AAMC Joins Letter Highlighting Challenges With Higher Ed Reporting Requirements

The AAMC joined a Nov. 12 letter with 45 higher education organizations seeking clarification on reporting requirements in the financial value transparency (FVT) and gainful employment regulations(PDF). In October, the Department of Education announced a further delay in the reporting requirement deadline, from Oct. 1, 2024 to Jan. 15, 2025 [refer to Washington Highlights, Sept. 20]. Despite this extension, institutions still face several challenges to meet this deadline because of numerous updates and delays in providing subregulatory guidance. This letter detailed key challenges institutions face to meet this deadline and how, without further delay, the department will receive nonrepresentative data if they maintain the current timeline.

"For most institutions, meeting this deadline would result in errors simply due to the time constraints placed on them by the Department. Students, institutions, and other stakeholders will only be served if the regulation generated accurate, reliable data. It is critical that the Department recognizes the limitations on institutional resources and the impacts of regulatory implementation delays on institutions."

The AAMC submitted comments to the Department of Education in 2023 that raised concerns about the proposed changes(PDF) related to gainful employment and the debt-to-earnings rate, FVT reporting requirements, and the administrative burden on medical education institutions [refer to Washington Highlights, June 23, 2023].