Student Lending Code of Conduct

We are committed to providing students and families with the best information and processing alternatives available regarding student borrowing. In an effort to rule out any perceived or actual conflict of interest between College officers, employees or agents and education loan lenders, we have adopted the following student lending code of conduct.

Montgomery County Community College:

  • Does not participate in any revenue-sharing arrangements with any lender.
  • Does not permit any College officer, employee or agent who is employed in the Financial Aid office or is otherwise involved in the administration of education loans to accept any gifts of greater than a nominal value from any lender, guarantor or servicer.
  • Does not permit any College officer, employee or agent who is employed in the Financial Aid office or is otherwise involved in the administration of education loans to accept any fee, payment or other financial benefit (including a stock purchase option) from a lender or affiliate of a lender as compensation for any type of consulting arrangement or contract to provide services to a lender or on behalf of a lender relating to education loans.
  • Does not permit any College officer, employee or agent who is employed in the Financial Aid office or is otherwise involved in the administration of education loans to accept anything of value from a lender, guarantor or group of lenders and/or guarantors in exchange for service on an advisory board, commission or other group established by such a lender, guarantor, or group of lenders and/or guarantors.
  • Allows for the reasonable reimbursement of expenses associated with participation in such boards, commissions or groups by lenders, guarantors, or groups of lenders and/or guarantors.
  • Does not assign a lender to any first-time borrower through financial aid packaging or any other means except in the case of Direct Lending.
  • Acknowledges that a borrower has the right to choose any lender from which to borrow to finance his/her education and will not refuse to certify, or otherwise deny or delay certification of, a loan based on the borrower’s selection of a lender and/or guarantor.
  • Will not request or accept any offer of funds to be used for private education loans to students from any lender in exchange for providing the lender with a specified number or volume of Title IV loans or a preferred lender arrangement for Title IV loans.
  • Will not request or accept any assistance with call center or financial aid office staffing from lenders or guarantor agencies.

 

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