Coming Soon: CGS Webinar on Gainful Employment and Financial Value Transparency Regulations
On October 10, 2023, the U.S. Department of Education released its final regulations on Gainful Employment (GE) and the creation of the Financial Value Transparency (FVT) framework. These regulations require institutions of higher education to be more transparent and accountable by providing students with the cost of postsecondary programs and the financial outcomes they can expect upon the completion of their studies. All institutions of higher education that participate in Title IV, Higher Education Act federal student aid programs must comply with these GE and FVT regulations.
These regulations will go into effect on July 1, 2024.
CGS Action:
CGS has a created a webpage for members to access the final regulations, review the Institutional Reporting Requirements, view a timeline of critical dates and access resources to help prepare for the implementation of the regulations.
On March 19 at 2:00 p.m. EST, CGS will host a webinar on the GE/FVT regulations. Representatives from the U.S. Department of Education and several CGS graduate deans will participate as webinar panelists. Registration for the GE/FVT webinar will be posted on the CGS website on Tuesday, February 20th.
For more information about GE and FVT regulations and other pending legislative and regulatory action, please be sure to sign-up for the bi-monthly Washington Insights & Highlights Newsletter.
Background on the GE/FVT:
The Gainful Employment (GE) accountability regulation applies to certificate and non-degree programs at all institutions, as well as career programs at for-profit institutions. The GE framework uses two metrics to determine whether career programs meet the statutory requirement of preparing students for gainful employment. GE programs that fail to meet these two metrics in a single year will be required to provide warnings to current and prospective students that the program could be at risk of ineligibility for the title IV, HEA Federal student aid programs in subsequent years.
The Financial Value Transparency (FVT) regulation applies to all students in all programs that receive title IV, HEA Federal student aid. The FVT framework requires institutions of higher education to provide students with information such as the cost of a program, sources of financial aid, and outcomes of students enrolled in title IV programs.