Should Schools Have a Facebook Page?

As the developer responsible for my employer’s website (a technical school for high school students and adults) I was also made responsible for creating and cultivating membership to the school’s Facebook page.  Our school is different from a high school in that we aren’t guaranteed enrollment from year-to-year, and so we’re constantly looking to improve our marketing. Facebook was the perfect candidate, but what was initially viewed as a great marketing and communications tool is quickly devolving into an administrative mess.

Should I disable commenting, image, and video posting?  Should our school even have a Facebook page at all?  Facebook is by nature very open and everyone from our Quality Management Team to our instructors to our Administrative director find something wrong with just about every comment posted, whether it be an inappropriate tone or improper grammar.  Policing the page takes no small amount of time an effort.  Disabling the interactive features of the page defeats the purpose of having it.

What do you think?  Should a school have a Facebook page and, if so, how should it be regulated?