Deadline Extended for FVT/GE Reporting

The Department of Education reopened the Financial Value Transparency (FVT) and Gainful Employment (GE) reporting portal to allow institutions more time to submit the required debt reporting. The new reporting deadline is February 18, however, this extension does not apply to completers lists – only to the debt reports. The completers lists have already been sent to the Internal Revenue Service as part of the median earnings calculation process.

The announcement also included a list of the most common errors found in the process and explanations on how to resolve them. These errors include both file level errors, which cause the entire file to not be processed, and student- and program-level errors, which cause individual records to not be processed.

Only institutions that do not complete their debt reports by the February 18 deadline will be required to submit a non-compliance explanation to the Department. More information about this process will be provided in a future announcement.

It is unclear what changes the Trump Administration may make to these regulations. NAICU will be urging the administration to re-examine the entire reporting framework, ensuring it is streamlined, clearly defined, and supportive of institutions' ability to provide accurate and meaningful data, including the time needed to make accurate reports.

For more information, please contact:
Justin Monk