Section 487 (a)(25)(A) of the Higher Education Act requires schools who participate in Title IV loan programs to develop, administer, and enforce a code of conduct governing educational loan activities. The code of conduct shall prohibit a conflict of interest between the responsibilities of an officer, employee, or agent of the school and financial institutions with respect to such loans.

  • Midwestern Career College code of conduct prohibits the following:
  • Revenue-sharing arrangements with any lender
  • Receiving gifts from a lender, guarantor, or loan services
  • Contracting arrangement providing financial benefit from any lender or affiliate of a lender
  • Directing borrowers to particular lender(s), or refusing or delaying loan certifications
  • Offer of funds for private loans
  • Call center or financial aid office staffing assistance
  • Advisory board compensation

 

 

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