There are a variety of factors that may impact a school's need verify its admissions representatives provide prospective students with the required disclosures - to gain peace of mind, it is mandated by a regulatory agency, or it is required for accreditation purposes.
The regulators may conduct a "sting" operation using secret shoppers to determine if a school's practices are compliant, truthful, and fair. Therefore, many schools seek to mitigate the potential for any misrepresentation issues and accusations of deceptive practices that may come into play when presenting information to prospective students.
Monitoring of disclosure requirements by admissions should include the following:
As evidenced by the recent enforcements regarding unfair and deceptive sales practices, failure to provide prospective students with the required, accurate disclosures can result in severe penalties. With the active regulatory environment surrounding career colleges and private sector schools, it is important for schools to ensure the disclosure made to prospective students are complete and accurate. Improper disclosures brings threat of loss of accreditation, financial penalties levied by regulatory bodies, and even the possibility of PR damage to your school. The effects of negative publicity can be worse for a company long-term than the fine.
Our experts understand the impact these requirements can have on your admissions team and third parties. We will bring the manpower and procedural expertise to your school regarding these issues.
Failure to comply with relevant requirements can have a devastating impact on your school. Don’t take chances - let our experts help! CompliancePoint has a variety of services that you can leverage to meet your admissions compliance needs.