FACTS Newsroom
Extension deadline to sign up to receive Fiscal Year 2011 GE Informational Rates, GE Letter, and GE Notification Packages.
Later today or tomorrow the U.S. Department of Education will announce an extension to May 25, 2012 of the original April 27, 2012 deadline for institution subject to the Gainful Employment regulations to sign up to receive their Fiscal Year 2011 GE Informational Rates, GE Letter, and GE Notification Packages.
ALL INSTITUTIONS WHO HAVE NOT ALREADY DONE SO ARE STRONGLY ENCOURAGED TO:
- Review the March 21, 2012 Gainful Employment Electronic Announcement #33 - Upcoming Release of Gainful Employment Informational Rates and Related NSLDS Enhancements Planned for Spring 2012: http://www.ifap.ed.gov/eannouncements/032112GEEA33.html
- Follow the instructions provided for each institution's Primary Destination Point Administrator (PDPA) to log on to the Student Aid Internet Gateway (SAIG) Enrollment Website https://fsawebenroll.ed.gov/PMEnroll/index.jsp ; and
- Select Primary Destination Point Administrator Access from the home page, enter his or her identifying information to log in, and select Manage Your SAIG Mailboxes from the Primary Destination Point Administrator Management page.
Once there, the PDPA must sign up to receive the NSLDS Gainful Employment (GE) Notification and designate an institutional SAIG Mailbox (TG number) to which the GE notification package will be sent. The institution may create a separate SAIG mailbox for this purpose or it may use any of its existing SAIG mailboxes including the one used to submit GE data. However the SAIG Mailbox must be associated with the Main Campus (‘00’ branch code of the six-digit OPE-ID).
Key Department officials have indicated that this will be the last opportunity for institutions to sign up to receive the full, comprehensive package of information, and hope that the extension of the deadline will ensure that as many of the institutions of higher education subject to the regulations (for-profit, community colleges, public and private non-profits) are prepared to receive the data once the Department releases it. Note, the extension of the deadline makes it clear that the Department will not be releasing the information to institutions before May 25, 2012 at the earliest. This suggests that, per repeated Department of Education official's comments that the week of May 28 – following the observance of Memorial Day – is the earliest schools can expect to receive their FY11 GE Informational Rates.
IN THE INTERIM, ALL INSTITUTIONS WHO HAVE NOT ALREADY DONE SO, SHOULD:
- Sign up for tomorrow's 1:00 PM, EDT U.S. Department of Education "Gainful Employment: How to Read Your GE Back-Up Detail Report" Webinar http://www.ifap.ed.gov/dpcletters/ANN1210.html; and
- Review the recently posted Gainful Employment Operations Manual in preparation for the webinar http://ifap.ed.gov/ifap/GainfulEmploymentOperationsManual.jsp.
As noted in the announcement and confirmation information, the webinar will discuss how institutions can view and understand the new NSLDS Gainful Employment Backup Detail Report (GEDR) that will be provided along with the 2011 GE Informational Rates. We will also review the components of the GE rate notification package, how to request GE back-up detail files, and how these files are organized.
The Department notes, "The Gainful Employment Operations Manual should be reviewed prior to attending the webinar, as it contains important information which will complement the webinar presentation. In particular, participants should refer to the "Publication and Access to Gainful Employment Debt Measures and Loan Medians for Disclosures" section of the manual. The webinar will focus on the information provided in this section and an understanding of the section’s content will assist schools with viewing rates online, receiving GE back-up detail files, and understanding the technical aspects of receiving GE rates."
Low student loan interest rates in limbo after Democrats' bill stalls in Senate
Published By: The Hill
Published Date: May 08, 2012
Authors: Daniel Strauss and Alexander Bolton
Link
"Executive Order Principles of Excellence" Signed by President Obama.
