Hi Tammy:
Frequent and immdeiate are ways for students to on-course correction. When they see corrected mistakes made days later, it loses it's impact. But when they know immediately, that can be used to reinforce the correct information.
Of course, besides sharing grades and status, this gives us an opportunity to encourage, offer support, advice and suggestions, and just show that we care. This will help build trust and respect as well.
Regards, Barry