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Blog: ED’s New Audit Guide – 90/10 Compliance

As with many other areas of financial aid management discussed in our prior posts, the audit requirements relating to compliance with the “90/10 Rule” have increased significantly in ED’s new Audit Guide. These new...more

Blog: Department of Education Extends Deadline for Gainful Employment Earnings Appeals

The Department of Education issued a notice on August 18 that extends the deadline for all institutions to file alternate earnings appeals that challenge the debt-to-earnings rates issued for their GE programs in January...more

Blog: New ED Audit Guide Now Requires Extensive Gainful Employment Compliance Testing

As noted in our previous blog post on ED’s new Audit Guide, for the first time ED is requiring that independent audit firms conduct extensive testing relating to Gainful Employment (GE) data reporting and mandated disclosures...more

Blog: Last Minute Reprieve in GE Rule

With minutes to spare before the close of business today, the Department of Education (ED) issued a Notice in advance of official publication in the Federal Register, announcing a delay in a number of requirements relating to...more

Blog: Department of Education’s Announcement Leaves Unanswered Questions Regarding Coming Gainful Employment Rule Deadline

The Department of Education’s (ED) announcement that it plans to engage in a new negotiated rulemaking to revise the Gainful Employment (GE) Rule leaves unanswered critical questions regarding the implementation of certain GE...more

Blog: As the Department of Education Revisits the Gainful Employment Rule California Legislators Propose a State Alternative

With continued questions about the Trump Administration’s commitment to Obama-era regulations, including the Gainful Employment (GE) Rule, one state is ready to jump into the fray and offer its own state-based alternative to...more

Alert: All Institutions Face New Risks Under ED’s Final Borrower Defense Rule

In this, the first in a series of client alerts that will explain the workings of the new Borrower Defense to Repayment Rule (BDTR), we explore what promises to be a series of rules, procedures and interpretations to be...more

Alert: ED Issues Sweeping Proposed Rules on Borrower Defense

Almost four months after the marathon negotiated rulemaking ended in March without consensus, the US Department of Education (ED) has released a massive Notice of Proposed Rulemaking describing how it plans to refocus the...more

Alert: Challenges to Gainful Employment Student Completer Lists Due July 28

The US Department of Education has set the deadline for institutions to file corrections to their "student completer lists" as the next major step in ED's effort to publish the first set of rates under the Gainful Employment...more

Alert: Rulemaking Panel Proposes Process for Student Debt Forgiveness Under BDTR

This is the third in a series of Cooley client alerts that discuss issues raised during the Borrower Defense to Repayment (BDTR) Negotiated Rulemaking. Our first alert discussed the Negotiated Rulemaking itself, and the...more

Alert: New Student Debt Standards Could Allow Massive Loan Forgiveness

While the Negotiated Rulemaking has concluded, the issues embedded in the Borrower Defense to Repayment regulation (BDTR Rule) remain under active discussion within the US Department of Education and promise to change the...more

Alert: ED to Issue First Set of Gainful Employment Rates in January

The US Department of Education just announced its intent to issue the first set of official Debt to Earnings Rates ("D/E Rates") under the Gainful Employment Rule ("GE Rule") in January 2017. That timing would be consistent...more

Alert: Negotiations on New Defense to Repayment Rules Fail: It's All Up to ED Now

Following a highly charged, often contentious three days of debate, the third session of the Negotiated Rulemaking on Borrower Defense to Repayment (DTR) ended as it started, without consensus. The Department of Education...more

Alert: Cuban and Iranian Embargoes Lifted? Not so Fast…Restrictions Remain on Certain Academic and Research Activities

Much has been written recently about the lifting of the US embargoes targeting Iran and Cuba. Despite recent liberalization in discrete areas (e.g., travel, family remittances, and internet based communications),...more

Alert: ED Adds New Letter of Credit Requirements to Student Loan Negotiations

The US Department of Education and appointed negotiators representing higher education and legal groups are preparing for the second round of negotiations to expand the "Borrower Defense to Repayment" regulations, with the...more

Alert: Beware of Predatory Student Debt Relief Advertisements that Target Your School

In a recent trend, student debt relief scammers are engaging in aggressive marketing tactics by placing advertisements that target student loan borrowers from a specific institution of higher education. These advertisements...more

Alert: Timeline for First Set of Gainful Employment Rates Slips Further

The US Department of Education has announced another delay in the distribution of the Completer Lists for Gainful Employment programs until Spring 2016, which is bound to push back the date for ED to issue the first set of...more

Alert: Pending Rulemaking Likely to Expand Borrower Defenses Against Repaying Federal Direct Loans

The US Department of Education (ED) is preparing for a new rulemaking that is intended to clarify—and very likely expand—the ability of student borrowers to be relieved of the obligation to repay their Federal Direct Loans....more

Alert: The Gainful Employment Rules: New Guidance on Reporting Obligations, Program Certification and Disclosure Requirements

On August 10, 2015, notably 10 days after the deadline for reporting the first set of student data for calculation of the GE debt-to-earnings rates passed, ED issued new guidance in an Electronic Announcement ("EA 58")...more

Alert: "Ability to Benefit" is Back, But Not the Same

Recently, a number of third-party test providers have begun promoting the Department of Education's ("ED") approval of their Ability-to-Benefit ("ATB") assessments by notifying institutions that, after a three-year hiatus,...more

Alert: Seven Steps To Prepare For The New Gainful Employment Rule

The Gainful Employment Rules became effective on July 1, 2015, and you probably already know that your institution has a deadline to report six years' worth of institutional, student and financial data to the Department of...more

Alert: No 11th Hour Reprieve: GE Rules Upheld

With a second court ruling in late June in favor of the U.S. Department of Education, the Gainful Employment Rules ("GE Rules") took effect on July 1, 2015. The GE Rules will, ultimately, provide new challenges to the...more

Alert: Gainful Employment Regulations: Recent Updates from the Department of Education

The Department of Education published another announcement in its series of Electronic Announcements ("EAs") last week, as it prepares to implement the new Gainful Employment ("GE") regulations. Those regulations are...more

Alert: Conversion of a Postsecondary Educational Institution from a For-Profit to a Nonprofit, Tax-Exempt Entity

The recent announcements that Grand Canyon University would explore nonprofit status and that Corinthian Colleges plans to sell a group of schools to a nonprofit entity have encouraged higher education companies to take a...more

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