Triton College Student Loan Code of Conduct
Triton College Student Loan Code of Conduct The Triton College Financial Aid Office has developed a Student Loan Code of Conduct to ensure the Student Loan Program at the college is administered in an honest, ethical and legal manner; and to comply with the requirements of the Higher Education Opportunity Act (HEOA) of 2008, signed into law on Aug. 14, 2008. All Triton College employees who are directly or indirectly involved with the administration of student loans, and officers and agents of the institution, adhere to the following principles:
- Prohibition of Revenue-Sharing
- Triton College will not enter into revenue sharing agreements or arrangements between the college and a lender or vendor that is based on loans being made, insured or guaranteed to students attending Triton College or to families of Triton students. Triton College will not accept gifts from any outside entity in exchange for loan referrals. A gift is defined as any gratuity, favor, discount, entertainment, hospitality, loan or other item having monetary value of more than a nominal amount.
- Prohibition on Contracting Arrangements
- Triton College Financial Aid Office employees (or employees or agents who otherwise have responsibilities with respect to education loans) will not accept from any lender, guarantor or servicer any fee, payment or other financial benefit as compensation for any type of consulting arrangement or other contract to provide services to or on behalf of a lender, guarantor or servicer related to educational loans.
- Prohibition on Offers of Funds for Private Loans
- Triton College will not request or accept from any lender, guarantor or servicer any offer of funds to be used for private educational loans, including a pool of funds to students in exchange for the college providing concessions or promises to the lender, guarantor or servicer for a specific number of loans made, insured, or guaranteed, a specified loan volume, or a preferred lender arrangement. Prohibited financial benefits include but are not limited to revenue sharing, fees, payments, printing costs, cash, gifts, stocks, expenses paid trips, entertainment, lodging, meals or travel costs.
- Gift Restrictions
- Triton College Financial Aid employees are prohibited from soliciting or accepting any gift from a lender, guarantor or servicer of educational loans. Gifts include but are not limited to any cash, gratuity, favor, discount, entertainment, hospitality, loan, stocks, printing costs, expense paid trips or reimbursement for lodging, meals or travel to conferences or training seminars. Training materials are not considered gifts.
- Preferred Lender Lists
- Triton College currently does not utilize a preferred lender list for student educational loans. No lender is given preferred status or is given any advantage in securing potential borrowers. Students and parents are free to select the lending institution of their choice. Triton College will not restrict students from selecting a particular lender, delay certification, or refuse to certify educational loans for students based on the lender or guarantor.
- Advisory Board Compensation Rules
- Triton College Financial Aid employees who serve on an advisory board, commission, or group established by a lender, guarantor or servicer shall not receive any remuneration for such service nor any reimbursement of expenses from same service.
- Staff Assistance
- The Triton College Financial Aid Office shall not request or accept any staffing assistance from any lender, guarantor or servicer.