LCCC Staff Code of Conduct
- The institution will not enter into any revenue-sharing arrangement with any lender.
- No officer or employee of the institution who is employed in the financial aid office of the institution or who otherwise has responsibilities with respect to education loans, or agent who has responsibilities with respect to education loans, will solicit, or accept any gift from a lender, guarantor or servicer of education loans.
- An officer or employee who is employed in the financial aid office of the institution or who otherwise has responsibilities with respect to education loans, or any agent who has responsibilities with respect to education loans, will not accept from any lender or affiliate of any lender any fee, payment or other financial benefit (including the opportunity to purchase stock) as compensation for any type of consulting arrangement or other contract to provide services to a lender, or on behalf of a lender, relating to education loans.
- The institution shall not request or accept from any lender any offer of funds to be used for private education loans (as defined in section 140 of the Truth in Lending Act) including funds for an opportunity pool loan, to students, in exchange for the institution providing concessions or promises regarding providing the lender with:
- a specified number of loans made, insured or guaranteed under this title;
- a specified loan volume of such loans; or
- a preferred lender arrangement for such loans.
- The institution will not request or accept from any lender any assistance with call center staffing or financial aid office staffing.
- Any employee who is employed in the financial aid office of the institution, or who otherwise has responsibilities with respect to education loans or other student financial aid of the institution, and who serves on an advisory board, commission or group established by a lender, guarantor or group of lenders or guarantors, shall be prohibited from receiving anything of value from the lender, guarantor or group of lenders or guarantors, except that the employee may be reimbursed for reasonable expenses incurred in servicing on such advisory board, commission or group.
