Background
Higher education institutions are entering a period of significant transition in federal accountability and reporting requirements.
Federal statutory changes enacted through the One Big Beautiful Bill Act (OBBBA) require a new program accountability framework. In response, the U.S. Department of Education (ED) has proposed moving from the current Financial Value Transparency and Gainful Employment (FVT/GE) framework to a new unified model—the Student Tuition and Transparency System (STATS). Following consensus reached through negotiated rulemaking in January 2026, implementation is anticipated beginning in 2027, with additional regulatory and operational details still to come.
At the same time, institutions must complete one final FVT/GE reporting cycle, which is scheduled to open July 1, 2026, with submissions due October 1, 2026.
This resource center is designed to support institutional research and data professionals through both phases:
- Completing final FVT/GE reporting requirements
- Preparing for the transition to STATS
- Understanding the broader evolution of federal accountability policy
Final FVT/GE Reporting (2026)
The 2026 reporting cycle is expected to be the final submission under the Financial Value Transparency and Gainful Employment (FVT/GE) framework before the anticipated transition to the Student Tuition and Transparency System (STATS) beginning in 2027.
Although this is the final FVT/GE cycle, expectations for data quality, completeness, and consistency remain important. Institutions should approach this reporting period with the same level of rigor as prior submissions, while also using it as an opportunity to review internal processes, data sources, and cross-campus coordination that may be relevant under future accountability frameworks.
Key Dates and Timeline
- July 1, 2026: FVT/GE data collection opens
- October 1, 2026: Final deadline for submission
What Must Be Reported
Institutions are expected to submit program-level data elements generally consistent with prior FVT/GE reporting cycles. Depending on program type and prior reporting requirements, submissions may include:
- Student enrollment and completion data
- Program-level cost and tuition information
- Financial aid and debt-related metrics
- Earnings-related data (as defined through federal sources and calculations)
Because this is the final FVT/GE reporting year:
- No major structural changes to reporting elements are currently anticipated
- Institutions should carefully review any updated guidance, technical specifications, or clarifications issued by the U.S. Department of Education (ED)
Documents and Publications
Resources from the U.S. Department of Education
Announcements
- (Issued on 7/9/2025) The U.S. Department of Education reminded schools that Financial Value Transparency and Gainful Employment (FVT/GE) data reporting for the 2025 cycle began on July 1, 2025, and runs through October 1, 2025. The most recently completed award year for the 2025 reporting period is the 2024–25 award year, which ended on June 30, 2025. Announcement GE-25-03 for details.
- (Issued on 2/14/2025) The U.S. Department of Education extended the deadline for evaluating Completers’ Lists and reporting data associated with Financial Value Transparency and Gainful Employment (FVT/GE) until September 30, 2025. Announcement GE-25-02 for details.
Links
- Federal Student Aid’s (FSA) Knowledge Center includes the following FVT/GE resources
- NSLDS Financial Value Transparency and Gainful Employment (FVT/GE) User Guide
- FVT/GE Topics page lists the federal register notices, dear colleague letters, electronic announcements, and frequently asked questions.
- Frequently Asked Questions
- Email for questions: GE24@ed.gov
- Subscribe for daily or weekly updates at: https://fsapartners.ed.gov/subscriptions
AIR Data & Decisions Consulting Support
AIR Data & Decisions Consulting can help institutions navigate complex reporting requirements with clarity and confidence. Reach out to begin the conversation today.
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AIR Advocacy and News
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Financial Value Transparency and Gainful Employment Reporting Requirements Deadline Extended to October 1, 2024
The U.S. Department of Education (ED) announced March 29, 2024, that institutions will have until October 1, 2024, to provide all Financial Value Transparency (FVT) and Gainful Employment (GE) reporting require...Read Moreabout: Financial Value Transparency and Gainful Employment Reporting Requirements Deadline Extended to October 1, 2024 -
Institutional Research Community Calls for Delay in Reporting Requirements Implementation to U.S. Department of Education
The institutional research and institutional effectiveness (IR/IE) community has united to advocate for a delay in implementing the reporting requirements related to the Financial Value Transparency (FVT) and Gainful Emp...Read Moreabout: Institutional Research Community Calls for Delay in Reporting Requirements Implementation to U.S. Department of Education