The Department of Education on March 29 announced that new Gainful Employment/Financial Value Transparency (GE/FVT) regulatory reporting requirements have been extended until Oct. 1 to give institutions additional time to compile necessary data and contend with ongoing Free Application for Federal Student Aid processing delays. that new Gainful Employment/Financial Value Transparency (GE/FVT) regulatory reporting requirements have been extended until Oct. 1 to give institutions additional time to compile necessary data and contend with ongoing Free Application for Federal Student Aid processing delays. This followed the AAMC joining 21 higher education organizations on a March 14 letter requesting that the agency delay GE/FVT reporting requirements and address other concerns over implementation of recently finalized institutional and programmatic accountability rules. GE/FVT reporting requirements and address other concerns over implementation of recently finalized institutional and programmatic accountability rules.
Final rules issued last October establish that all colleges and universities will be assessed as part of the new FVT Framework using earnings premium (EP) and Debt-to-Earnings measures to gauge how much graduates earn and the amount of student debt they incur. A 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. 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.
Medical school programs will fall into a category that will be assessed on the debt-to-earnings metric six years post-graduation. Programs that fail the established metrics would be required to collect acknowledgements from prospective students. No federal student aid penalties or sanctions are associated with the regulations.
The gainful employment regulations and transparency provisions will take effect July 1, with first reporting by Oct. 1. A federal information sharing website and first acknowledgments are expected by 2026.