Update: Official Gainful Employment (GE) Rule by U.S. Department of Education Published
As we posted on June 28, 2019, the U.S. DOE rescinded the Gainful Employment (GE) Rule and posted the official version today, July 1, 2019.
Below is the link to the Federal Register for your files:
In an Electronic Announcement issued on Friday, the Department provided:
An institution that early implements the rescission must document its early implementation internally. It does not have to publish its decision to do so; however, it must make such documentation available upon request by the Department. Institutions that do not early implement the rule are expected to comply with the 2014 rule until the rescission becomes effective on July 1, 2020.
Schools subject to GE, who want to initiate early implementation of the GE rule rescission need to document this decision today, July 1, 2019.
Below is a sample type “memo” the school can use, at a minimum, to document this decision.
Gainful Employment Early Implementation Memo
Effective July 1, 2019, (SCHOOL NAME) has adopted and will be bound by the gainful employment rule as amended in 84 FR 31392, as published on July 1, 2019.
It is important that each school keeps this documented decision on file internally and is able to produce it at the request of the Department.
If you have questions about the GE regulations please feel free to contact Hogan Marren Babbo & Rose, Ltd., at 312.946.1800.