A First-Professional Degree is the first degree that signifies both completion of the academic requirements for beginning practice in a given profession and a level of professional skill beyond that normally required for a bachelor’s degree. Only Title IV-eligible programs and, in some cases, previously-eligible programs are subject to the statutory and regulatory FVT/GE requirements. Note that the termination of a GE program is considered a past performance violation under 34 CFR 668.74(a)(1) and results in an institution being treated as not financially responsible.

• After your institution selects your cohort type (Standard or Transitional), our system will generate your cohort, separated by award year, for the applicable cohort period with enrollment information previously reported by your institution to Clearinghouse, using NSLDS’s prescribed logic.
• Programs that are not designed solely for transfer purposes and that lead to a recognized nondegree credential (usually a certificate or diploma) awarded by the institution are not included in the above exception.
• These regulations, in part, establish an annually-calculated EP measure, which compares the median annual earnings of students completing an educational program at an eligible institution to a specified earnings threshold.
• The Clearinghouse can identify students who would otherwise be missing from your cohort and completers record, and we will prefill some of your FVT/GE report data, which saves you time and effort.
• The report is available in both file types of Commas Separated Values (CSV) and Fixed-Width (FW) file formats.
• It requires all colleges to provide student and financial information about their programs to the Education Department.

What is an eligible program?

• If you participate in Clearinghouse FVT/GE, an automated email will be sent to users at your institution with the FVT/GE Financial Aid Officer or FVT/GE Financial Aid Viewer role notifying them that your Completers List is available for review.
• Education Department’s new financial value transparency and gainful-employment rule, which was finalized Wednesday and defines what it means to prepare graduates for gainful employment.
• ED stated that it estimates the quantified annualized economic and net budget impacts of this final rule to be in excess of $200 million.
• The Department understands institutions may desire additional flexibility beyond the already twice-moved deadline for reporting the required FVT/GE data.
• Any remaining updates (e.g., unworked cost errors) will remain on the student record until a user makes the necessary update to correct the error and submit it for validation.
• Institutions do not need the final version of the Completers Lists to complete this reporting.
• If neither your institutional accrediting agency nor a programmatic accrediting agency requires data for students who take and/or pass a licensure exam, you should leave a space in the relevant fields.

Schools do not need to finish their Completers List review before completing their required reporting, or vice versa. Because the Department has extended the deadline for institutions to evaluate their Completers Lists until September 30, 2025, those lists will be reverted to draft status in NSLDS by Monday, February 17, 2025. Effective July 1, 2024, institutions of higher education participating in Title IV Federal Student Aid programs must comply with the U.S. Department of Education’s (Department) Financial Value Transparency and Gainful Employment regulation (Final Rule). The new reporting requirements will take effect next July along with the overall gainful-employment rule. The Department suggests in its filing of last Friday that the federal deficit and student loan debt are at the heart of its new position.

New and Updated Financial Value Transparency and Gainful Employment FAQs Now Available

If you are interested in learning more about this topic, we invite you to spend your Valentine’s Day lunch with members of our Title IV compliance team to learn about practical ways to prepare for the new Financial Value Transparency and Gainful Employment regulations. U.S. representative Online Bookkeeping Virginia Foxx of North Carolina, who chairs the House Education and Workforce Committee, blasted the rule in a statement. It should be noted that the Department’s brief was a reply brief, and it is settled law in the Fifth Circuit and elsewhere that new arguments raised in a reply brief for the first time are waived. Requirements for acknowledgements and warnings, and the establishment of the Department’s disclosure website, are effective July 1, 2026.

G-Q13 How do I know if a program at my school is a Qualifying Graduate Program? (Added July 19,

This page provides the most updated information pertaining to the Financial Value Transparency and Gainful Employment (FVT/GE) Final Regulations which were published October 10, 2023. These regulations aim to bring back accountability metrics with changes that are intended to make available data more meaningful to students and to the general public. We are pleased to provide the NSLDS what is financial transparency Financial Value Transparency and Gainful Employment (FVT/GE) User Guide. This reference provides instructions and guidance for complying with the FVT/GE reporting requirements via the National Student Loan Data System (NSLDS®). “We will have an opportunity for a limited number of schools to report their information and get their results on a faster timeline,” Kvaal said, adding that the agency would have more information about this effort soon. In its Friday announcement, the Education Department noted that some colleges may want to report their information sooner, and said the agency would allow some institutions to opt into doing so this fall.

Financial Value Transparency and Gainful Employment (FVT/GE)

In addition to establishing these new metrics and a website to house this information for the public, the Final Rule establishes “passing” thresholds. Your institution will validate the cohort file and add data on financial aid and institutional costs (active students’ annual cost of attendance and graduates’ total costs of attendance). After completing these additions, your institution will return the file to the Clearinghouse for review. The FVT/GE regulations define “institutional grants and scholarships” in CARES Act 34 CFR 668.2 as “assistance that the institution or its affiliate controls or directs to reduce or offset the original amount of a student’s institutional costs and that does not have to be repaid. Typically, an institutional grant or scholarship includes a grant, scholarship, fellowship, discount, or fee waiver” that is included in a student’s financial aid package as estimated financial assistance. If there are more completers who obtain licensure in a State where the postgraduation training requirements apply and all other conditions are met, the program would be considered a Qualifying Graduate Program.