Code of Conduct

Northern Oklahoma College

Employee Code of Conduct Regarding Student Loans

 

1.       Northern Oklahoma College shall not enter into any revenue sharing arrangement with any student loan lender.

2.       No officer or employee of the institution who is employed in the financial aid office of the institution or who otherwise has responsibilities with respect to education loans shall solicit or accept any gift from a lender, guarantor or servicer of educational loans.  The term “gift” means any gratuity, favor, discount, entertainment, hospitality, loan or other item having a monetary value of more than a nominal amount.

3.       An officer or employee who is employed in the financial aid office of the institution or who otherwise has responsibilities with respect to education loans shall not accept from any lender or affiliate of any lender any fee, payment, or other financial benefit (including the opportunity to purchase stock) as compensation for any type of consulting arrangement or other contract to provide services to a lender or on behalf of a lender relating to education loans.

4.       The institution shall not for any first time borrower, assign, through award packaging or other methods, the borrower’s loan to a particular lender or refuse to certify, or delay certification or any loan based on the borrower’s selection of a particular lender or guaranty agency.

5.       The institution shall not request or accept from any lender any offer of funds to be used for private education loans to students in exchange for the institution providing concessions or promises regarding providing the lender with a specified number of loans made, a specified loan volume, or a preferred lender arrangement for such loans.

6.       The institution shall not request or accept from any lender any assistance with call center staffing or financial aid office staffing.

7.       Any employee who is employed in the financial aid office of the institution or who otherwise has responsibilities with respect to education loans or other student financial aid of the institution 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 or guarantors except that the employee may be reimbursed for reasonable expenses incurred in serving on such advisory board, commission, or group.