Department of Education Extends Reporting & Completers Lists Deadlines To January 15, 2015
Overview
The U.S. Department of Education posted a new announcement on the Knowledge Center website this afternoon announcing a postponement in the deadline for all institutions of higher education to compete and provide their mandatory to the Department AND review of the Completers Lists.
The announcement, entitled “Updated Timeline for Financial Value Transparency and Gainful Employment Reporting and Completers Lists” (fsapartners.ed.gov/knowledge-center/library/electronic-announcements/2024-09-13/updated-timeline-financial-value-transparency-and-gainful-employment-reporting-and-completers-lists), is reprinted for your immediate reference—
Today, the U.S. Department of Education (the Department) is announcing updated deadlines to report required information under the Financial Value Transparency and Gainful Employment (FVT/GE) rules. Institutions will now have until January 15, 2025, to provide all required FVT/GE reporting and review the Completers Lists.
The Department has conducted many listening sessions and has heard from institutions and other stakeholders that additional time to complete this reporting and review of completers lists would allow them to prioritize their work on the FAFSA. The new January 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. At the same time, the Department will work toward producing the first complete set of results under FVT/GE in time to help inform students’ college decisions next award year.
We also recognize that some schools may be interested in reporting their information sooner. For institutions that wish to do so, the Department will offer an opt-in opportunity for a limited number of schools to accept their reporting this fall. We will provide more information on this early opt-in opportunity soon. Schools that have already reported their information will not be included in this early process unless they affirmatively indicate their interest.
The FVT/GE rules include the most effective set of safeguards ever to protect students and taxpayers from career-training programs that fail to provide sufficient financial value. They also provide the most detailed information ever available about what students and families can anticipate paying for college and the financial outcomes they can expect to achieve.
The Department is continuing to address questions and concerns raised about the Completers Lists. As we noted on August 30, feedback from institutions helped the Department identify issues with these lists. The Department is working diligently to resolve those issues and will provide additional updates as soon as they are available.
What’s Next
During CSPEN’s Federal Legislative and Regulatory Update webinar yesterday we shared with those in attendance the added pressure that was placed on the Administration and Department as a bipartisan group of 20 Senators has submitted a letter to Secretary Cardona on September 11th requesting a delay in implement of the FVT/GE reporting and review until July 1. 2025. We share observations regarding the complications with the Department’s release of the Completers List to institutions and the August 30th update in which the Department asked all institutions to “pause” their review of the data so they could resolve issues raised by the community with significant inaccuracies. This was the second halt place on the review process, which was supposed to conclude by October 7th.
In response to a question on the deadline for Completers List review, we stated that the Completers List pause would most likely impact the 60-day review period and had reached out for guidance from Department officials. We noted that we didn’t know what the new deadline would be or when exactly the Department would provide additional guidance, but did suggest that an update would likely be forthcoming based on signals we had received. Thankfully, none of the higher education community and influential and interested parties (i.e. Congress) didn’t have to wait too long for an update.
