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Effective July 1, 2015, the rules apply to students enrolled in GE programs who receive Title IV aid. Prior to that date, the rules apply to any student enrolled in a GE program. Certain new requirements also apply to prospective students, defined as individuals who made contact with the school regarding enrolling in a GE program. This contact may be student-initiated or school-initiated, including contact by a third party on the school’s behalf.
GE programs must meet two requirements: u Certification, and u Debt-to-earnings (D/E) rates. The proposed rules included a third requirement, Program CDRs, but ED eliminated that provision in the final rule.
The school must certify each GE program is:
- Included in the school’s accreditation, or for vocational schools, approved by the recognized state agency.
- Satisfies applicable state or federal program-level accreditation requirements.
- Satisfies applicable state licensing and certification requirements relevant to the program. ED will implement this certification as an addendum to the Program Participation Agreement for existing programs.
Schools must make the first certifications to ED by Dec. 31, 2015.
ED established two D/E rates:
- Discretionary income rate: The percentage of a GE program’s students’ annual loan payment compared to the discretionary income of the students who completed the program.
- Annual earnings rate: The percentage of a GE program’s students’ annual loan payment compared to the annual earnings of the students who completed the program. The loan debt includes Title IV, private and institutional debt, but excludes cancellations and adjustments. The median amount used in the calculation will be the lesser of: u Amount of tuition, fees, books, supplies and equipment.
- The actual loan amount, including any portion for living expenses. The Department will request mean and median annual earnings information annually from the Social Security Administration to use in the calculations.
To access the 2011 Gainful Employment Informational Rate Downloadable Spreadsheet click here.
Click on the program names below to access their Gainful Employment information.