FOR IMMEDIATE RELEASE
Contact: Hugh Ferguson
Managing Editor, NASFAA
[email protected]

WASHINGTON, D.C., SEPTEMBER 10, 2024 — A bipartisan group of senators on Tuesday sent a letter to the Department of Education (ED) calling for a delay of the institutional reporting deadline for gainful employment (GE) and financial value transparency (FVT) regulations until July 2025. 

In response to this news, NASFAA Interim President & CEO Beth Maglione released the following statement:

"NASFAA is heartened to see growing, bipartisan support for the Department of Education to delay the looming reporting requirement deadline for its gainful employment (GE) and financial value transparency (FVT) regulations from October 1, 2024  to July 2025. For nine months, NASFAA has repeatedly urged the Department to delay the deadline to alleviate some of the administrative burden on overworked and understaffed financial aid offices as they assist students through the aid application process — burden which is largely a result of the Department’s own missteps over the past year.

The Department’s refusal to delay this reporting deadline will place even more strain on financial aid offices that are still grappling with the failures of the 2024-25 FAFSA rollout. There is significant and growing doubt within the higher education community about whether the reporting mechanisms will even be operational by October 1, given recent issues that surfaced when the Department instructed schools to refrain from using the very reports they need to submit accurate GE and FVT data.

A delay would give institutions more time to complete the reporting and provide students and families with the most accurate information. Postponing the deadline, ideally to July 2025, would allow financial aid administrators to focus on supporting students through the new financial aid cycle as they navigate another delayed launch this year."

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About NASFAA

The National Association of Student Financial Aid Administrators (NASFAA) is a nonprofit membership organization that represents more than 29,000 financial aid professionals at approximately 3,000 colleges, universities, and career schools across the country. NASFAA member institutions serve nine out of every 10 undergraduates in the U.S. Based in Washington, D.C., NASFAA is the only national association with a primary focus on student aid legislation, regulatory analysis, and training for financial aid administrators.