts bachelor’s degree program (either by purchase, merger, or any other transaction) after January 1, 2009, the exception does not apply since the program was not continuously provided by the proprietary institution since that date.
- It mandates institutions to provide granular data on program-level and student-level outcomes, especially for students receiving federal aid.
- Schools that have already reported their information will not be included in this early process unless they affirmatively indicate their interest.
Student-Specific Information
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. Note, however, that if an institution financial transparency provides a credential for a non-degree postbaccalaureate teacher training program, the program is considered a GE program that is subject to the FVT/GE requirements. Effective July 1, 2024, institutions of higher education participating in Title IV Federal Student Aid programs must comply with the U.S.
The Implications of the FVT/GE Extend Beyond Compliance
For the D/E rates, we exclude loan debt incurred by the student for enrollment in any program at any other institution. However, we may include loan debt incurred by the student for enrollment in programs at other institutions if the institutions are under common ownership or control. The GE regulations establish an accountability framework for GE Programs that uses the same earnings premium and debt-to-earnings measures to determine whether a GE program remains eligible for Title IV income statement funds. Compliance measures such as CDD are essential for maintaining the integrity of financial systems and preventing illicit activities. Nevertheless, they also pose significant challenges for SMEs, particularly in developing and emerging economies.
What if my institution does not address the “Attest to Qualifying Graduate Programs for AY 2023-2024” section?
- The Department will be responsible for the content and delivery of the acknowledgements, for collecting the acknowledgment from students, and for informing institutions which students have completed the acknowledgment.
- Under this option, the institution may simply divide the total amount(s) by the number of programs and use the result for reporting.
- KYC is a regulated process used to verify a customer’s identity and assess risk, traditionally requiring physical document submission and in-person verification.
- Although subject to the same D/E and EP determinations as GE programs, the failure of a non-GE program — generally, a degree program at a public or private nonprofit institution — to satisfy those metrics will not result in loss of 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.
- Because institutions report institutional debt owed by a student as of the day the student graduated or withdrew from the program, there is no difference between GE Programs and Eligible Non-GE Programs when reporting Total Amounts of institutional debt for a student.
If there are more completers who obtain licensure in a State where the postgraduation training requirements apply and all other conditions are met, the program would be considered a Qualifying Graduate Program. Institutions opting to use transitional reporting and metrics must remain with transitional rates for the first six years of calculation, and institutions that did not elect to use the transitional option in the first year of calculations will remain with standard rate calculations. Regardless of which option a school selects, after the first year of reporting, subsequent reporting after the first year will only cover the most recently completed award year. 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 Car Dealership Accounting 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 Financial Value Transparency (FVT) scope expands reporting requirements well beyond those programs identified as Gainful Employment (GE) programs. Under the July 1, 2024, regulation, institutions will be required to report all programs that share the same four-digit CIP code and have had 30 or more completers in total over the four most recent award years for both GE and non-GE programs. This includes the total number of recipients and non-recipients of Title IV and HEA funds enrolled in the program as well as student-level data for all recipients of Title IV and HEA funds.
Required Student Acknowledgments
- For eKYC to be viable, regulatory frameworks must permit financial institutions to perform CDD without requiring physical document exchanges.Among the 45 economies with available data, 29 have commercial lenders that rely on it for conducting CDD.
- Data on Financial Services from the World Bank’s B-READY report and additional Enterprise Surveys data reveal notable trends in financial access across income groups.
- If at least one of the eligible programs within a GE or Eligible Non-GE Program is not programmatically accredited, you should report “No” for the Programmatically Accredited Indicator for that program.
- The choice of standard or transitional period must be made for the entire institution and cannot be changed once it has been selected.
- Detailed information is provided in the final regulations, and the Department plans to publish additional policy and operational guidance to support institutions in their implementation efforts.
No, the “Graduated Status Reconciliation” list is only presented to institutions that utilize our DegreeVerify service. This is because the reconciliation is performed by the Clearinghouse comparing DegreeVerify records to program-level enrollment reporting within the Clearinghouse system. For schools participating in the Clearinghouse’s FVT/GE reporting solution, our secure site FVT/GE platform will display a counter (a “Count Down”) that visually tracks the delivery timeframe for your institution and is pre-set to start at 50 days. This enables the Draft Completers List to be sent in a timely manner from the Clearinghouse to NSLDS within the federal guideline’s 60-day time allowance.
FVT/GE Completers List Ad Hoc Report
The Financial Value Transparency (FVT) regulations and the Gainful Employment (GE) regulations are separate sets of requirements that apply to different types of educational programs. The introduction of the FVT/GE regulations represents a paradigmatic shift towards a different type of informed decision-making in the realm of higher education. The Department aims to equip students with more comprehensive financial insights and outcomes data. Whether and how these regulations will help students and families weigh the intrinsic value of higher education investments remains to be seen. Many would rightly question the premise of reducing education to a transactional financial-value proposition. Nevertheless, this regulatory framework will likely serve as a new pillar in the evolving educational funding landscape as it aims to inform the diverse stakeholders involved in the higher education ecosystem.