A  |  B  |  C  |  D  |  E  |  F  |  G  |  H  |  I  |  J |  K  |  L  |  M  |  N  |  O  |  P  |  Q  |  R  |  S  |  T  |  U  |  V  |  W  |  X  |  Y  |  Z

For help with other compliance reporting terminology, visit our Enrollment Reporting glossary.

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A

Annual Amount Detail Record (AA)

Part of the student-level report that is used to report all students who 1) were enrolled through the end of the most recently completed award year and 2) have received Title IV funds for the program being reported at any time.

Annual Cohort

After the initial FVT/GE reporting cycle, your institution will be responsible for reporting the most recent award year of data for your students (student-level report) and programs (program-level report) for each following year. This includes all fields that were reported in the initial standard or transitional cohort file. See Annual Reporting.

Annual Cost of Attendance (COA)

The inclusive estimated total expenses that a student would have incurred at their institution within an academic year.

Annual Earnings

The graduate’s yearly income. See Debt-to-Earnings (D/E).

Annual Earnings Rate

A formula to measure what percentage of a graduate’s yearly earnings are used to repay student loans. See Debt-to-Earnings (D/E).

Annual Loan Payment

The total amount paid toward student loans each year. See Debt-to-Earnings (D/E). 

Annual Reporting

Institutions are required to submit FVT/GE reporting metrics on a yearly basis for the respective cohort timeframe. The annual reporting’s purpose is to provide both financial and operational transparency and enable NSLDS and the IRS to produce debt-to-earnings (D/E) and earnings premium (EP) measurements to evaluate borrower ability to make payments on a student loan and determine if a program benefits a student’s earning potential. See Annual Cohort.

C

Classification of Instructional Programs (CIP) Code

A taxonomic coding scheme comprised of six-digit numeric identifiers developed by ED’s National Center for Education Statistics (NCES) to categorize fields of study. NCES updates the CIP code list approximately every 10 years. The previous (now outdated) CIP code list was “CIP Year 2010.”  The current CIP code list is “CIP Year 2020.”

Cohort Period

The set of years used to identify students for FVT/GE reporting. A cohort period does not include students meeting exclusion criteria.

• 2YR cohort period. Applies to programs with 30+ completers.
  • For most programs, it is the 3rd and 4th award years (prior to the year the federal agency earnings data is available) from which D/E rates and EP are calculated.
  • For Qualifying Graduate Programs (QGPs), it is the 6th and 7th award years (prior to the year the federal agency earnings data is available) from which D/E rates and EP are calculated.

• 4YR cohort period. Applies to programs with fewer than 30 completers in the 2YR cohort where the 4YR cohort has 30+ completers. If there are fewer than 30 completers in the 4YR cohort period, the D/E rates are not calculated.
  • For most programs, it is the 3rd, 4th, 5th, and 6th award years (prior to the year the federal agency earnings data is available) from which D/E rates and EP are calculated.
  • For Qualifying Graduate Programs (QGPs), it is the 6th, 7th, 8th, and 9th award years (prior to the year the federal agency earnings data is available) from which D/E rates and EP are calculated.

The FVT/GE Cohort Period runs from June 30 of the prior year to July 1 of the current year, and may not align with an institution’s academic or fiscal year calendar. The established Cohort Period for reporting FVT/GE cohorts should align with the date period provided by the FVT/GE guidance for reporting, not an institution’s calendar or academic term structure.

Comma Separated Values (CSV)

Text file format that uses commas to separate values. The CSV file type (as well as TXT) is a formatting option for Clearinghouse FVT/GE Student Level Reporting and Program Level Reporting.

Completers List

The FVT/GE Completers List is created by NSLDS using your institution’s enrollment reporting data. The list contains students who completed a GE or eligible non-GE program during the applicable cohort period. Ultimately, this list will be used, with the student detail and program files, to determine a program’s debt-to-earnings (D/E) and earnings premium (EP) rates. If your institution partners with the Clearinghouse for FVT/GE reporting, we will post the FVT/GE Completers Lists we receive from NSLDS on our secure site for your review.

• Draft Completers List: Created and distributed by NSLDS. This is the version your institution reviews and edits, including exclusions, prior to submission to NSLDS.
• Final Completers List: Created and distributed by NSLDS. This is the completed version NSLDS generates after your institution submits its Draft Completers List.

Comprehensive Transition and Postsecondary Program (CTP Program)

A program that be categorized as degree, certificate, nondegree, or noncertification for students with intellectual disabilities.

