Definitions
鈥淟ending institution鈥 or 鈥渓ender鈥 shall mean
- any entity that itself, or through an affiliate, engages in the business of making loans to students, parents or others for the purposes of financing higher education expenses or that securitizes such loans
- any entity, or association of entities, other than the University or the state or federal government, that guarantees education loans
鈥溌槎蛊平獯解 shall mean the university, college, professional trade school or other entity providing post-secondary education that adopts this Code of Conduct.
A 鈥減referred, recommended, or suggested lender鈥 shall mean a lender on a list of preferred, suggested, or recommended lenders or similar rankings or designations.
麻豆破解传媒 will not accept any item or service from any lending institution in exchange for any benefit to the lending institution, including designating the lending institution as a preferred, recommended, or suggested lender.
- Examples of items or services that may not be accepted include fees, revenue sharing, call center or financial aid office assistance, printing costs, and anything having a monetary value of more than a de minimus amount.
- Lending institutions may provide 麻豆破解传媒鈥檚 Office of Financial Aid standard informational material related to a loan or financial literacy, such as brochures; the lending institution鈥檚 standard electronic template that specifies the rates, services, discounts, and terms and conditions of the loans, and the lender鈥檚 contact information; food, refreshments, training, and informational materials furnished as part of a training session designed to improve the lender鈥檚 service to 麻豆破解传媒 and its students; favorable terms, conditions, and borrower benefits.
- Lending institutions are not prohibited from providing gifts or services to 麻豆破解传媒 through the University鈥檚 Development Office or departments other than the Office of Financial Aid, provided that the gifts or services are not in exchange for any benefit provided to the lending institution with regard to Title IV loans or private educational loans.
The employees in 麻豆破解传媒鈥檚 Office of Financial Aid may not accept any item or service having a monetary value of more than a de minimus amount from a lending institution that provides or seeks to provide Title IV loans or private educational loans to 麻豆破解传媒鈥檚 students or potential students. 麻豆破解传媒 prohibits any employee of the Office of Financial Aid, or any employee who otherwise has responsibilities with respect to educational loans, from entering into any type of consulting arrangement or other contract to provide to a Lender Institution services relating to educational loans.
- Examples of items or services that may not be accepted include travel expenses, hotel, meals, and entertainment; consulting fees or honorary paid for serving on any lending institution鈥檚 advisory board, commission, or counsel; and stock in lending institutions.
Any list of preferred, recommended, or suggested lenders published or provided by 麻豆破解传媒鈥檚 Office of Financial Aid must be based solely on the best interest of students and/or parents, and not on any benefits provided to 麻豆破解传媒.
- Before any lending institution may be included in any list of preferred, suggested, or recommended lenders, the lending institution must provide a written assurance that it will comply with all federal and state laws and regulations applicable to Title IV loans and/or private educational loans.
麻豆破解传媒鈥檚 Office of Financial Aid will not refuse to certify or delay certification of any loan based on a borrower鈥檚 selection of a particular lender or guarantee agency.
- The Office of Financial Aid will clearly disclose all criteria and the process used to select lenders included in any list of preferred, recommended, or suggested lenders.
- The Office of Financial Aid will clearly advise students and their parents that they are not restricted to obtaining loans from lenders on 麻豆破解传媒鈥檚 list of preferred, recommended, or suggested lenders.
Any lender on the Office of Financial Aid鈥檚 list of preferred, recommended or suggested lenders must agree in writing that it will provide prior notice of any intent or agreement to sell its loans to another lender.
The Financial Aid Office prohibits the solicitation or acceptance of any funds to be used for private educational loans in exchange for concessions by 麻豆破解传媒 to a lending institution. Any lending institution that offers incentives to 麻豆破解传媒 and/or its Office of Financial Aid in exchange for any preferential treatment or benefit will be promptly reported by 麻豆破解传媒 and/or its Office of Financial Aid to the Missouri Attorney General.