FTC Warns For-Profit Colleges Against Making False Claims: Includes those that teach collision repair.

The Federal Trade Commission (FTC) issued notices to 70 for-profit higher education institutions this week, warning them that false claims regarding students' potential earnings post-graduation would be met with severe financial penalties. False claims would include misrepresenting the opportunities available for students after their graduation, a guarantee of a level of salary in future careers, and misrepresenting the percentage of former graduates who go on to find employment, among others.

The FTC clarified that the institutions issued warnings were not being accused of any previous wrongdoing. However, any future violations could incur a financial penalty of more than $40,000 per offense.

Among the list of institutions warned were Lincoln Technical Institute, a collision repair and refinishing school that operates across six states, and Universal Technical Institute, a collision instruction facility operating in Texas.

To read the Federal Trade Commission press release about this issue, click here.