While the negotiations over the debt ceiling limit are getting all the attention in Washington, the U.S. Department of Education last week released more than 1,000 pages of proposed regulations, and provided only a 30-day comment period. The regulations cover topics including consumer information on the financial value of programs, career services at institutions, financial aid information, and transition plans for colleges at risk of closure.
An unofficial copy of the proposed regulations was released on Wednesday and the official proposed rules are now in the Federal Register. This is a significant and highly technical proposal with only a 30-day comment period.
The Department provided fact sheets on the financial aid transparency parts of the rules as well as the other provisions in the regulatory package.
And we’re still waiting for the substantial Title IX revisions regarding sexual assault and the Department of Labor’s “overtime rule” that dictates the threshold for overtime eligibility. Right now, that level is set at $35,568. Under scrutiny may be the “teacher exemption” which exempts faculty and coaches from the overtime rule. Any substantial increase the salary threshold or elimination of the teacher exemption would impose overwhelming financial burdens on colleges and universities.
SCICU Business Partner spotlight — May 2023