Cost of Attendance (COA)

See Annual Cost of Attendance.

D

Date Format (Student Level report and Program Level report)

• CCYYMMDD – represents a date. Example:  July 1^st, 2020 is 20200701
  • C = century
  • Y = year
  • M = month
  • D = day of the month

• CCYYCCYY – represents a range of years. Example:  July 1^st, 2020 through June 30^th, 2021 is 20202021
  • C = century
  • Y = year
  • C = century
  • Y = year

Debt-to-Earnings (D/E)

A ratio that measures loan affordability by determining the borrower’s annual earnings and comparing it with the borrower’s student loan payments. D/E and EP are foundational aspects of FVT/GE regulations. See Earnings Premium (EP).

There are two D/E formulas:

1. Annual Earnings Rate = Annual Loan Payment / Annual Earnings
2. Discretionary Income Rate = Annual Loan Payment / Annual Earnings – 150% Poverty Guideline (or multiplied by 1.5)

Department of Education (ED)

A department of the United States government that establishes policies on federal financial aid and higher education, collects data on America’s educational institutions and disseminates research, focuses on addressing key education issues impacting the country, and ensures equal access to education.

Department of Education Program Information Site (Department Disclosure site), effective July 1, 2026

This website page will be established by ED for disclosure requirements and student acknowledgements and warnings. Upon launch, you must comply by prominently displaying a link to this ED site page on your institution’s public site. See Disclosure Requirements and Student Acknowledgements and Warnings.

Disclosure Requirements, effective July 1, 2026

FVT/GE regulations require institutions to publicly disclose certain information as part of FVT/GE regulations. A link to the designated Department of Education (ED) site page, as directed by ED, must be readily accessible as well as conspicuously and prominently displayed on the institution’s website. ED refers to the site to which you must link your institution’s website as the “Department disclosure website.”  ED may reach out to an institution if it  determines the link is inaccessible or inconspicuous on the institution’s site.

The purpose of the Department disclosure website is to provide transparency to prospective and current students to assist them with decision-making regarding their education choices. Required information includes program-level information; accreditation status, including the accrediting agency; state licensure preparation; cost of attendance; student outcomes (median annual earnings, debt levels, D/E ratio, EP rate, warning for high debt programs that do not meet D/E ratios); and program performance metrics. See Student Acknowledgements and Warnings.

Discretionary Income Rate

A formula to measure what percentage of a graduate’s flexible earnings expenditures are used to repay student loans. The formula is Annual Earnings minus 150% of the poverty guideline for a single/individual person. See Debt-to-Earnings (D/E).

E

Earnings Premium (EP)

An assessment of programs using a series of metrics to evaluate if the program benefits the student’s earning potential. D/E and EP are foundational aspects of FVT regulations. The EP test evaluates whether a graduate of the program, who is between the ages of 25-34, earns the same or more than a higher institution graduate (also between ages 25-34) in the workforce within their respective states. The test is used to determine the value of the program graduate’s earnings based on the cost of attending the program. (If less than 50% of the program’s graduates are employed within the state, national median earnings are used in place of state median earnings.)

F

Financial Value Transparency (FVT)

A framework established by ED to improve the quality and availability of information provided directly to students regarding the costs, sources of financial aid, and outcomes of students enrolled in all title IV, HEA (Title IV) eligible programs. D/E and EP are measures used to establish performance benchmarks and determine if a program could have negative financial consequences for students. FVT/GE regulations require institutions to publicly disclose: program name, CIP code, credential level, published length, and measurement, accreditation status and accrediting agency, state licensure preparation status, enrollment counts, licensure exam participation, and the pass rates for graduates as well as D/E ratio and EP measures for the program’s graduates.

G

Gainful Employment Program (GE), effective July 1, 2024

A program that is subject to GE regulations. Typically, a GE program is offered at a for-profit (proprietary) institution or as a certification program at public and private nonprofit institutions. The GE federal regulations require institutions that offer career- driven programs to demonstrate that graduates (completers) can afford to repay the debt accrued while attending the program and that the program offers the same or greater financial return to the student, as compared to a higher institution graduate working in their state. See Earnings Premium (EP).

I

Institutional Exclusions

Certain institutions and all their programs may be exempt from certain or all FVT/GE requirements.

1. Institutions that do not have groups of programs with the same four-digit CIP code prefix that have graduated at least 30 students in total over the past four award years are not required to comply with any FVT/GE provisions.
2. Institutions whose main campuses are in a U.S. territory or Freely Associated State (Federated States of Micronesia, Republic of the Marshall Islands, or Republic of Palau) are exempt from most GE accountability requirements and many FVT provisions. However, they still need to fulfill reporting obligations.

