Is a Kinder, Gentler Gainful Employment Reg in the Works While ED Announces Steps to Publish New Rates? – Cooley
Keeping up with the GE Rule has been a full time job in recent months, including new Department of Education actions to prepare a second set of GE rates, negotiated rulemaking to write a new rule, a lawsuit against the department for not implementing the current rule and proposed legislation in Congress.
Keeping up with the Gainful Employment Rule has been a full time job in recent months. Between new Department of Education actions to prepare a second set of GE rates, negotiated rulemaking to write a new rule, a lawsuit against the department for not implementing the current rule and proposed legislation in Congress – it is hard to keep track of it all. And for now, like those of us watching this unfold like episodes of Stranger Things, you may also be wondering what it all means.
New ED Announcement Signals Steps to Publish Second Set of Rates
ED has now announced that it plans to release the draft “completers lists” later this spring in preparation for the second round of GE rates. The first set of rates was issued in January 2017, and there has been considerable speculation as to if and when ED would issue the second round of rates. Under the existing rule, this second round of rates could result in the loss of eligibility for any program that failed in the first and second years. This announcement also encouraged institutions to review and correct the data they reported for the 2011/2012 and 2012/2013 award years (and as far back as 2009 if the cohort is less than 30) before March 30.