On May 19, 2023, the U.S. Department of Education (ED) published in the Federal Register the official version of its latest notice of proposed rulemaking (NPRM), which reintroduces the “gainful employment” or “GE” framework. As discussed in our recent blog post, this proposed regulation, now officially titled the “Financial Value Transparency and Gainful Employment” rule, proposes to decide and disclose the “financial value” of every Title IV program at every Title IV-participating institution of higher education. And its consequences are significant. An institution would not be permitted to disburse Title IV funds to a student until the student acknowledges having reviewed the Department’s determination concerning the program’s value.
We strongly encourage institutional counsel, compliance officers, and federal financial aid professionals to communicate with campus leadership, professional colleagues, and appropriate trade organizations regarding this proposed rule, and to consider commenting.
Institutions interested in learning more about the proposed rule are invited to join us for a 90-minute webinar on June 6, 2023, from 2:00 PM to 3:30 PM Central Time, during which we will discuss the Department’s proposal in detail. This webinar, which will be led by Aaron Lacey, the Chair of Thompson Coburn’s Higher Education Practice, will pay particular attention to the expanded application of the rule to non-GE programs (degree programs offered by public and private non-profit institutions), including the proposed D/E rate and earnings premium calculations, the consequences of failure, and the associated data reporting requirements.
The live presentation of this webinar was approved for 1.5 hours of general CLE credit in California, Illinois, and Texas; 1.8 hours of general CLE credit in Missouri; and 1.5 hours of professional practice CLE credit in New York. Please visit the CLE Overview page to see how the CLE credit for this recorded webinar can be applied in CA, IL, MO, NY, & TX.
If you are interested in receiving CA, IL, MO, NY, or TX CLE credit for watching the recorded presentation, you must register for the program by clicking here. If you are not interested in receiving CLE credit, you can watch the presentation by clicking the play button on the video.
Participants will only be emailed a Certificate of Attendance if the webinar is viewed in its entirety. If you were unable to view the webinar in its entirety, please contact email@example.com to see if you are eligible to receive partial credit.
If you do not receive your Certificate of Completion, please e-mail firstname.lastname@example.org.
June 6, 2023
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