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What Now? Examining the Regulatory Landscape After Gainful Employment Rule Scrapped

By Michael T. Wherry, Director, Audit Department, McClintock & Associates
No matter what the future holds, the one certainty is the regulatory landscape among for-profit and non-profit institutions will not remain the same. Vigilant monitoring and regular consultation with experts are a must, especially among smaller institutions that may not have the resources to fully address financial and regulatory reporting.

Making Sense of ED’s State Authorization Rule

Making Sense of ED’s State Authorization Rule

By Aaron Lacey, Partner and Leader, Higher Education Practice and Katie Wendel, Counsel, Higher Education Practice, Thompson Coburn LLP
For nearly a decade, the U.S. Department of Education has worked to formulate a lasting “State Authorization Rule.” Most recently, an interpretation of the rule threatened to render online students in California ineligible for federal financial aid. This article considers the current status of the Rule, discusses the drama in California, and offers thoughts for coming into compliance.

What Now? Examining the Regulatory Landscape After Gainful Employment Rule Scrapped

Mergers and Acquisitions in Higher Education: Considering the Letter of Intent

By Emily Murphy, Aaron Lacey, and Katie Wendel, Thompson Coburn LLP
In recent years, there has been a significant uptick in merger and acquisition activity involving institutions of higher education, and many familiar with the sector expect this trend to continue. This article discusses mergers and acquisitions in the higher education space and focuses on preparing the letter of intent.

What Now? Examining the Regulatory Landscape After Gainful Employment Rule Scrapped

California Consumer Privacy Act of 2018: Considerations for Higher Education Institutions

By Michelle Donovan, Partner and Diane Byun, Diversity Fellow, Duane Morris LLP
On June 28, 2018, California passed the California Consumer Privacy Act (CCPA), establishing the strictest data privacy law in the United States. The CCPA’s scope is not limited to entities within California. Compliance obligations will be imposed on any business that collects personal information about California residents and meets one of the CCPA thresholds, regardless of where the business is located. Higher education institutions covered by the new law must adopt new policies and procedures relating to the collection, use, and sharing of consumers’ personal information.

What Now? Examining the Regulatory Landscape After Gainful Employment Rule Scrapped

General Data Protection Regulation (GDPR) and Career Education

By Michelle Donovan, Partner and Diane Byun, Diversity Fellow, Duane Morris LLP
In a world of daily digital interactions, the General Data Protection Regulation (GDPR) offers individuals in the European Union (EU) more control on the collection, disclosure, and use of their personal data, both within and beyond EU borders. Any career education institution in the United States (US) that processes or collects personal data relating to covered individuals may be subject to GDPR compliance, regardless of physical EU presence.

What Now? Examining the Regulatory Landscape After Gainful Employment Rule Scrapped

Preparing for the Department’s New State Authorization Rule

By Aaron Lacey, Partner, Thompson Coburn’s Higher Education practice and Editorial Director, REGucation, the firm’s higher education blog
As institutions with online programming are well aware, the U.S. Department of Education’s new “state authorization” rule is set to become effective this coming July 1, 2018. This article discusses the new authorization and disclosure requirements set forth in the rule.

What Now? Examining the Regulatory Landscape After Gainful Employment Rule Scrapped

ACICS Recognition Review Continues to be a Dynamic Process

By Jay Vaughan, Partner and Chair of Education Practice Group, and Naomi Harralson May, Associate, Cooley LLP
While ACICS prepares an updated submission for consideration by a Senior Department Official, who is expected to make a determination by the end of July, other federal and state agencies are once again considering ACICS to be a federally recognized accrediting agency and reviewing the impact on status on a case-by-case basis.

What Now? Examining the Regulatory Landscape After Gainful Employment Rule Scrapped

Hidden Requirements for Calculating Graduate Employment

By Bryan M. Westhoff, Shareholder, Polsinelli PC
How do state and federal prosecutors use consent orders to enforce new rules for the way that propriety schools calculate their graduate employment rates? In the absence of any uniform rules for calculating graduate employment rates, many state and federal prosecutors have adopted their own views about which students schools can count as “employed.”

What Now? Examining the Regulatory Landscape After Gainful Employment Rule Scrapped

Knowing Your Responsibility as a Plan Sponsor

By Robert J. Behr, CPA, Senior Manager, McClintock & Associates, PC
There are many responsibilities that a plan sponsor has in order to keep the school’s retirement plan in compliance with the Department of Labor’s rules and regulations. Not only does a plan sponsor need to be familiar with the plan document and manage third-party service providers, the plan sponsor must also communicate with payroll and human resources departments and perform internal recordkeeping and review.

What Now? Examining the Regulatory Landscape After Gainful Employment Rule Scrapped