Truett McConnell University’s employees are required to comply with the following code of conduct set by the Higher Education Opportunity Act with regard to participation in Title IV programs that prohibits conflict of interest for financial aid personnel and those who have responsibilities with respect to educational loans [HEOA § 487(a)(25)]. In compliance with federal law Truett McConnell University agrees to follow these specific policies [HEOA § 487(e)].
- Truett McConnell University as an institution or the individual representatives and employees, officers or agents shall not enter into revenue-sharing arrangements with any lenders; revenue-sharing means that the institution recommends a lender to a student or family in order to profit from the lender individually or as an institution.
- No officer or employee of Truett McConnell University who has responsibilities with respect to education loans, or any of their family members, shall solicit or accept any gift, gratuity, favor, discount, entertainment, hospitality, loan, or other item having a monetary value of more than $10, from a lender, guarantor, or servicer of education loans.
- No officer or employee of Truett McConnell University who has responsibilities with respect to education loans, shall 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.
- Truett McConnell University will not for any first-time borrower, assign a student loan to a particular lender without the borrower’s request, or refuse or delay certification of a loan based on the lender that the borrower chose.
- Truett McConnell University will not request or accept any funds to be used for private education loans, including funds for an opportunity pool loan, from a lender for students in exchange for the institution providing privileges or promises regarding providing the lender with a specified number of loans made, insured, or guaranteed under Title IV; a specified loan volume of such loans; or a preferred lender arrangement for such loans.
- Truett McConnell University will not solicit or accept any assistance with call center staffing or financial aid office staffing from any lenders.
- Any employee who has responsibilities with respect to education loans or other student financial aid, and who serves on an advisory board, commission, or group established by a lender, guarantor, or group of lenders or guarantors, are barred 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 while serving on the advisory board, commission, or group.