Institutional Code of Conduct for Education Loans
Employees and officials will not solicit or accept gifts, cash or other payments from any lender, guarantor, or servicer. The term "gift" means any gratuity, favor, discount, entertainment, hospitality, loan or other item having a monetary value of more than $10.00. This ban does not include the following:
- Brochures or training material related to default aversion or financial literacy.
- Food, training or information materials that contributes to the professional development of individuals attending the training.
- Entrance and exit counseling that does not promote the services of a specific lender.
- Philanthropic contributions from a lender, guarantor or servicer unrelated to education loans.
- State education, grants, scholarships or financial aid funds administered by or on behalf of the state.
If the College develops and publishes a list of recommended or preferred lenders ("recommended lender list"), the College will do so based solely on the best interests of student and parent borrowers. The College will prominently disclose on all publications of a recommended lender list:
- The process and criteria by which the list was assembled.
- Comparative information regarding interest rates and other benefits offered by the Lenders.
- Borrowers have the right and ability to select lenders not included on the list.