N

Non-Gainful Employment Program (Non-GE), effective July 1, 2024

A program that is not subject to GE regulations but is typically subject to FVT regulations. This includes degree programs at public and private nonprofit institutions that lead to an associate, bachelor’s, master’s, or doctoral degree. Conversely, certificate programs offered by public and private nonprofit institutions may qualify as GE programs because GE federal requirements are not always limited to for-profit (proprietary) institutions. For the definition of a GE program, see Gainful Employment (GE) Program.

Notification of Determination

A formal written notification from ED to your institution that includes:

• Final debt-to-earnings (D/E) rates and earnings premium (EP) measures for each program
• Whether each program is classified as passing or failing each of the D/E and EP measures
• Whether prospective students need to provide acknowledgment

Notifications for GE programs also include:

• Whether the institution must issue student warnings
• Whether the program could potentially lose eligibility for the next award year based on its D/E rates or EP measures
• Whether the program faces potential loss of eligibility due to failing D/E rates or EP measures in two out of three consecutive years for which metrics are calculated

If relevant, the notification will clarify the period of ineligibility.

If ED does not compute or release debt-to-earnings (D/E) rates or earnings premium (EP) measures for a program in a given award year, the program’s status for those metrics remains unchanged from the previous award year.

ED does not consider any D/E rates or EP measures that were calculated more than five years ago.

NSLDS Program Enrollment Detail Report (SHDPE1)

Identifies students and their certified program enrollment data as reported to NSLDS via enrollment reporting. This report is available to institutions on the NSLDS site.

NSLDS Program Enrollment Summary Report (SHSPE1)

Identifies programs that have students with certified attendance as reported to NSLDS via enrollment reporting. This report is available to institutions on the NSLDS site. 

NSLDS Students with No Program Enrollment Report (SHNPE1)

Identifies students who were certified with campus-level enrollment data but no program-level enrollment data on NSLDS. This report is available to institutions on the NSLDS site.

O

Office of Postsecondary Education Identifier (OPEID)

Identification number used by the U.S. Department of Education’s Office of Postsecondary Education (OPE) to identify schools that have Program Participation Agreements (PPA) so that its students are eligible to participate in Federal Student Financial Assistance programs under Title IV regulations. The Clearinghouse uses OPEIDs in its Enrollment Reporting service for the purposes of student aid compliance and FVT/GE reporting.

P

Poverty Guideline

The federal guideline for a single/individual person that changes year over year. See Debt-to-Earnings (D/E).

Program Level Reporting (part of the Clearinghouse FVT/GE service)

Required reporting for the FVT/GE federal regulations, referred to as “Program Submittal Reporting” by the NSLDS. *See Student Level Reporting, which is also required.

Q

Qualifying Graduate Program (QGP)

A program whose students must complete required postgraduation training programs to obtain licensure to practice in the field. Such programs must be accredited by an agency that meets state requirements, if the state has such licensure requirements. To be considered a qualifying graduate program, at least half of a program’s graduates must obtain licensure in a state where the postgraduation training requirements apply.

QGP Indicator (Program-Level Report)

A reported program that is considered a qualifying graduate program and whose students are required to complete postgraduate training programs. Values are: Y (yes), N (no), or N/A (program will not be considered a qualifying graduate program).

QGP Indicator (Student-Level Report)

A reported program that is considered a qualifying graduate program and whose students are required to complete postgraduate training programs.

S

Second Chance Pell Program

A federal grant for needs-based incarcerated individuals. The program’s goal is to increase employment opportunities through education and avoid recidivism.

Short-Term Pell

A federal grant for students enrolled in short-term programs that providing 150-599 clock hours of instruction over eight-14 weeks.

Standard Cohort (Standard Period)

One of two cohort options for the FVT/GE student-level reporting requirement. The standard cohort option comprises seven years of undergraduate data and eight years of graduate data. Once the initial cohort option is selected and used to report student-level data, the institution is locked into this cohort type for the following six years. For the second cohort option, see Transitional Cohort (transitional period).

Student Acknowledgements and Warnings, effective July 1, 2026

Prospective students are required to confirm that they have reviewed information available on ED’s website. Before the institution accepts them for enrollment, prospective students must provide these confirmations until the earlier of:

1. The date ED notifies the institution that the program has met the debt-to-earnings (D/E) ratio requirements, or
2. Three years after the institution last received notification that the program did not meet the D/E ratio requirements.

