Higher Education Associations Call for Extension of Financial Value Transparency and Gainful Employment Reporting Deadline

On December 13, 2024, several higher education associations sent a letter urging U.S. Secretary of Education Miguel Cardona to extend the January 15, 2025, deadline for financial value transparency (FVT) and gainful employment (GE) reporting to July 2025. The request was supported by findings from a recent American Council on Education (ACE) survey of 355 college and university presidents representing diverse public and private nonprofit institutions.

The survey revealed widespread uncertainty and significant challenges in meeting the current deadline. Notable findings include:

Lack of clarity: 54% of respondents found the Department of Education’s sub-regulatory guidance only somewhat clear or were neutral, while 40% found it unclear.
Completer list issues: 82% of institutions indicated they could not finalize their completer lists within the required five-day period, especially as the Department allows corrections until January 15, only days before a potential new administration takes office.
Resource constraints: 73% of respondents said additional resources were needed to comply, with 37% expressing significant need.
Delayed determination notices: 79% expected it would take over 30 days to receive official determinations.

Critically, 87% of surveyed leaders supported delaying the deadline to July 2025 to address these challenges effectively.

The letter emphasized that an extension would allow institutions more time to comply with the regulations and adapt to possible administrative changes. It concluded with a plea for the Department to consider these concerns and prioritize institutional preparedness.