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2010 PLS Career Summit: Tom Kosel, Director of Government Relations, Globe University

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Tom Kosel's presentation regarding Gainful Employment at the 2010 PLS Career Summit in Atlanta

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2010 PLS Career Summit: Tom Kosel, Director of Government Relations, Globe University

  1. 1. Gainful Employment Panel<br />Tom Kosel, Director of Government Relations<br />Globe University / Minnesota School of Business<br />
  2. 2. Gainful Employment<br /> Since 1965, For-Profit Career Colleges have assisted their graduates in obtaining gainful employment by helping them secure a position in their field of study.<br />
  3. 3. Potential Final Gainful Employment Regs 7/1/2012<br />
  4. 4. Key Factors Driving Gainful Employment<br />Student loan debt is increasing in all sectors of higher education<br />For-Profit institutions graduate students with the highest average debt and the highest % of students with debt<br />Lack of consistent, valid data on the ROI and the value- added received by our graduates <br />Bias against For-Profit Educational Businesses<br />
  5. 5. The Challenge<br />To provide student-centered, career-focused educational programs while reducing student loan debt<br />
  6. 6. Measuring the Outcomes of the Operation<br />We have not tracked outcomes in a consistent manner. <br /> We do not have verifiable data to support our claim that we add value to the lives of our students.<br />The gainful employment regs will require us to track data to demonstrate the eligibility and accessibility of our programs. <br />
  7. 7. Gainful Employment Requirements<br />See handout titled “Program Integrity: Gainful Employment – New Programs 10/29/2010<br /> New Programs<br />Reporting Requirements<br />Disclosure Requirements<br />
  8. 8. 10/29/10 Final Regulations Effective 7/1/11<br />Gainful Employment – new programs<br />Institutions must notify DOE of new program at least 90 days before first day of classes <br />If DOE wants additional information, they must alert the institution 30 days before the first day of classes.<br />
  9. 9. 10/29/10 Final Regulations Effective 7/1/11<br />Gainful Employment – reports<br />Annual reports by program from 7/1 to 6/30 with the following data:<br />All students entering the program<br />All students completing the program<br />Completion date<br />Amount student received from private educational loans and institutional financing that is owed<br />Whether student matriculated to higher credential program at same institution or at another institution<br />Total enrollment as of 6/30<br />
  10. 10. 10/29/10 Final Regulations Effective 7/1/11<br />Gainful Employment – disclosures<br />Disclosures must be in all promotional material and websites:<br />Occupation the program prepares students to enter<br />On-Time graduation rate for program<br />The cost of the program including tuition, fees, books and supplies<br />Placement rate for students completing the program using the methodology developed by NCES<br />Median loan debt of all students completing the program<br />
  11. 11. Final Gainful Employment Regs 7/1/2012<br />
  12. 12. Gainful Employment: Suggested reading list<br />See one page handout – for electronic version, send email request to <br />tkosel@globeuniversity.edu<br />

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