Published By: The White House
Published Date: May 03, 2012
Author: Office of the Press Secretary
Link
Talking Points for Schools with their Legislators
Published By: American Association of Cosmetology Schools
Published Date: May 03, 2012
Author: American Association of Cosmetology Schools
Link
ACT College closes three Virginia campuses
Published By: ABC 7 News, Alington, VA (Allbritton Communications Company)
Published Date: April 03, 2012
Author: By Tom Roussey, Stephen Tschida
House and Senate Leaders Seek Oversight on Direct Loan Program
Published By: Education & The Workforce Committee
Published Date: March 27, 2012
Author: Congressman John Kline Press Office
Link
The Untold Economic Debate Of Financial Aid
Published By: Neon Tommy
Published Date: March 19, 2012
Author: Asher Feldman
Link
Reed, Courtney Continue Push to Prevent Rate Increase on Student Loan
Published By: United States Congress News Release
Published Date: March 13, 2012
Contact: Chip Unruh (Reed) and Jake Zembik (Courtney)
Link
NJ Rep. Donald Payne Dead at 77
Published By: NBCNewYork
Published Date: March 06, 2012
Author: Brian Thompson and Beth DeFalco
Link
Consumer Bureau Opens Student Loan Complaint Line
Published By: The Hill
Published Date: March 05, 2012
Author: Peter Schroeder
Link
Our Student Loan Complaint System is Open for Business
Published By: Consumer Financial Protection Bureau
Published Date: March 05, 2012
Author: Rohit Chopra
Link
College Completion Microsite
Published By: The Chronicles of Higher Education
Editor: Jeffrey J. Selingo
Link
American Council on Education - Letter to Representatives Regarding H.R. 2117
Published By: American Council on Education
Published Date: February 27, 2012
Author: Molly Corbett Broad
Link
Price Controls: Obama’s Higher-Education Agenda, Part 2 of 8
Published By: The Chronicle of Higher Education
Published Date: February 23, 2012
Author: Peter Wood
Link
Latest Video and Accompanying Document Summarizing the Second Session of Federal Negotiated Rulemaking
The Government Relations Team Leader with the American Association of Cosmetology Schools (AACS) Anthony Fragomeni and AACS Lobbyist Tom Netting share their latest video and accompanying document summarizing the second session of Federal Negotiated Rulemaking
Published By: American Association of Cosmetology Schools
Published Date: February 17, 2012
Author: Anthony Fragomeni and Tom Netting
Supersizing: Obama’s Higher-Education Agenda, Part 1 of 8
Published By: The Chronicle of Higher Education
Published Date: February 15, 2012
Author: Peter Wood
Link
FACT SHEET: A Blueprint to Train Two Million Workers for
High-Demand Industries through a Community College to Career Fund
Published By: The White House
Published Date: February 13, 2012
Author: Office of the Press Secretary
Link
Obama Visits Northern Virginia Community College To Promote Job Training
Published By: The Huffington Post
Published Date: February 13, 2012
Author: Kimberly Hefling
Link
Title IV Student Financial Assistance Disbursed to Students Without a Valid High School Diploma
Published By: Information for Financial Aid Professionals
(IFAP)
Published Date: February 09, 2012
Author: Eduardo M. Ochoa, Assistant Secretary, Office of Postsecondary Education
Link
ANN-12-03: Live Internet Webinar - Calculation of Gainful Employment Debt Measures and Implications for Institutions
Published By: Information for Financial Aid Professionals
(IFAP)
Published Date: February 08, 2012
Presented by: Department of Education
Link
for More Information
Survey: 4 Out of 5 U.S. Bankruptcy Attorneys Report Major Jump In Student Loan Debtors Seeking Help, Fears Grow Of Next Mortgage-Style Debt Threats To U.S.
Published By: National Association of Consumer Bankruptcy
Attorneys (NACBA)
Published Date: February 07, 2012
Media Contact: Aaron Wolf
Link
Obama’s Higher-Education Agenda
Published By: The Chronicle of Higher Education
Published Date: February 07, 2012
Author: Peter Wood
Link
White House Proposed College Scorecard - Public feedback requested
Published By: The White House
Published Date: February 02, 2012
Author: The White House
Link
S. 2051 (To amend the Higher Education Act of 1965 to extend the reduced interest rate for Federal Direct Stafford Loans.)
Published By: U.S. Government Printing Office
Published Date: January 31, 2012
Session: 112th Congress 2nd Session
Link
Cosmetologists cheer decision to keep licensing rules
Published By: Post Tribune
Published Date: January 29, 2012
Author: Michelle L. Quinn
Link
Obama 'putting colleges on notice' on high tuition
Published By: Excite.com
Published Date: January 27, 2012
Author: Jim Kuhnhenn and Kimberly Hefling
Link
NBCC to Department of Education: “We Told You So”
Published By: National Black Chamber of Commerce
Published Date: January 26, 2012
Author: (NBCC) National Black Chamber of Commerce
Link
H.R. 3826 (To amend the Higher Education Act of 1965 to extend the reduced interest rate for Federal Direct Stafford Loans.)
Published By: U.S. Government Printing Office
Published Date: January 25, 2012
Session: 112th Congress 2nd Session
Link
Senator Targets For-Profit Colleges' Reliance on Federal Money and Aggressive Recruiting of Veterans
Published By: The Chronicle of Higher Education
Published Date: January 23, 2012
Author: Goldie Blumenstyk
Link
Changes Made to The Title IV Student Aid Programs By The Recently Enacted Consolidated Appropriations Act, 2012.
Published By: United States Department of Education,
Office of Postsecondary Education
Published Date: January 18, 2012
Author: Eduardo M. Ochoa
Link
Citing Institutions for Late Annual Audit Submissions
Published By: Information for Financial Aid Professionals
(IFAP)
Published Date: January 17, 2012
Author: Robin Minor, Chief Compliance Officer, Federal Student Aid
Link
Dems Target For-Profit Colleges, May Enrich Crony Wall Street Traders
Published By: BigGovernment
Published Date: December 27, 2011
Author: Capitol Confidential
Link
Mismatch on Loan Negotiations?
