Posted: September 4, 2015
By: Colleen King, Executive Director, HEAG
With the recent regulations governing Gainful Employment (GE) reporting and disclosure requirements taking effect on July 31st, 2015, many schools thought to be in compliance are now being contacted by the Department of Education (as reported by NASFAA). Many of these Title IV schools were completely unaware that they had “GE-eligible” programs. The schools ended up on ED’s radar based on records submitted to the Common Origination and Disbursement (COD) system as compared with updates to the National Student Loan Database System (NSLDS). With the new CIP requirements, schools are required to report the program in which the student is enrolled in order to successfully process both the origination and disbursement of Federal Direct Loans. ED reviewed COD and zeroed in on private and public institutions with certificate programs and proprietary schools with any program. If those same schools did not report on those GE programs to NSLDS, then a letter was sent to them this first week of September.
If you received one of these letters OR may be you’re just uncertain of whether or not your school is in compliance, make sure to visit IFAP’s Gainful Employment Information Page, as well as, download the NSLDS GE User Guide. Additionally, HEAG has successfully assisted schools in complying with all new GE reporting and disclosure requirements. For more information, contact Colleen King, Executive Director at HEAG, today.