Code of Conduct for Student Loans

Code of Conduct for Student Loans

Hastings College participates in the William D. Ford Federal Stafford Loan Program. Loans offered through this program are the Federal Direct Subsidized and Unsubsidized Loans and the parent’s Direct PLUS. 

Hastings College also participates in the Perkins loan program. In addition to the federal loan programs, students may apply to private alternative loans through private banks and agencies. Students must apply directly to these entities for additional loan funding. 

In compliance with the 2008 Higher Education Opportunity Act, Hastings College has established a Code of Conduct by which all loan programs directly administered by the Office of Student Financial Aid must adhere.

Revenue Sharing

Hastings College prohibits all Student Financial Aid employees from revenue-sharing arrangements with any lender, guarantor or servicer.

Hastings College prohibits all Student Financial Aid employees from promoting or recommending any product from said lender, guarantor or servicer.

Gifts

Hastings College prohibits any Student Financial Aid employee from accepting or soliciting any gifts from a lender, guarantor or servicer.  The term “gift” is defined as any gratuity, favor, discount, entertainment, hospitality, loan or other items valued at more than a de minimus amount.  This also includes any services, transportation, lodging, or meals, whether provided in kind, by purchase of a ticket, payment in advance or by reimbursement.

Contracting Arrangements

Hastings College prohibits any Student Financial Aid employee from accepting compensation for serving on a board of directors of a lender, guarantor or servicer.

Preferred Lender Lists

Hastings College allows students the freedom to choose any private loan lender.  Hastings College does not assign a specific lender nor will we prohibit or delay a certification based on the student’s choice.

Offers of Funds for Private Loans

Hastings College prohibits acceptance of offers of funds for private loans including funds for opportunity pool loans from any lender, guarantor or servicer in return for special concessions toward a lender, guarantor or servicer.

Advisory Board Compensation

Hastings College prohibits any Student Financial Aid employee from accepting any form of compensation from a lender, guarantor or servicer for serving on an advisory board, commission or other group established by such lender, guarantor or servicer or a group of lenders/guarantors.

Staffing Assistance

The Office of Student Financial Aid will not accept any offer from a lender, guarantor or servicer for staffing assistance within said office.