In compliance with federal regulations, Emmanuel College enforces the following code of conduct for educational loans. This code applies to all officers, employees, and agents of the College, including those in the Office of Student Financial Services, to prevent conflicts of interest in student loan practices:
Prohibition on Revenue Sharing
Emmanuel College will not engage in revenue-sharing arrangements with any lender, where the College receives any form of compensation from the lender based on the volume of loans originated.
Lender Steering
The College will not steer borrowers to specific lenders nor delay the certification of loans based on the borrower's selection of a lender.
Ban on Private Loan Funds in Exchange for Favors
The College will not accept offers from any lender for private loan funds in exchange for a commitment to provide a certain number of federal loans or maintain a preferred lender arrangement.
Gifts and Compensation
No employee involved in the administration of educational loans will solicit or accept gifts from a lender, guarantor, or loan servicer, including travel or entertainment valued beyond minimal thresholds.
Prohibition on Consulting and Contracting
Financial Aid staff and other employees with loan-related responsibilities may not accept compensation from lenders for consulting or for serving on advisory boards, with the exception of reimbursement for reasonable expenses directly related to participation in lender boards or meetings.
Advisory Boards and Committees
Employees involved in loan administration cannot receive compensation for serving on lender-established boards unless the involvement is related to public service, or reimbursement for expenses is reasonable