Most schools are familiar with the major consumer information requirements, such as the Net Price Calculator, Entrance and Exit Counseling, and the Clery Act, to name a few. However, as David Bartnicki of the U.S. Department of Education pointed out during the Consumer Information Requirements session at the 2015 NASFAA National Conference, there are a number of less-often-talked-about consumer information requirements that result in compliance problems for schools.
Among the requirements Bartnicki discussed were the annual Family Educational Rights and Privacy Act (FERPA) notification, up-to-date information about academic programs, information about written agreements, transfer of credit policies, copyright infringement policies, textbook information, accreditation, approval and licensure information, graduate school enrollment information, written notice of Federal Student Aid (FSA) penalties for drug law violations, job placement rates, student body diversity information, voter registration requirement, vaccination policy, Pell Grant disbursement policy for purchase of books and supplies, students with disabilities information, Constitution Day program, College Navigator Website, and many, many more!
Consumer Information resources include FSA Assessments and Consumer Information Disclosures At-A-Glance, both on the Information for Financial Aid Professionals (IFAP) website. NASFAA offers Student Consumer Information as part of the 2014 – 15 Self Evaluation Guide. Schools should take advantage of these resources to ensure their consumer information is in compliance.
Publication Date: 8/10/2015