Just days after the Department of Education released Gainful Employment Informational Debt Measures and Gainful Employment Informational Loan Medians to institutions, GE is Dead!
On Saturday, United States District Judge Rudolph Contreras struck down Gainful Employment rules in a suit that the Association of Private Colleges and Universities brought against the Department of Education and Secretary Arne Duncan to challenge Gainful Employment rules.
Check out the full text of the legal decision here:
On April 20, 2011, the Department published Dear Colleague Letter (DCL GEN-11-10), that provided guidance on the implementation of the new GE regulations, including the requirement that institutions report information for all of its students who were enrolled in a Title IV-eligible gainful employment program (GE Program). The information in this newsletter supplements the revised NSLDS Gainful Employment User Guide posted on the Information for Financial Aid Professionals (IFAP) Web site on September 22, 2011, that describes the process that institutions will use to report their GE Program information.
Under the GE regulations, institutions must report on an Award Year basis. Initial reporting includes Award Years 2006-2007, 2007-2008, 2008-2009, 2009-2010, and 2010-2011. The Department provided guidance that it will accept these initial reports through November 15, 2011. However, we recommend that institutions submit their reports prior to that date so that any needed corrections can be submitted by November 15. Are you ready?
The 2011 Federal Student Aid (FSA) Fall Conference will be held at the MGM Grand Conference Center in Las Vegas, NV. It runs from November 29 through December 4, 2011.
This year’s agenda is packed full of useful sessions like Reporting Gainful Employment to NSLDS, Consumer Information Disclosures, Adding a new program, verification procedures for the 2012-2013 award year, and all sorts of sessions on cash management, COD and reconciliations processes.
Conference materials (PowerPoints etc.) are posted to the website for those who register and these can be valuable reference materials when you return to the office. My advice – plan to be in Las Vegas this year. And if you can’t go, register anyway to take advantage of the session materials once they are posted to the site.