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What's the legality of accredited learning courses with designatory letters?

Browsing the internet, i note loads of companies that offer accredited courses and call themselves an Institute, Faculty or Open Learning (Distance Learning) College. Such companies also state that if you complete one of their courses you are entitled to use the designatory letters after your name (usually either Dip.BA - for a Diploma in Business Administration or M.PMUI - Member of Pathetically Made Up Institute). Are such Diplomas and designatory letters legal and is is legal? or do these colleges/institutes have to be accredited by the Open Distance Learning Quality Council?

Public Comments

1. There is no international law regarding selling or using academic titles, although there are several international agreements (e.g. the Bologna agreement). - Is it legal to call yourself "university", "college" etc.? In some countries it is illegal to call yourself "college", etc. without any permission from the government; and it is not legal either to grant degrees, even if the titles are fake. In other countries it might be partially legal, which is what these places use (or use names like "academy", etc.) - Is it legal to carry a title from such an institution? It again depends in which country and what kind of title. If you use a title which is clearly bogus (or used only by that institution), it might be your own problem. However, if you try to obtain some prieveldges out of it (higher salary becuse you have a degree, etc.) this could be fraud and illegal. You can read more about it here: http://homemadedegrees.blogspot.com/search/label/bogus%20degrees