Code of Conduct Governing Educational Loan Activities | Code of Conduct

Code of Conduct Governing Educational Loan Activities

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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