CODE OF CONDUCT FOR EDUCATIONAL LOANS
The Higher Education Opportunity Act of 2008 (HEOA) requires that institutions participating in the federal student loan programs develop, publish and enforce a code of conduct with respect to student loans.
Rockford University participates in the William D. Ford Federal Stafford Loan Program. Loans offered through this program are the Federal Subsidized and Unsubsidized Loans for students, the PLUS Loan for parents of dependent students and the Grad PLUS Loan for graduate students. Rockford University is committed to the highest standard of ethics and conduct and has adopted the following Code of Conduct by which all loan programs directly administered by the Office of Student Administrative Services (SAS) must adhere.
Revenue Sharing
Rockford University prohibits all SAS employees from any revenue-sharing arrangements with any lender, guarantor or servicer. Rockford University prohibits all SAS employees from promoting or recommending any product from said lender, guarantor or servicer.
Gifts
Rockford University prohibits any SAS 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
Rockford University prohibits any SAS employee from accepting compensation for serving on a board of directors of a lender, guarantor or servicer.
Preferred Lender Lists
Rockford University allows students the freedom to choose any private loan lender and 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
Rockford University 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
Rockford University prohibits any SAS 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
Rockford University and the Office of Student Administrative Services will not accept any offer from a lender, guarantor or servicer for staffing assistance within said office.
This Code of Conduct will be the policy by which the Office of Student Administrative Services will conduct their student loan programs.
