History has an uncanny habit of repeating. When it seemed that the reporting of gainful employment (GE) data to
the U.S. Department of Education (ED) was just done – with expectations that everything got reported precisely. There we go again, discussing about GE again. Every information that you did your work on in the previous few months, since the first “new” GE reporting during July 2015 is coming into play again at present. And considering the present scenario, you should not let your guard down. In fact, it is an opportunity for you to make sure that you have held an upper hand in the upcoming requirements of GE.
The ED had declared regulations to safeguard students at colleges from getting burdened by student loan debts that they cannot repay. The regulations have been created to make sure that educational institutes improve their outcomes for students or they might face the risk of losing access to federal student aid. Under this regulations, there are career training programs that are responsible in putting the students on the track to success. Also, they complement action across the administration to safeguard consumers and investigate and prevent abuse and waste, fraud, especially at for-profit colleges.
The ED did a commendable job in writing a strong regulation that can overcome a court challenge. And on that note, the Department performed – as it successfully overcame legal challenges and issues that were put forward by both the New York based Association of Proprietary Colleges (APC) and the Association of Private Sector Colleges and Universities (APSCU). There have been many changes that favor the students in for-profit higher education industry as the result of the Department’s work on gainful employment. Expensive programs having poor outcomes are being removed by companies like Career Education Corporation. According to The Chronicle of Higher Education, other companies like ITT Educational Services have “increased their spending on scholarships, which have reduced debt levels for students.”
The rule is not perfect yet. As it only looks at the earnings of graduates, it holds harmless programs that have a higher rates of churn and non-completion. For example, a program which has a ratio of 99 percent of student drop out and are not able to repay their debts will not get sanctioned.
Join this webinar by expert speaker Yolanda R. Gallegos on the Final Gainful Employment Regulations and learn how you can do everything possible to prevent unfair gainful employment rates due to inaccurate data. You will also be provided with an overview of the gainful employment process while helping you identify every juncture where ED’s data can be challenged.
