We would like to alert schools that we will send the revised draft Financial Value Transparency and Gainful Employment (FVT/GE) Completers List to schools over the weekend of Oct. 26–27, 2024. The list will be transmitted in message class GEFVCMOP to the school’s Student Aid Internet Gateway (SAIG) TG mailbox that is enrolled for NSLDS FVT/GE reporting. As announced in GE-24-08, schools have until Jan. 15, 2025 to review and correct student information on the revised draft FVT/GE Completers List.
We appreciate schools’ patience as we worked to update the lists and thank our partners for the feedback we received that helped us identify issues to address.
If your school does not automatically receive the draft FVT/GE Completers List in your school’s SAIG TG mailbox because at least one location is not yet enrolled for NSLDS FVT/GE reporting, please refer to the “FVT/GE Completers List Ad Hoc Report (GEFVC1)” section below for information about the ad hoc report option. The correction period closes on Jan. 15, 2025 for all schools, whether the list was automatically delivered to the school’s SAIG TG mailbox or not.
Note: If you would like to automatically receive the final Completers List in your school’s SAIG TG mailbox when it is sent after the correction period, sign up for the FVT/GE Reporting batch service via SAIG enrollment. For step-by-step instructions refer to the detailed SAIG enrollment information in the June 13, 2024 Electronic Announcement.
We are working on updates to the NSLDS FVT/GE reports that are intended to assist schools with their FVT/GE reporting requirements. As noted in GE-24-08, schools have until Jan. 15, 2025 to provide all required FVT/GE reporting data. We will provide another update when the reports are ready.
What is the FVT/GE Completers List?
Under 34 CFR 668.402 and 668.403, the Department calculates debt-to-earnings (D/E) rates and earnings premium (EP) measures using the debt and earnings of students who completed the program during a specified cohort period. Depending on the number of students who completed the program, the cohort period will either be two years or four years.
If a program has 30 or more completers in the third and fourth award years prior to the most recent earnings year, a two-year cohort is used. For programs with fewer than 30 completers in the two-year cohort, the four-year cohort is used, including students from the third to sixth award years prior to the most recent earnings year. D/E rates and EP measures will not be calculated for programs that have fewer than 30 students that completed within the four-year cohort period. In order for programs to be evaluated for the two-year or four-year cohort period, all programs with the same four-digit CIP code at the institution would have had 30 or more students who completed the program and received Title IV aid during the four most recently completed award years.
After the programs are evaluated and meet the minimum threshold of completers, the draft 2024 FVT/GE Completers List identifies all relevant students who completed a GE and Eligible Non-GE program during the two-year cohort period (2017–18, 2018–19) or the four-year cohort period (2015–16, 2016–17, 2017–18, 2018–19) for the 2022 earnings year. Students that are on the Completers List have received Title IV aid based on administrative data on NSLDS.
If a program is classified as a qualifying graduate program and the school successfully confirms this through the FVT/GE Program Submittal process, that program will be removed from the school’s Completers List as it will fall within the two-year or four-year cohort period specifically for students in qualifying graduate programs, which will not be factored into the 2024 FVT/GE calculations.
Required Actions
As stated earlier, upon receiving the draft FVT/GE Completers List, schools have until Jan. 15, 2025 to review and correct student information.
During the correction period, schools can add or remove students from the list or opt to exclude them from the FVT/GE calculations using NSLDS Enrollment Reporting, FVT/GE reporting, or the FVT/GE Completers List page on the NSLDS Professional Access website. For instance, if a student did not receive Title IV aid for attendance in the program, schools should remove them from their Completers List.
After the conclusion of the correction period, a final FVT/GE Completers List will be generated and sent to schools. Students who remain on the Completers List and who are not identified as excluded will be sent to the Internal Revenue Service (IRS) to gather the annual median earnings data that is needed for calculating D/E rates and EP measures for programs.
Please refer to Volume 3 – FVT/GE Completers List of the NSLDS FVT/GE User Guide for guidance on understanding the content of the Completers List, reviewing student data, identifying exclusions, and other relevant topics.
FVT/GE Completers List Ad Hoc Report (GEFVC1)
An alternative method to access the FVT/GE Completers List is to request the ad hoc report, FVT and GE Completers List Report (GEFVC1), from the NSLDS Reports Tool on the NSLDS Professional Access website. This report will be delivered to the SAIG TG mailbox associated with the requesting user in fixed-width format using the message class GEFVCMOP from the NSLDS TG Mailbox ‘TG50012’. This report may also be downloaded in Excel format.
The draft FVT/GE Completers List will be available via ad hoc requests throughout the correction period to ensure that schools have the latest version of the list, whereas the final Completers List will be accessible only after the conclusion of the correction period.
For more information about the FVT and GE Completers List Report, refer to Volume 3, Chapter 5, of the NSLDS FVT/GE User Guide.
Contact Information
If you have questions about NSLDS FVT/GE reporting, contact the NSLDS Customer Support Center at 1-800-999-8219 or nslds@ed.gov.
If you have policy questions about the FVT/GE regulations, please direct them to GE24@ed.gov.
If you have operational questions about FVT/GE, please direct them to GEOperations@ed.gov.