Code of Conduct for Education Loans
Administrator code of conduct: 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 regarding student loans. The Mount Mary University code of conduct prohibits a conflict of interest with the responsibilities of financial aid administrators of the school with the respect of Federal Direct or private education loans. All financial aid administrators with responsibility for loans must be informed annually of the provisions of the code. The code of conduct prohibits the following activities:
- Revenue-sharing arrangements with any lender
- Receiving gifts from a lender, a guarantor or a loan services
- Contracting arrangement providing financial benefit from any lender or affiliate of a lender
- Directing borrowers to particular lenders, or refusing or delaying loan certifications
- Offers of funds for private loans
- Call center or financial aid office staffing assistance
- Advisory board compensation
Student eligibility and responsibilities: Contact the financial aid office to view the financial aid student eligibility and student responsibility policies (PDF).
For questions on Mount Mary’s Code of Conduct for Education Loans, contact the Financial Aid Office.