IHEP’s Recommended Clarifications to ED’s Financial Value Transparency Framework Data Reporting Elements
Published Apr 26, 2024
Washington, DC (April 26, 2024) – This week, the Institute for Higher Education Policy (IHEP) responded to the U.S. Department of Education’s proposed information collection request related to the Financial Value Transparency framework and gainful employment regulations. IHEP seeks to support the framework’s implementation by recommending the following specific clarifications on data reporting elements:
- Classification of Instructional Programs (CIP) Code Reporting: Clarify whether institutions should use the 2010 or 2020 CIP classification and provide crosswalks to meet program reporting requirements.
- Licensure (Geographies): Clarify how institutions not located within metropolitan statistical areas should report this element.
- Licensure Requirements (Indexing): Specify the type of licensure requirements institutions are expected to index against.
- Total Number of Graduates Passing Licensure Exams: Clarify reporting guidelines for institutions lacking or experiencing delays in obtaining student-level licensure outcome data.
- Total Enrolled Students by Program: Specify if total enrolled students include those enrolled in a program at all levels or only those expected to graduate in the most recently completed award year.
These clarifications will ensure accurate data reporting and the timely rollout of the framework. The Financial Value Transparency framework will inform data-driven decision-making among institutions and policymakers at all levels, ultimately enabling students to reap greater returns from their postsecondary investment.
Read the full letter.
