Code of Conduct for Financial Aid Counselors
As members of the National Association of Student Financial Aid Administrators (NASFAA), Our Lady of the Lake University Financial Aid staff adhere to the which contains principles specific to the financial aid profession.
Staff members:
- Do not have any revenue-sharing agreements with lenders.
- Have not accepted any offers of funds from lenders to be used for private educational loans (also known as opportunity pools) in exchange for processing federal or private loans for a particular lender.
- Have not received gifts of stock or other financial compensation from lenders in return for service on the advisory board of a lender.
- Do not serve on any lender advisory boards.
Additionally:
- No staff member shall accept any gift greater than $10 in value from a representative of a student loan provider. Gifts include meals, travel, lodging, entertainment and in-kind services (such as printing customized consumer information for borrowers with the logo of the school). Staff can participate in meals, refreshments and receptions in conjunction with meetings, trainings or conference events open to all attendees.
- Staff members shall not accept any remuneration or expense-reimbursement for serving as a member of the advisory board of a lender. Staff may participate on advisory boards that are unrelated in any way to higher education loans.
- Our Lady of the Lake University does not currently require staff to complete and submit financial disclosure forms as a condition of employment. All staff members in the Financial Aid Office will disclose to his or her immediate supervisor if an assigned task could create a perceived or real conflict of interest in the eyes of the public.
Staff members who knowingly fail to follow these guidelines will be subject to normal disciplinary guidelines.