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B-335918 Feb 08, 2024 1 (2024-02-08)

handle is hein.gao/gaopvu0001 and id is 1 raw text is: G U.S. GOVERNMENT ACCOUNTABILITY OFFICE 441 G St. N.W. Washington, DC 20548 B-335918 February 8, 2024 The Honorable Bernard Sanders Chairman The Honorable Bill Cassidy Ranking Member Committee on Health, Education, Labor, and Pensions United States Senate The Honorable Virginia Foxx Chairwoman The Honorable Bobby Scott Ranking Member Committee on Education and the Workforce House of Representatives Subject: Department of Education: Financial Responsibility, Administrative Capability, Certification Procedures, Ability to Benefit (A TB) Pursuant to section 801(a)(2)(A) of title 5, United States Code, this is our report on a major rule promulgated by the Department of Education (ED) titled Financial Responsibility, Administrative Capability, Certification Procedures, Ability to Benefit (ATB) (RINs: 1840-AD51, 1840-AD65, 1840-AD67, and 1840-AD80). We received the rule on January 24, 2024. It was published in the Federal Register as final regulations on October 31, 2023. 88 Fed. Reg. 74568. The effective date is July 1, 2024. According to ED, this final rule amends the regulations implementing title IV of the Higher Education Act of 1965, as amended (HEA), related to financial responsibility, administrative capability, certification procedures, and ability to benefit (ATB). See generally Pub. L. No. 89-329, title IV, 79 Stat. 1219, 1232 (Nov. 8, 1965). ED stated that it amended the financial responsibility regulations to increase its ability to identify high-risk events at institutions of higher education and require financial protection as needed. ED also stated that it amended and added administrative capability provisions to enhance the capacity for institutions to demonstrate their ability to continue to participate in the financial assistance programs authorized under title IV of the HEA (title IV, HEA programs). ED stated further that it amended the certification procedures to create a more rigorous process for certifying institutional eligibility to participate in the title IV, HEA programs. Finally, ED stated that it amended the ATB regulations related to student eligibility for non-high school graduates. Enclosed is our assessment of ED's compliance with the procedural steps required by section 801(a)(1)(B)(i) through (iv) of title 5 with respect to the rule. If you have any questions about this report or wish to contact GAO officials responsible for the evaluation work relating to

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