Code of Conduct for Education Loans
The Higher Education Opportunity Act (HEOA) requires educational institutions to develop and comply with a code of conduct that prohibits a conflict of interest for financial aid personnel [34 CFR 668.14(b)(27)]. Any ACTC officer, employee or agent who has responsibilities with respect to student educational loans must comply with this code of conduct and be informed annually of the provisions of the code.
Ashland Community & Technical College has no preferred lender agreement with any lender of private educational loans and as such no officer or employee of the College shall engage in the practice of recommending, promoting, or endorsing private education loans for students attending the College.
Financial aid personnel, ACTC officer, employee, or agent shall not enter into any revenue sharing arrangements with any lender.
No employee of Ashland Community & Technical College who is employed in the financial aid office or who otherwise has responsibilities with respect to education loans, or agent who has responsibilities with respect to education loans, or any of their family members, shall solicit or accept any gift from a lender, guarantor, or servicer of education loans.
An employee of Ashland Community & Technical College who is employed in the financial aid office or who otherwise has responsibilities with respect to education loans, or an agent who has responsibilities with respect to education loans, shall not accept from any lender or affiliate of any lender any fee, payment, or other financial benefits as compensation for any type of contracting agreement.
Ashland Community & Technical College shall not direct borrowers to particular lenders or refuse to certify, or delay certification of any loan based on the borrower’s selection of a particular lender or guarantee agency.
Ashland Community & Technical College shall not request or accept from any lender any offer of funds to be used for private education loans.
Ashland Community & Technical College shall not request or accept from any lender any assistance with financial aid call center staffing.
Any Ashland Community & Technical College employee who is employed in the financial aid office or who otherwise has responsibilities with respect to education loans or other student financial aid, and who serves on an advisory board, commission, or group established by a lender, guarantor, or group of lenders or guarantors, shall be prohibited from receiving anything of value from the lender, guarantor, or group of lenders.
Revised 01/22/2020
