Did You Know?
The U.S. Department of Education (ED) has released the “GE Debt Measures Backup Data” detail files via the National Student Loan Data System (NSLDS). The detail files were distributed through institutions’ Student Aid Internet Gateway (SAIG) mailboxes during the evening of October 19, 2016. The files contain the draft Gainful Employment (GE) Debt-to-Earnings (D/E) rates for each GE program at the school, as well as the data used to calculate the rates.
Several Electronic Announcements (EAs) have been distributed by ED recently which institutions should carefully review as they address several key points related to challenging the draft D/E rates, as well as information pertaining to the 45-day deadline for submitting any challenges, in addition to registration information for signing up to attend the two remaining Webinars on how to read your GE D/E rates files, along with a Webinar on how to submit challenges to the GE D/E draft rates.
ED also recently released the Gainful Employment SSA Earnings Data Report via the SAIG. It was designated as a GESSFWOP message class. See the GE EA #91 (link provided below) for more information on this data.
Institutions should be aware of the information in these recent Electronic Announcements (EAs) and Dear Colleague Letter (DCL) and plan accordingly:
DCL: (dated September 26, 2016) ANN-16-14, https://ifap.ed.gov/dpcletters/ANN1614.html, contains information about the two timely Webinars. There are two still remaining that are open for next week.
GE EA #93 (dated October 20, 2016) – Draft GE Debt-to-Earnings (D/E) Rates and Viewer Tool Now Available
GE EA #92 (dated October 13, 2016) – Upcoming Distribution of Draft GE Debt-to-Earnings (D/E) Rates
GE EA #91 (dated October 7, 2016) – Upcoming Release of SSA Earnings Data
Our recommendation is that all institutions have the appropriate individual for their school (at least one or more), register for and attend both of the Webinars to be held this coming week on October 25 and 27, 2016, if you have not already attended the ones held this week.
This material is presented for informational and educational purposes only and should not be considered to be giving legal advice.