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Gainful Employment Statute

Gainful Employment Statute. An educational program is Title IV eligible only if the program: Is offered by a public or non-profit institution and leads to a degree or transfer; or Is offered at any institution and “leads to gainful employment in a recognized occupation”.

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Gainful Employment Statute

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  1. Gainful Employment Statute • An educational program is Title IV eligible only if the program: • Is offered by a public or non-profit institution and leads to a degree or transfer; or • Is offered at any institution and “leads to gainful employment in a recognized occupation”. • Referred to as a Gainful Employment Program or a GE Program.

  2. Gainful Employment Programs • Public institutions and not-for-profit institutions – • All programs, except for – • Programs that lead to a degree; • Programs of at least two years in length that are fully transferable to a bachelor’s degree program; and • Preparatory course work necessary for enrollment in an eligible program.

  3. Required Disclosures – Consumer Info. • Disclose for each GE Program: • Occupations (by name and SOC code) that program prepares students to enter • Links to occupational profiles on O*NET • Program costs – for entire program in normal completion time • On-time completion rate • Median loan debt incurred by students who complete the program • Job placement rates – not required for CCCs at this time

  4. New GE Programs • Very involved process for new GE programs effective July 1, 2011 • Too involved and too much work for the federal government • Proposed regulations dated September 29, 2011, greatly simplifies process – however not effective until at least July 1, 2013

  5. Gainful Employment Reporting Requirements • Institution must annually report information on students who were enrolled in a GE program for each award year – • Student identifying information • Program identifying information • Enrollment information • Amounts from private education loans and institutional financing plans • By November 15, 2011 all colleges must report: • 2006-2007, 2007-2008, 2008-2009, 2009-2010, and 2010-11 award year information

  6. GE Measures and Penalties • Measures: • Annual Loan Repayment Rate • Discretionary Income Threshold • Actual Earnings Threshold • Penalties for failing to meet at least one measurement: • One or two years = additional disclosure requirements • Three out of four years = loss of federal aid eligibility for that program

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