Institutional Code of Conduct for Educational Loans
Alaska Christian College has participated in an FSA loan program, and has published and enforced a code of conduct that includes bans on:
- Revenue sharing arrangements with any lender
- Steering borrowers to particular lenders or delaying loan certifications
- Offers of funds for private loans to students in exchange for providing concessions or promises to the lender for a specific number of FSA loans, a specified loan volume, or a preferred lender arrangement.
- The code of conduct applies to the officers, employees, and agents of the school and must also prohibit employees of the financial aid office from receiving gifts from a lender, guaranty agency or loan servicer.
- The code must also prohibit financial aid office staff (or other employees or agents with responsibilities with respect to education loans) from accepting compensation for:
- Any type of consulting arrangement or contract to provide services to or on behalf of a lender relating to education loans
- Service on an advisory board, commission, or group established by lenders or guarantors, except for reimbursement for reasonable expenses.