October 11, 2023
What about the non-Gainful Employment disclosures coming to a government website near you?
With recent publication of the final Gainful Employment (GE) rules, there is still an overlooked aspect of the rules’ impact on nonprofit colleges and universities. Many of those schools’ certificate programs fall under GE, where programs failing GE metrics for two years could lose access to federal financial aid; however, there is also an impact on the more traditional part of these programs, as described in a Department of Education (ED) fact sheet [emphasis added].
Financial Value Transparency
In addition, the rules contain a new Financial Value Transparency (FVT) framework 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.