What is coming around the corner for compliance?
The compliance corner can help your office stay in the loop of important information and deadlines to proactively maintain compliance.
The Gainful Employment regulation has returned in full force. It is a mandate not just for for-profit schools but also for non-profit and public institutions. Although some parts of it are still in the comments period of negotiated rule-making, schools should start gathering data as soon as possible.
Why? Three reasons:
- The dates are not changing. The comments period is for clarification of the data collection.
- The initial reporting period requires that data for award years prior to 2023-2024 be reported by July 31, 2024.
- Annual reporting requires us to report data from the 2023-2024 award year by October 1, 2024.
This data gathering will require the institutional research department (if you have one), the registrar, finance, financial aid and other departments that maintain student data to work together.
Don't get caught off guard. Start having conversations now and building a team for this project. This spring, NSLDS is sending out reports containing student data, which can help identify the programs and students we need to report on in July. We will also receive a completer's list from the U.S. Department of Education (ED) in July.
The Association for Institutional Research held two very informative webinars recently on Gainful Employment. Get your team together and be ready!
