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Regulatory Update: FVT/GE Reporting Guidance

Regulatory Update: FVT/GE Reporting Guidance

Why This Matters

The Department of Education’s publication of the User Guide is intended to help institutions comply with the October 1, 2024 FVT/GE reporting deadlines. This reporting requirement pertains to all AACS member institutions. The required data must be reported by submitting files to NSLDS via the Student Aid Information Gateway or through the online process.

What You Should Know

The Department of Education recently published the NSLDS Financial Value Transparency and Gainful Employment (FVT/GE) User Guide, which provides instructions and guidance for complying with the FVT/GE reporting requirements via the National Student Loan Data System (NSLDS®). The Department is hosting a webinar today, May 1, 2024, between 1:00-2:00 p.m. to provide additional guidance on the NSLDS reports. As a reminder, the reporting deadlines for FVT/GE have been extended to October 1, 2024. For FVT/GE purposes, an institution must annually report student-specific data and program-specific data to NSLDS. In its announcement, the Department indicated that it will publish additional individual volumes of the User Guide covering a range of topics, including: reporting methods (batch, web, spreadsheet submittal), reporting content, the FVT/GE Completers List, the FVT/GE calculations, and other relevant topics.

Of particular note, Section 1.8 of the User Guide references the FVT/GE Debt-to-Earnings Rate and Earnings Premium Measurement reporting requirements. The User Guide states that “[s]chools will be provided information on the FVT/GE debt measures process, how the debt measures backup data is distributed, how to utilize the NSLDS Professional Access website to review the rates for each program, how to review backup data for each program, and how to use reports to assist in the review process.” The Earnings Premium will be calculated by comparing each program’s median annual earnings – from the IRS – against the earnings threshold that was determined for that program.

Additionally, AACS will be holding a webinar in June to provide further reporting guidance. Please keep an eye out for more information on this upcoming webinar.

For more information:

Electronic Announcement

NSLDS FVT/GE User Guide Introduction

NSLDS Reporting Webinar

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Another four states – Arizona, Delaware, New Hampshire and Rhode Island – will be adjourning their respective 2024 legislative sessions at the end of the month.

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