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Code of Conduct for Student Loans

In compliance with Title IV, Part A, Section 493(e) of the 2008 Higher Education Opportunity Act, as amended, Illinois College adopts the following Student Loan Code of Conduct.

The College and its employees in the Student Financial Services Office or with responsibilities with respect to education loans will not:

  1. Engage in any revenue-sharing arrangement with a student lending institution;
  2. Accept, on his or her behalf, a gift of more than de minimus value from a student lending institution;
  3. Accept from any lender, or affiliate of any lender, any fee, payment, or other financial benefit 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;
  4. Assign the loan of a first-time borrower to a particular lender or refuse to certify, or delay certification, of any loan based on the borrower’s selection of a particular lender or guaranty agency;
  5. Request or accept from any lender any offer of funds to be used for private education loans, 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, a specified loan volume, or preferred lender arrangements for such loans;
  6. Request or accept from any lender any assistance with Student Financial Services office staffing;
  7. Accept anything of value from a lender or guarantor in exchange for service on an advisory board with the exception of reimbursement for reasonable expenses with regard to such services.