Cynthia Hammond and Greg Martin, both of the U.S. Department of Education (ED), provided a Gainful Employment (GE) update to a packed room during the NASFAA National Conference.
Much of the information provided was a review of Gainful Employment rules, regulations, and deadlines to date. However, Hammond reminded attendees that new GE disclosures will be required January 1, 2017. A list of the items which will be required in the new disclosure template based on the new finals rules has not been released. Some of the possible disclosure items provided for in regulation include, but are not limited to, primary occupations by name and Standard Occupational Classification (SOC) code, program completion and withdrawal rates for full-time and less-than-full-time students, length of the program in calendar time, total number of individuals enrolled in the program in the most recently completed award year, most recent program cohort default rate, most recent annual earnings rate. A complete list of all information which may be required in the disclosures is provided in 34 CFR 668.412.
Martin stated ED will identify the information that must be disclosed in the template in the Federal Register. Additionally he stated ED is establishing focus groups to assist in determining which disclosure items may be most effective. ED does not anticipate many changes from the current template; however, GE disclosure items may be similar to verification in that required disclosure items may change from year to year with changes published annually in the Federal Register.
The presenters also responded to questions from attendees about the October 1, 2016 deadline for 2015–16 reporting. Even though October 1 falls on a Saturday this year, Hammond stated there is no plan to change the date at this time. Regulation provides for an October 1 deadline unless ED establishes a different date in a notice published in the Federal Register.
Both presenters reminded attendees that the keys to gainful employment reporting are completeness, accuracy and consistency.
Publication Date: 7/11/2016