NASFAA Presses New Administration to Extend GE/FVT Reporting Deadline to July 2025
By Maria Carrasco, NASFAA Staff Reporter
With a new presidential administration in office, NASFAA, along with over 50 higher education organizations, called on the Department of Education (ED) to extend the institutional reporting deadline for gainful employment (GE) and financial value transparency (FVT).
Earlier in January, ED announced that it reopened the GE and FVT reporting process until February 18 to provide institutions, which were unable to complete their submissions, more time. This new deadline applies only to institutional data reporting and not to Completers Lists, which remains closed as of January 15.
The letter, led by the American Council on Education (ACE), noted that many institutions had difficulties submitting their reports. Specific reasons why included; lack of clear guidance from ED; challenges with institutional student information software; inaccuracies in institutional Completers Lists; challenges with the National Student Clearinghouse data; and more, the organizations wrote.
Further, the organizations stress that it is unacceptable that erroneous data has been transmitted to the IRS to calculate debt-to-earnings ratios and the earnings premium measures, which ultimately institutions will be held accountable for. Therefore, the organizations are asking ED to terminate this process and only send data to the IRS after institutions have been given time to report with clear guidance.
“While the issues with the reporting burden is one that this new administration is inheriting, you have an opportunity to pursue a new approach that ensures institutions have an adequate amount of time to report the data,” the letter reads. “Institutions should not be penalized for data errors when it has been clear that more time was needed for accurate reporting.”
The organizations also renewed the request of moving the GE and FVT reporting deadline to July 2025 – a request NASFAA and NASFAA members have made multiple times.
“While we are asking for a delay until at least July 2025, we understand that you will need time to staff up, assess what has taken place, and finalize your approach towards FVT and GE,” the letter reads. “Time beyond July 2025 may well be needed in order to operationally process the data reporting, and we welcome continued conversation with you on this matter.”
Publication Date: 1/31/2025
Kerstin A | 2/3/2025 2:48:38 PM
Complete waste of financial aid administrators'' time. Our institution doesn't even participate in the Direct Loan program.
James C | 1/31/2025 11:2:36 AM
Jeffrey F is absolutely correct. the Department has all this data relating to enrollment, federal loan debt and CIP codes . The Department knows which schools have low loan repayment rates and high default rates and can even identify by CIP codes and school codes which loans are not being repaid. The only data they do not have is private loan data. Perhaps that should get reported to NSLDS? I think the solution however is stronger sanctions for schools with high default rates and stronger accreditation standards for school and programs. FVT is an extremely complicated and error ridden way of determining of a school is providing value for a student'slifetime earning potential.
Joshua M | 1/31/2025 11:2:06 AM
I'm hopeful it will be eliminated entirely. Its a waist of everyone's time.
Jeffery F | 1/31/2025 10:18:41 AM
I concur with the idea of moving away from the GE/FVT reporting by institutions.
The whole GE notion started several years ago in 2009 and the courts have vacated the process at least four times. Institutions report a lot of data now with NSC, COD, NSLDS and all of this combined with other data sources in the federal arena could get the data desired. Additionally, a lot of institutional resources go into the compilation and coordination of the reporting.
Bob H | 1/31/2025 9:44:16 AM
Rather than requesting a delay, why not request that these regulations be rolled back entirely (Federal Register / Vol. 88, No. 194 / Tuesday, October 10, 2023 / Rules and Regulations, 34 CFR Parts 600 and 668 Financial Value Transparency and Gainful Employment)? Not only are they confusing & onerous, but the information that they seek for the D/E & EP metrics is already available. Allow me to explain. The metrics concern Debt & Earnings. The salaries (i.e., Earnings) associated with various majors is common knowledge. The DOE already has student Debt information & the majors with which students graduate. The DOE should take both data points & create a general set metrics. This would make the entire FVT/GE framework unnecessary and support its complete elimination.
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