Ban on Revenue-Sharing Arrangements
The University shall not enter into any revenue-sharing arrangement with any lender or other vendor working with any of its financial aid offices. The University shall not accept any fee or other material benefit in exchange for recommending a lender to its students.
No University officer or employee with financial aid responsibilities shall solicit or accept a gift having a monetary value of more than a de minimus amount from a lender, guarantor, or servicer of education loans.
Contracting Arrangements Prohibited
No University officer or employee with financial aid responsibilities shall accept from any lender or lender affiliate payment or other financial benefit as compensation for any type of consulting arrangement or other contract to provide services to a lender.
Interaction with Borrowers:
The University shall not automatically assign a particular lender to any borrower, and shall not refuse to certify or delay certification of any loan based on the lender or guarantee agency selected.
Prohibition on Offers of Funds for Private Loans
The University shall not request or accept from a lender an offer of funds to be used for private education loans in exchange for the University providing the lender with a specified number or volume of federal loans or in exchange for placement on a preferred lender list.
Ban on Staffing Assistance
The University shall not request or accept from any lender assistance with call center staffing or financial aid office staffing. Lenders, however, may provide professional development training to financial aid administrators, educational advising materials to borrowers, or assistance in state or federally-declared natural disasters.
Advisory Board Assistance
All employees with financial aid responsibilities shall be prohibited from receiving anything of value from a lender or guarantor in return for service on its advisory board. Reimbursement for reasonable expenses incurred in connection with such service, however, is permitted.