Institutional Code of Conduct for Education Loans | Financial Aid
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Institutional Code of Conduct for Education Loans

Relationships with lenders

Officers, employees and agents of Redstone College, in dealing with lenders providing financial aid to our students, must comply with the following Code of Conduct provisions:

    • You must avoid creating any relationship with any lender that would constitute a conflict of interests, as defined in the Code;
    • Neither you nor any member of your family can accept a “gift” from a lender, broadly defined to include any gratuity, favor, discount, entertainment, hospitality, loan or other item worth more than de minimus amount;
    • You may not accept any compensation from any lender or affiliate of any lender for any reason;
    • You may not establish any revenue sharing arrangement with any lender;
    • You must provide students with a choice of lenders, which includes lenders Alta may designate as “preferred,” and you may not direct or assign students to a particular lender. You must also allow students to use the lender of their choice even if it is not on the choices you provide to the student:
    • You may not request or accept any call center staffing or financial aid back office services from any lender;
    • You may not request or accept private education loan funds in exchange for guaranteeing volume or number of loans or preferred lender arrangements to any lender; and,
  • You may not accept anything of value, except for reasonable expense reimbursement, for service on an advisory board, commission, committee or group established by any lender or guarantor.