On Sept. 13, the Department of Education announced a further extension of the reporting deadline under the Financial Value Transparency and Gainful Employment (FVT/GE) rules until Jan. 15, 2025. The updated timeline will give institutions additional time to complete required reporting, review program completion documentation, and prioritize work on the Free Application for Federal Student Aid (FAFSA).
“The new Jan. 15 FVT/GE reporting deadline will ensure that institutions can prioritize critical activities that might still remain for the 2024-25 FAFSA as well as prepare for the release of the 2025-26 FAFSA,” the Department stated.
The announcement follows higher education community advocacy efforts to extend the federal reporting requirements beyond the prior deadline of Oct. 1. In March, the AAMC joined 21 higher education organizations requesting that the agency provide regulatory relief through a delay in the reporting deadline [refer to Washington Highlights, March 15].
Final rules issued October 2023 established that all colleges and universities will be assessed going forward as part of the new FVT Framework that will use earnings premium and debt-to-earnings measures to gauge how much graduates earn and the amount of student debt they incur. A future federal website will be established to highlight information on typical earnings outcomes, borrowing amounts, cost of attendance, applicable occupational and licensing requirements, and sources of financial aid to foster transparency and help students make informed choices.