ED is responsible for creating and delivering the confirmations, collecting them from students, and informing institutions which students completed the acknowledgment process. See Disclosure Requirements.

Student Aid Internet Gateway (SAIG)

A tool that allows Federal Student Aid (FSA) trading partners to securely exchange batch data with FSA applications systems. The Clearinghouse has a designated TG mailbox for SAIG. Our TG mailbox enables the transfer of data back and forth from NSLDS to the Clearinghouse and vice versa. The Clearinghouse has a designated TG mailbox for FVT/GE reporting that is separate from the TG mailbox used for student aid compliance enrollment reporting as part of the NSLDS SSCR Roster Distribution process. See TG Mailbox (Destination Point).

Student Exclusions

A student is not included in the numerator and denominator for the D/E (debt-to-earnings) and EP (earnings premium) calculations if:

• One or more of the student’s Title IV loans are discharged due to total and permanent disability (TPD),
• The student was enrolled full-time in another eligible program at the same or a different institution during the calendar year in which the earnings were assessed,
• The student completed a higher-level undergraduate or graduate program at the institution (depending on whether it was an undergraduate or graduate program),
• The student has died, or
• The student is enrolled in a program that is exempt from GE requirements.

Student Level Reporting (part of the Clearinghouse FVT/GE service)

Required reporting for the FVT/GE federal regulations, referred to as “Student Submittal Reporting” by the NSLDS. * See Program Level Reporting, which is also required.

Student Warnings

An institution must notify current and future students if its GE program might lose eligibility due to debt-to-earnings (D/E) rates or earnings premium (EP) measures for the upcoming academic year.

• If a current or prospective student receives this warning but does not enroll until more than 12 months later, the institution must issue the warning again unless the program has met both D/E rates and EP measures for the last two consecutive years.
• The institution must also translate the student warning into languages other than English for students who have limited English proficiency.

Student Warnings Timing & Delivery

For enrolled students:

• The institution must deliver the notification no later than 30 days after ED issues the determination notice.
• The notification must be provided in writing via hand-delivery, email, or postal mail.
• The notification should be the sole substantive content of the written communication.
• The institution is responsible for maintaining records of its efforts to ensure student warnings are provided as required.

For prospective students:

• The institution must provide a warning to each prospective student (or any third-party acting on their behalf) during the first interaction about the program between the institution and the student/third-party.
• The warning can be delivered in the following ways:
  • Hand-delivery: Present the warning as a separate document in-person, either individually or as part of a group presentation.
  • Email: Send the warning to the primary email address provided by the prospective student. The email should only contain the warning as its substantive content. If the email fails to deliver, use an alternate delivery method.
  • Telephone: Provide the warning orally if the initial contact is by phone.
• The institution must wait at least three business days after delivering the warning before enrolling, registering, or entering into any financial commitment with a prospective student.
• For prospective students seeking Title IV funds, the institution cannot allow them to sign an enrollment agreement, complete registration, commit financially, or receive Title IV funds until they acknowledge viewing the warning on ED’s program information website.

See Notification of Determination.

T

Text tab delimited (TXT)

File format that uses tabs to separate values. The TXT file type (as well as CSV) is a formatting option for Clearinghouse FVT/GE Student Level Reporting and Program Level Reporting.

TG Mailbox (Destination Point)

An electronic mailbox used to send and receive financial aid data through SAIG. The Clearinghouse has a designated TG mailbox for SAIG. Our TG mailbox enables the transfer of data back and forth from NSLDS to the Clearinghouse and vice versa. Clearinghouse has a designated FVT/GE TG mailbox for FVT/GE reporting that is separate from the TG mailbox used for student aid compliance enrollment reporting as part of the NSLDS SSCR Roster Distribution process. See Student Aid Internet Gateway (SAIG).

Total Amount Detail Record (TA)

Part of the student-level report, the TA is used to report students who have received Title IV funds for enrollment in the program being reported and have graduated or withdrawn during the most recently completed award year and prior award years. Prior award years are based on which cohort reporting option is selected, standard or transitional.

Transitional Cohort (Transitional Period)

One of two cohort options for the FVT/GE student-level reporting requirement. The transitional cohort option comprises the last two years of data for both undergraduates and graduates. Once the initial cohort option is selected and used to report student-level data, the institution is locked into this cohort type for the following six years. For the other cohort option, see Standard Cohort (Standard Period).

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*See FSA announcement on updated reporting date.