"Colleges and universities got a three-and-a-half month extension from the looming gainful employment and financial value transparency reporting requirements, the U.S. Department of Education has announced," University Business reports.

... "The rules, which would’ve gone into effect on Oct. 1, are now delayed until Jan. 15. There were resounding calls, coming from members of Congress and higher ed associations, to delay the regulations to ease the burden on financial aid offices that are still grappling with FAFSA disruptions."

"But not all issues have been resolved, warns NASFAA, the association of financial aid officers, which has asked the Department of Education to delay the gainful employment and financial value regulations until July 2025. 'Significant challenges remain for institutions, particularly related to the key Department-generated reports that schools rely on to submit their own data,' the organization said in a statement."

"'We acknowledge the Department’s stated goal to produce the first complete set of results under FVT/GE in time to inform college decisions for the next award year,' NASFAA Interim President & CEO Beth Maglione said. 'While NASFAA supports students making well-informed enrollment decisions, rushing the process will lead to inaccurate and incomplete information.'"

"NASFAA also noted the financial aid offices will face another round of FASFAA delays during the Department of Education’s 'beta launch' of the 2025-26 applications."

NASFAA's "Notable Headlines" section highlights media coverage of financial aid to help members stay up to date with the latest news. Articles included under the notable headlines section are not written by NASFAA, but rather by external sources. Inclusion in Today's News does not imply endorsement of the material or guarantee the accuracy of information presented.

Publication Date: 9/16/2024