Is a Kinder, Gentler Gainful Employment Reg in the Works While ED Announces Steps to Publish New Rates?
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.
This week the Higher Learning Commission gave final approval to the Kaplan-Purdue transaction. In this post, we discuss the changes in the regulatory environment and at the accreditor level that led to HLC’s approval of the deal and potential for similar partnerships in the future.
The Department of Education announces changes to the Gainful Employment Disclosure Template. In its Electronic Announcement, ED set April 6, 2018 as the new deadline for covered institutions to update and publish the 2018 version of the GE Disclosure Template.
Another Disclosure Requirement for California Higher Education Institutions Signals an Accelerating State Role in Student Disclosure
Beginning with the 2018-19 academic year, all higher education institutions in California, except the California Community College system, will have to provide their students an annual summary of their total borrowing to pursue their education and an estimate of their future monthly payments.
Congress is poised to give the HEA a much-needed update. The House of Representatives have introduced legislation and discussions are picking up in the Senate, but questions remain as to the scope and timing for completing action.
The 2017 FSA Training Conference is November 28-December 1, 2017 in Orlando, Florida. The FSA Conference is the largest training program in the US for school and institution financial aid professionals. Cooley team members will be attending the Conference.
The drama surrounding the US Department of Education’s Borrower Defense to Repayment Rule continues, with the date the rule would come into effect now delayed to July 1, 2019.
Financial statement audits prepared under the Department of Education’s new Audit Guide will involve more detailed 90/10 testing and note disclosures. Read more in the seventh post of our Audit Guide series.
The sixth post in our Audit Guide series focuses on the new requirements for third-party servicers. Institutions of all types that use any third-party servicers should become familiar with these new Audit Guide requirements.
Delaware Public Benefit Corporation law presents opportunities for postsecondary institutions. Cooley’s resource center for entrepreneurs and businesses, Cooley GO, now includes a PBC Incorporation Package.