Federal Student Aid has published important guidance on Financial Value Transparency and Gainful Employment (FVT/GE) reporting and the transition to the new Student Tuition and Transparency System (STATS).
The announcement addresses three key areas: delinquent FVT/GE reporting from the 2024 and 2025 cycles, requirements for the current 2026 reporting cycle, and the option to early implement certain STATS reporting provisions.
More Than 1,900 Institutions Identified With Delinquent Reporting
One of the most significant items in the announcement is FSA’s finding that more than 1,900 institutions have not reported or have under-reported required FVT/GE data for the 2024 and 2025 reporting cycles.
Institutions that have not submitted all required data for these cycles are now considered delinquent and have until January 15, 2027, to submit missing information.
To help institutions identify potential gaps, FSA included a spreadsheet with the announcement showing which award years and FVT/GE files each institution previously submitted and which files appear to be missing.
However, institutions should not assume that being listed as having submitted a file means their reporting is complete. FSA specifically notes that the spreadsheet only identifies whether a file was submitted, not whether the information within the file was complete or accurate.
Institutions should therefore review both the spreadsheet and their previous submissions. FSA indicated that it intends to examine the completeness of submissions in the future and warned that incomplete or inaccurate reporting may raise concerns about an institution’s administrative capability to continue participating in the Title IV programs.
FSA states that no further extensions will be granted. Institutions that do not submit all required information by the deadline could face fines, sanctions, or other actions.
2026 FVT/GE Reporting Due October 1
Institutions must also complete the current FVT/GE reporting cycle by October 1, 2026.
The 2026 reporting cycle covers the 2025–26 award year and requires:
- A Program File for the 2025–26 award year
- A Student File containing Annual Amount records for 2025–26
- A Student File containing Total Amount records for 2025–26
FSA encourages institutions to submit their data at least one week before the deadline to provide time to identify and correct errors. A submission is not considered complete until all errors have been resolved.
Early Implementation of STATS Is a Reporting Change, Not Accountability Relief
For the 2026 reporting cycle only, institutions have the option not to report certain FVT/GE data elements that were eliminated under the new STATS and Earnings Accountability regulations.
If an institution excludes one or more of these optional fields, FSA will consider that action an election to early implement the new STATS reporting requirements.
Importantly, early implementation affects reporting requirements only.
FSA makes clear that choosing to early implement STATS does not affect any other regulatory requirements. It does not change whether an institution will be subject to the new earnings premium measure beginning July 1, 2027, nor does it change the consequences associated with failing that measure.
Institutions reporting delinquent data for the 2024 or 2025 cycles must still report all data elements required for those prior cycles, including fields that became optional for 2026.
Upcoming Deadlines
Institutions have two important deadlines ahead:
- October 1, 2026: 2026 FVT/GE reporting
- January 15, 2027: Delinquent or incomplete 2024 and 2025 FVT/GE reporting
If an institution is unable to meet all applicable reporting requirements by either deadline, it must submit a statement to the Secretary explaining why it failed to comply. The statement must be sent to ReportingSTATS@ed.gov before the applicable reporting deadline and should include the institution’s six-digit OPEID, institution name, and affected reporting cycle or cycles in the subject line.
FSA Virtual Office Hours
FSA will hold virtual office hours on September 10, 2026, from 3:00 to 4:00 p.m. Eastern Time to answer operational questions about FVT/GE and STATS reporting. Institutions can register to attend the event here: Registration Link.
Institutions may submit questions in advance to ob3schoolquestions@ed.gov by September 2, 2026. A recording will also be made available through the FSA Training Center.
FVT/GE and STATS Data Will Be Published in 2027
Institutions should also be aware that their reported data will ultimately become more visible.
ED intends to publish data and statistics derived from FVT/GE and STATS reporting in 2027. Draft data will be released first, providing institutions an opportunity to review the information before it is finalized. Final data and statistics will then be published later in the year.
Beginning in 2028, ED expects its annual publication to be based solely on STATS data.
What Institutions Should Do Now
Institutions should review GENERAL-26-49 carefully and, in particular, check FSA’s attached spreadsheet to determine whether any 2024 or 2025 reporting appears to be outstanding. Schools should also review previously submitted files for completeness and accuracy rather than relying solely on the spreadsheet’s indication that a file was received.
Institutions should begin preparing their 2026 Program and Student Files now, determine whether they will take advantage of the optional reporting relief associated with early implementation of STATS, and plan to submit well ahead of the October 1 deadline to allow sufficient time for error resolution.
We can help
If your institution needs assistance reviewing prior FVT/GE submissions, addressing delinquent reporting, preparing for the 2026 reporting deadline, or understanding the transition to STATS and Earnings Accountability requirements, College Aid Services provides training and Title IV compliance consulting support. Contact us to discuss how we can assist you.