It’s the End of FVT&GE as We Know It
Phil Hill
December 30, 2025
The Department of Education (ED) has released its discussion draft for a new federal accountability framework, revising the existing Financial Value Transparency (FVT) and Gainful Employment (GE) regulations to align with statutory changes enacted in the One Big Beautiful Bill Act (OBBBA). While the underlying program-level data have not yet been released (expected later today), the rules text, especially the annotated version circulated ahead of negotiated rulemaking, makes ED’s priorities unusually clear. I’d like to share my initial observations.
This is not a technical tune-up. It is a deliberate simplification.
ED is proposing a single, statute-driven accountability framework for all postsecondary programs participating in the Title IV Direct Loan Program. Where prior rules layered multiple metrics, carve-outs, and special treatments, the new proposal strips those away in favor of uniform enforcement and straightforward implementation of congressional language. Furthermore, ED’s proposal rebrands the Financial Value Transparency regulations and related changes as a new Student Tuition and Transparency System (STATS).
