ASUMH Student Loan Code of Conduct
The purpose of the federal student loan program is to provide the best possible loan terms for students and parents who borrow to help finance higher education. ASUMH students and families receive trustworthy, reliable guidance from our institution about financial aid. The following guidelines are a framework to provide the best possible loan servicing for the students served by ASUMH and to avoid conflicts or the appearance of conflicts of interest.
- ASUMH is prohibited from receiving anything of value from any lending institution in exchange for any advantage sought by the lending institution. This prohibits any inappropriate financial arrangements between lenders and the university and specifically prohibits “revenue sharing” arrangements.
- ASUMH employees are prohibited from accepting anything of more than nominal value from any lending institution. This includes a prohibition for financial aid officers and other university officials from trips, catered meals, golf outings, etc. paid for by lenders.
- Financial Aid personnel do not participate on lender advisory boards, but may certainly discuss student loan services and products for ASUMH students and parents with lenders.
- ASUMH does not provide any list of lenders. Anyone seeking advice about borrowing are first advised to seek other sources of educational assistance. General benefits and disadvantages of borrowing from Federal and non-Federal sources are discussed. ASUMH refrains from gathering further information from non-Federal loan sources.
- A borrower's choice of a lender will not be denied, impeded, or unnecessarily delayed by the institution.
- ASUMH must ensure that employees of lenders never identify themselves to students as employees of the university. No employee of a lender may ever work in or provide staffing assistance to the university’s financial aid office.
- ASUMH Departments and affiliated organizations should not enter into any contractual preferred student loan consolidation arrangement with any lender, servicer or guarantor.
- ASUMH employees with education loan responsibilities are informed annually of the provisions of this code of conduct.
- ASUMH Office of Scholarships and Financial Aid must affirm that they have not purchased stocks or been given stocks from banks that provide student loans to ASUMH students.