940 CMR 31.05 - Required Disclosures
(1) It is an
unfair or deceptive act or practice for a school to conceal or fail to disclose
to a prospective student any fact relating to the school or program, disclosure
of which is likely to influence the prospective student not to enter into the
transaction with the school.
(2) It
is an unfair or deceptive act or practice to fail to make the following
disclosure to consumers and prospective students, clearly and conspicuously, at
least 72 hours prior to entering into an enrollment agreement with a consumer
or prospective student:
(a)
Cost
of Program. The total cost of the program is [program
cost].
(b)
Graduation. [Graduation rate] of students graduated
from the program during [the last two calendar years for which data are
available].
(c)
Graduation Time. The average student graduates in
[median completion time].
(3) For any school that accepts federal Title
IV funds, or that provides institutional loans, it is an unfair or deceptive
act or practice for a school to fail to make the following disclosure to
consumers and prospective students, clearly and conspicuously, at least 72
hours prior to entering into an enrollment agreement with such consumer or
prospective student:
(a)
Your Loan
Debt. You must repay money that you borrow as student loans to pay
for this program, including interest. You must repay any portion of the money
you borrow to pay for this program, even if you fail to complete or drop out of
the program. Failure to repay student loans is likely to have a serious
negative effect on your credit, future earnings, and your ability to obtain
future student loans.
(b)
Loan Nonpayment Statistics. [loan nonpayment
percentage] of [school name] students defaulted on, or failed to repay, their
loans during the period [years covered in corresponding federal cohort default
rate used to calculate loan nonpayment rate].
(4) For any occupational program that:
(a) accepts state or federal financing of
student enrollment, either directly or indirectly, in the form of student
loans, grants, or funding, and is required to maintain employment statistics as
a condition of receiving or continuing to receive said state or federal
financing; or
(b) refers in
advertising, recruiting, or promotional materials or statements to employment
prospects or job placement, it is an unfair or deceptive act or practice for a
school to fail to make the following disclosure to consumers and prospective
students, clearly and conspicuously, at least 72 hours prior to entering into
an enrollment agreement with such consumer or prospective student:
1.
Placement Rates.
[Graduate placement rate] of graduates during [latest two calendar years]
obtained full-time, non-temporary jobs in their field of study. [Total
placement rate] of students that enrolled in the program during [latest two
calendar years] obtained full-time, non-temporary jobs in their field of
study.
2.
Employment
Statistics. Employment statistics substantiating these placement
rates are available for inspection on request.
(5) It is an unfair or deceptive act or
practice for a school to obtain personal consumer information, including names,
home or electronic addresses, telephone numbers, or other contact information
from lead generators or website operators that do not clearly and conspicuously
disclose to consumers that their personal information will be provided to
schools.
(6) If a school offers or
requires students to take an examination, certification examination, or similar
test of the students' competence to enter, continue with, or graduate from a
program, or to be certified in a particular occupational field, and the
examination or test is available directly from an outside vendor, it is an
unfair or deceptive act or practice for a school to fail to disclose the actual
cost of such examination or test prior to the time of enrollment.
(7) It is an unfair or deceptive act or
practice for a school to represent to a student or prospective student or to
any other person that its credits are or may be transferable to another
educational institution without:
(a)
identifying the school(s) with which it has written agreements or other
documentation verifying that credits can be transferred to said school(s);
and
(b) indicating it is aware of
no other schools that accept the transfer of its credits.
Notes
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