The Education Marketing Council published a series of best practices back in 2010. The practices cover the following topics:
1) Recommended language for marketing
2) Affiliate management
3) Phone marketing
4) Direct mail marketing
I think the guidelines are a good start for compliance within the industry but I also think they need to be more dynamic and continue to be refined as new sources of media become available. My suggestion to the council is to append these guidelines every 1-2 months.
I also think the marketing council should put together a training course for media buyers and potentially affiliates to get certified on these guidelines.