U.S. Department of Education Gainful Employment Regulations: The Sequel (EDU240A)

Presented By: Yolanda R. Gallegos
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Event Details
  • Pre-recorded Audio Conference
  • 60 minutes
  • Thu, February 27, 2014
Event Description

Get the Inside Scoop on Gainful Employment

The U.S. Department of Education is at it again, and this time its proposal for Gainful Employment regulations could be devastating for private sector (for-profit) colleges, universities, and other career training programs that participate in the federal financial aid programs. In the last half of 2013 the U.S. Department of Education (ED) engaged in the process of negotiated rulemaking with the aim of imposing metrics on certain postsecondary institutions to assess whether programs prepare students for gainful employment in a recognized occupation. In December 2013, ED released draft regulations that spell out a regulatory scheme with potentially catastrophic results.

ED’s own projections forecast that 20% of affected programs will not pass the metrics it has proposed in draft form and that projection may be woefully optimistic because of the outdated data upon which ED has relied to make its projections. Programs that fail these gainful employment metrics will lose their ability to participate in the federal financial aid programs authorized by Title IV of the Higher Education Act.

Join us for this insightful webinar by Yolanda R. Gallegos, to explore what the U.S. Department of Education’s proposed regulations could mean for your institution.

This webinar will inform private sector postsecondary schools of what ED has proposed and identify where the regulatory landmines are likely to be laid. For example:

  • ED’s methodology will ignore potentially millions of dollars of graduate earnings. This is because it will rely on the Social Security Administration to obtain graduate earnings data, but graduates who choose not to report their income or who are legally not required to report earnings may not have their earnings counted for purposes of the GE metrics. This is particularly of concern for self-employed graduates who have no employer to report W2 forms.
  • ED’s projection that 20% of covered programs will not pass its proposed metrics may be significantly over-estimated because its projections are based, in part, on pre-2008 annual loan limits that were raised substantially in 2008.
  • ED’s proposed methodology of calculating graduate debt will inflate calculations of annual debt burden by amortizing the debt over 10 years, even though many graduates tend to amortize their debt over significantly longer periods of time.

You’ll learn:

  • How to challenge the proposed gainful employment requirements before they become law
  • How SSA will calculate aggregate earnings.
  • How the proposed calculation of the annual loan payment could exaggerate the estimated graduate debt burden

Who should attend:

  • Officers and owners of private sector (for-profit) postsecondary institutions and other institutions that offer short-term, non-degree programs
  • Investors in private sector postsecondary institutions
  • Career placement professionals
  • Postsecondary financial aid professionals
  • Postsecondary regulatory and compliance professionals

Join us on Feb, 27, 2014 at 1:00 p.m. ET to learn the steps your institution should be taking now to deal with the proposed Gainful Employment regulations.

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About Our Speaker(s)

Yolanda R. Gallegos
The Gallegos Legal Group, founded by Yolanda Gallegos, is a national education law practice, representing colleges and universities around the country. Gallegos Legal Group specializes in higher education regulatory compliance and risk management in areas associated with federal student aid, student grievances, civil r... More info


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