According to the most recent reports from the U.S. Department of Education, almost half of the top 10 program review findings are consumer information violations. Fines can exceed $30,000 per violation, and that means the cost of non-compliance can be extreme. Our Consumer Information Assessment can help you avoid fines and penalties by providing a confidential, comprehensive peer review of all required disclosure and reporting requirements.
Student Consumer Information has been the sole focus of many recent program reviews. There are more than forty different policies and disclosures that must be made to students, either on your school’s website or in other publications such as the school catalog or student handbook.
Many of these disclosures must be updated and distributed to students annually. Additionally, schools must report data to the U.S. Department of Education each year to stay in compliance, including: IPEDS, FISAP, Teacher Preparation, Campus Crime Statistics, Intercollegiate Athletic Program Participation Rates, Gainful Employment and information about student outcomes such as graduation, retention and placement rates.
Assessing your institution’s compliance with consumer information disclosure and reporting requirements can help you stay ahead of problems while ensuring that current and prospective students as well as the public at large have all of the information they need to make informed decisions about your school.
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Institutions with questions about Title IV and compliance with Federal Regulations related to Federal Student AId Programs are welcome to contact our office for assistance.