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Department Delays Financial Value Transparency and Gainful Employment Reporting

Department Delays Financial Value Transparency and Gainful Employment Reporting

Career Education Colleges and Universities (CECU)

March 29, 2024
On Friday, the U.S. Department of Education released an Electronic Announcement on the Financial Value Transparency and Gainful Employment (FVT/GE) regulations, which delays institutional reporting requirements from July 31 until October 1, 2024, to allow institutions more time to compile the necessary data. This delay also provides the Department more time to fix the bungled rollout of the new FAFSA forms and calculations.
The FVT/GE rule will become effective July 1, 2024, however, the Department has extended the initial reporting deadline from July 31, 2024, to October 1, 2024. This announcement comes after the American Council on Education (ACE), CECU, and 20 other higher education associations sent a letter to the Department requesting a delay in the reporting deadline. The associations’ letter was bolstered by a bipartisan Senate letter also calling for a delay.
The Department intends to release policy and operational guidance regarding the new FVT/GE requirements in the upcoming weeks and implement adjustments to the National Student Loan Data System (NSLDS) to facilitate the reporting procedure. In addition to the EA, the Department published a Dear Colleague letter that provides an overview of the Financial Transparency and Gainful Employment provisions scheduled to be implemented on July 1, 2024.
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