Gainful Employment Disclosures
Federal Financial Aid Gainful Employment Disclosures
The U.S. Education Department’s gainful employment regulations require disclosure of certain program information to students and prospective students. Gainful employment programs are those “that prepare students for gainful employment in a recognized occupation.” The information provided below will define what is considered a “gainful employment” program, and provide definition of the information an institution is required to disclose. The full regulation may be found at the Federal Register.
Gainful employment regulations require disclosure of the following information for each “gainful employment” program:
- Occupations by name and Standard Occupational Classification (SOC) code that the program prepares students to enter
- Normal time to complete the program (e.g., two-year associate’s degree)
- On-time graduation rate for students, including leaves of absence, etc., in time calculations
- Costs of tuition and fees, books and supplies, and room and board, listed separately
- Placement rate for those completing the program, as determined by states or accrediting agencies
- Median debt load of those completing the program, separated by type of loan and calculated based on data from students completing the previous award year.