Published By: Inside Higher Ed
Published Date: December 23, 2011
Author: Doug Lederman
Link
Department's New Debt-Management System Leaves Some Students Stuck in Default
Published By: The Chronicle of Higher Education
Published Date: December 9, 2011
Author: Kelly Field
Link [Subscriber Site]
Rep. Virginia Foxx: For-Profit Colleges Are More Effective
Published By: Political Correction: A project of Media
Matters Action Network
Published Date: December 8, 2011
Author: Walid Zafar
Link
Despite Bad Marks, For-Profit Colleges Still Passing
Published By: Miller-McCune
Published Date: December 2, 2011
Author: Emily Badger
Link
Consumer Advocate Says States Fall Short in Oversight of
For-Profit Colleges
Published By: The Chronicle of Higher Education
Published Date: December 1, 2011
Author: Goldie Blumenstyk
Link
New Report: State Oversight of For-Profit Schools Needs Major Improvement
Published By: National Consumer Law Center
Published Date: December 1, 2011
Author: National Consumer Law Center (NCLC) Press Release
Link
Report: State Inaction
Gaps in State Oversight of For-Profit Higher Education
Published By: National Consumer Law Center
Published Date: December 1, 2011
Author: National Consumer Law Center (NCLC) Report
Link
Deficit Supercommittee's Failure Triggers Steep Cuts for Education and Research
Published By: The Chronicle of Higher Education
Published Date: November 21, 2011
Author: Kelly Field
Link
25 College Majors with the Highest Unemployment Rates
Published By: cbsnews.com
Published Date: November 16, 2011
Author: Lynn O'Shaughnessy
Link
College Prices Up Again As States Slash Budgets
Published By: msnbc.com
Published Date: October 26, 2011
Author: Justin Pope
Link
We Can't Wait: Obama Administration to Lower Student Loan Payments for Millions of Borrowers
Published By: The White
House
Published Date: October 25, 2011
Author: Office of the Press Secretary
Actions Offer Recent Graduates an Opportunity to Consolidate Loans and Reduce Interest Rates
Today, the Obama Administration announced it is taking steps to increase college affordability by making it easier to manage student loan debt. The announcement is part of a series of executive actions to put Americans back to work and strengthen the economy because we can’t wait for Congressional Republicans to act. Read More...
Colleges Fail U.S. Financial Test
Published By: Insider Higher Ed
Published Date: October 13, 2011
Author: Doug Lederman
Link
Another Change to 'Gainful Employment' Regs
Published By: Insider Higher Ed
Published Date: September 28, 2011
Author: Libby A. Nelson
Link
8 For-Profit Colleges Collect More Than $1-Billion in Veterans' Education Benefits
Published By: The Chronicle of Higher Education
Published Date: September 22, 2011
Author: Collin Eaton
Link
Senate Budget Would Preserve Pell
Published By: Inside Higher Ed
Published Date: September 21, 2011
Author: Libby A. Nelson
Link
Calculating Costs and Benefits
Published By: Inside Higher Ed
Published Date: September 20, 2011
Author: Libby A. Nelson
Link
The Exodus Begins
Published By: Inside Higher Ed
Published Date: September 15, 2011
Author: Doug Lederman
Link
Student-Loan Default-Rate Climbs as Economy Falters
Published By: The Chronicle of Higher Education
Published Date: September 12, 2011
Author: Collin Eaton
Link
Only 40 Percent of Pell Grant Recipients Get Bachelor’s Degrees
Published By: The Center for College Affordability and Productivity (CCAP)
Published Date: September 12th, 2011
Author: Richard Vedder
Link
Sharp Uptick in Federal Student Loan Default Rates
Published By: The Project on Student Debt
Date: September 12, 2011
More than half the increase is from students who attended for-profit colleges
New data released today by the U.S. Department of Education shows a sharp increase in the rate at which student loan borrowers are defaulting. The official "two-year cohort default rates" show that 8.8 percent of student loan borrowers who entered repayment in 2009 had defaulted by the end of 2010, up from 7 percent for those entering repayment in 2008. Across all colleges, about 320,000 borrowers who entered repayment in 2009 defaulted by the end of 2010 – 81,000 more than the 239,000 borrowers who entered repayment in 2008 and defaulted by the end of 2009. More than half of this increase came from students who attended for-profit schools: about 49,000 of the 81,000. Read more...
The Other ‘Pell Runners’
Published By: New America Foundation
Published Date: September 8, 2011
Author: Stephen Burd
Link
Education Dept. Miscalculates 'Financial Responsibility' Scores, Private Colleges Say
Published By: The Chronicle of Higher Education
Published Date: September 7, 2011
Author: Goldie Blumenstyk
Link [Subscriber Site]
Is a college education worth the price?
Published By: Cleaveland.com
Published Date:
September 03, 2011
Author: Karen Farkas, The Plain Dealer
Link
A Common-Sense Solution for Shoring Up Pell Grants in 2012
Published By: New America Foundation
Published Date: August 30, 2011
Author: Stephen Burd
Link