REINHARDT COLLEGE CODE OF CONDUCT
Reinhardt College offers student and/or parent loans under the United States Department of Education Title IV Federal Family Education Loan Program. Reinhardt College is committed to an environment of uncompromising integrity and ethical conduct with regard to its student loan practice. The Reinhardt College Code of Conduct will be administered and enforced on each employee, officer, and agent with responsibilities in respect to the loan program will be informed annually of the provisions of the code of conduct as set forth by the Higher Education Opportunity Act (HEOA) School Code of Conduct.
BAN ON REVENUE-SHARING ARRANGEMENTS:
Reinhardt College can not recommend a lender or the loan products of the lender and in exchange the lender pay a fee or provide other material benefits, including revenue or profit sharing to Reinhardt College, an officer or employee of the institution, or an agent.
GIFT BAN:
No officer or employee of Reinhardt College, who is employed in the financial aid office or who otherwise, has responsibilities with respect to education loans, or agent who has responsibilities with respect to education loans, shall solicit or accept any gift from a lender, guarantor, or servicer of education loans.
A gift means any gratuity, favor, discount, entertainment, hospitality, loan, or other item having a monetary value. The term gift includes services, transportation, lodging, or meals, whether provided in kind, by purchase of a ticket, payment in advance, or reimbursement after the expense has been incurred. An employee may attend conferences and meetings of tax-exempt organizations that are funded or sponsored by more than one entity and, subject to state law, receive materials, refreshments and other things of like value provided at such professional conferences and meetings.
PROHIBITED CONTRACTING ARRANGEMENTS:
Reinhardt College employees of the financial aid office, or any employee who otherwise has responsibilities with respect to education loans, are prohibited from entering into any type of consulting arrangement or other contract to provide to a lender services relating to education loans.
PROHIBIT ASSIGNING OF LENDER TO FIRST-TIME BORROWER AND PROHIBIT REFUSAL TO CERTIFY OR DELAY OF LOAN CERTIFICATION BASED ON CHOICE OF LENDER:
Reinhardt College shall not for any first-time borrower, assign, through award packaging or other methods, the borrower's loan to a particular lender, or refuse to certify, or delay certification of, any loan based on the borrower's selection of lender or guaranty agency. The selection of a lender for inclusion on the Reinhardt College Preferred Lender List shall be solely based on the best interest of Reinhardt College students and their parents without regard to any interests of the college. Any Preferred Lender List shall clearly explain:
- Students and their parents are free to select the Lender of their choice and will suffer no adverse condition upon using a Lender that is not a "preferred lender".
- Students and their parents will be instructed where to find information on other Lenders within the federal lending program.
- Reinhardt College will certify any loan from any Lender selected by a borrower, in accordance with U.S. Department of Education regulations.
• Students and their parents will be informed concerning the college's process utilized in providing a Preferred Lender List.
PROHIBITION ON OFFERS OF FUNDS FOR PRIVATE LOANS:
Reinhardt College shall not 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 the lender with-
- A specified number of loans made, insured, or guaranteed under this title;
- A specified loan volume of such loans; or
• A preferred lender arrangement for such loans.
BAN ON STAFFING ASSISTANCE:
Reinhardt College shall not request or accept from any lender any assistance with call center staffing or financial aid office staffing. The institution can accept assistance from a lender to -
- Professional development training for financial aid administrators;
• Providing educational counseling materials, financial literacy materials, or debt management materials to borrowers, provided that such materials disclose to borrowers the identification of any lender that assisted in preparing or providing such materials.
PROHIBITION ON RECEIPT OF COMPENSATION FOR ADVISORY BOARD SERVICE:
Reinhardt College employees of the financial aid office, or any employee who otherwise has responsibilities with respect to educational loans, who serve on an advisory board (or commission or group) relating to educational loans established by a lender or group of lenders from receiving anything of value from the lender or group of lenders in connection with serving on such advisory board.
