The U.S. Department of Education issued Electronic Announcement GE-25-02, extending the deadline for institutions to submit Completers’ Lists and debt reporting for Financial Value Transparency and Gainful Employment (FVT/GE) to September 30, 2025.
The U.S. Department of Education issued Electronic Announcement GE-25-02, extending the deadline for institutions to submit Completers’ Lists and debt reporting for Financial Value Transparency and Gainful Employment (FVT/GE) to September 30, 2025.
Key Highlights
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Extended Submission Window: Institutions that missed the original February 18, 2025 deadline have until September 30, 2025 to submit required data for Financial Value Transparency and Gainful Employment reporting.
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Opportunity for Corrections: Schools that have already submitted reports can make corrections or updates to their Financial Value Transparency and Gainful Employment submissions up until the new deadline.
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No Immediate Penalties:The Department confirmed that there will be no consequences or penalties for non-compliance with the earlier February deadline.
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Delayed Metric Publication: No Financial Value Transparency and Gainful Employment metrics will be published until after the new September 30, 2025 deadline.
Who Must Submit Financial Value Transparency and Gainful Employment Data?
The reporting requirements apply to:
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All Title IV-participating institutions (institutions that offer federal student aid programs) — including public, private nonprofit, and proprietary (for-profit) institutions.
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All eligible academic programs leading to a Title IV-recognized credential.
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Specifically, Gainful Employment programs include most non-degree programs at public and nonprofit institutions and virtually all programs at proprietary (for-profit) institutions.
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Examples include certificate programs, short-term training programs, and associate degrees offered at for-profit colleges.
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Institutions must submit:
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Completers’ Lists: Details about students who completed their programs within a specified timeframe.
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Debt and earnings data: Information about median loan debt and post-completion earnings of graduates, used to evaluate a program’s financial value.
Insights from Financial Aid Services (FAS)
In their article “FVT/GE: Where Do We Go from Here?”, Financial Aid Services (FAS) stresses that:
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The extension provides schools critical additional time to submit accurate and complete Financial Value Transparency and Gainful Employment data.
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Compliance is an ongoing process — not a one-time requirement — and institutions must build robust internal systems to maintain compliance.
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Schools should use this window to refine internal reporting processes, strengthen data collection and review, and prepare for future annual FVT/GE reporting cycles.
Who should Submit Data ?
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Type of Institution |
Programs Covered |
Notes |
|
Public Institutions (e.g., community colleges, state universities) |
Title IV-eligible non-degree programs |
Examples: certificate programs, short-term training programs |
|
Private Nonprofit Institutions |
Title IV-eligible non-degree programs |
Limited mostly to non-degree credentials |
|
Proprietary (For-Profit) Institutions |
All Title IV-eligible programs |
Virtually all programs, including associate, bachelor’s, |
What is Title IV?
Title IV refers to the section of the Higher Education Act of 1965 that authorizes federal student financial aid programs. These programs include:
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Pell Grants
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Federal Direct Loans (Subsidized, Unsubsidized, PLUS loans)
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Federal Work-Study
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Federal Supplemental Educational Opportunity Grants (FSEOG)
Title IV Institutions are obligated to submit Financial Value Transparency and Gainful Employment (FVT/GE) data for eligible programs to remain eligible.
What Must Be Submitted?
|
Submission Category |
Description |
|
Completers’ Lists |
Lists of students who completed each eligible program within a defined reporting window |
|
Debt Data |
Median loan debt incurred by students who completed the program |
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Earnings Data |
Post-completion earnings information to assess program value |
Key Reporting Deadlines (Updated)
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Original Deadline: February 18, 2025
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New Deadline: September 30, 2025
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Correction Window: Schools may make updates or corrections through September 30, 2025
Important Notes
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No Financial Value Transparency or Gainful Employment metrics will be published before September 30, 2025.
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Institutions that missed the February 18 deadline will not face penalties.
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Compliance is an annual expectation, not a one-time event.
Sources:
U.S. Department of Education Electronic Announcement GE-25-02; Financial Aid Services (2025).
U.S. Department of Education. (2024). Institutional eligibility. In 2024–2025 Federal Student Aid Handbook (Vol. 2, Ch. 1). FSA Partner Connect. https://fsapartners.ed.gov/knowledge-center/fsa-handbook/2024-2025/vol2/ch1-institutional-eligibility