A First Look at ‘Gainful Employment’ Data, by Program and Institution
The Department of Education on Tuesday released for the first time gainful-employment data for 3,695 vocational programs at 1,336 institutions. Under new rules that fully take effect next year, these career-training programs must meet at least one of three benchmarks in at least three out of four consecutive years in order to remain eligible for federal student aid.
Programs that failed on all three measures in the DOE regs:
Information About the Gainful Employment Downloadable SpreadsheetThe 2011 Gainful Employment Downloadable Spreadsheet provides the public with information about educational programs that prepare students for gainful employment in a recognized occupation (GE Program). Under the regulations that go into effect on July 1, 2012, the US Department of Education calculates metrics for GE Programs each year. These metrics include a Repayment Rate, two Debt-to-Earnings Ratios, and three student loan medians.
The 2011 GE Informational Rate information included on the downloadable spreadsheet was produced for the purpose of providing institutions with preliminary information they can use to assess their GE Programs in preparation for the official gainful employment metrics that will first be calculated in 2013. These FY 2011 GE Informational Rates are for informational purposes only and, as such, do not invoke any regulatory requirements, sanctions, or other adverse action. These informational rates were prepared in advance of the years in which programs that fail the debt measures will be required to provide debt warnings and may lose eligibility after failing three out of four consecutive years.
The 2011 GE Informational Rates were not calculated for a GE Program if the program had 30 or fewer former students in the relevant two-year period. Beginning next year, official gainful employment debt measures will include small programs using a four-year period if that four-year period results in more than 30 former students for the GE Program.
The Median Private Loans, Median Institutional Loans, and Median Title IV Loans were calculated from the 2010-2011 award year for disclosure purposes and are NOT the medians that were used in the Repayment Rate or Debt-to-Earnings Ratio calculations.
IMPORTANT DISCLAIMER: The 2011 Gainful Employment Informational Rates were prepared to provide institutions with preliminary data about the performance of their GE Programs. The calculation of the 2011 Gainful Employment Informational Rates did not include a process for institutions to receive draft debt measures and to submit challenges, as the institutions will for official rate calculations. For these reasons, the 2011 Informational Rates are not intended to form a basis for making any general or specific assumptions or determinations about specific GE Programs, or in making projections about future years' rates.