The U.S. Education Department (ED) is extending the deadline for Gainful Employment/Financial Value Transparency (GE/FVT) reporting to September 30. Colleges also have until September 30 to review and submit corrections to Completers’ Lists, according to ED.
Colleges were required to report both their GE/FVT data and edits to the Completers’ Lists by January 15. However, many institutions reported difficulty meeting that deadline, citing challenges collecting and ensuring data accuracy within the tight reporting timeline, delayed reporting guidance from ED and revisions to the guidance into late December, challenges coordinating with student information software vendors assisting with reporting, and the reporting system itself being overwhelmed as colleges rushed to report. As a result, many colleges couldn’t submit their data or only submitted partial data.
Recognizing these challenges, ED reopened the reporting mechanism within the National Student Loan Data System so institutions could submit their debt reporting, initially giving colleges a new deadline of February 18. ED’s announcement last week gives colleges seven more months to ensure the accuracy and completeness of their debt data and gives colleges an additional opportunity to make changes to the Completers’ Lists.
ED also clarified that it will not generate any GE/FVT metrics prior to September, and that there will be no punitive measures against colleges that didn’t fully meet prior deadlines.
