The Higher Education Opportunity Act (HEOA) of 2008 requires institutions of higher education to develop and enforce a code of conduct that prohibits conflicts of interest for financial aid personnel.
Additionally, as members of the National Association of Student Financial Aid Administrators (NASFAA), Citrus College financial aid staff also adhere to the NASFAA Statement of Ethical Principles and Code of Conduct which contains principles specific to the financial aid profession.
For additional information regarding ethical conduct required by all Citrus College Employees, view Board Policy 3050 Institutional Code of Ethics.
Citrus College’s Financial Aid Department Code of Conduct prohibits all employees who work in the Financial Aid Department and all other school employees, officers, and agents who have responsibilities with respect to education loans:
Code of Conduct
Conflict of Interest
No employee shall have a conflict of interest with respect to any education loan program or other student financial aid program for which the employee has responsibility.
Ban on Revenue Sharing Arrangements
The College shall not enter into any revenue-sharing arrangement with any lender or other vendor working with its financial aid office. The College shall not accept any fee or other material benefit in exchange for recommending a lender to its students.
Gift Ban
No College officer or employee with financial aid responsibilities shall solicit or accept a gift (e.g. a gift of services, transportation, lodging, or meals, provided by the purchase of a ticket, payment in advance, or reimbursement) having a monetary value of more than a de minimus amount from a lender, guarantor, or servicer of education loans.
Contracting Arrangements Prohibited
No College officer or employee with financial aid responsibilities shall accept from any lender or lender affiliate any payment or other financial benefit as compensation for any type of consulting arrangement or other contracts to provide services to a lender.
Interaction with Borrowers
The College shall not automatically assign a particular lender to any borrower, and shall not refuse to certify or delay the certification of any loan based on the lender or guarantee agency selected.
Prohibition on Offers of Funds for Private Loans
The College shall not request or accept from any lender an offer of funds to be used for private education loans in exchange for the College providing the lender with a specified number or volume of federal loans made or in exchange for placement on a preferred lender list.
Co-branding
The College prohibits any private educational lender from using the College’s name, emblem, and logo as well as any words, pictures, or symbols associated with the College to imply endorsement of private education loans by that lender.
Ban on Staffing Assistance
The College shall not request or accept from any lender any assistance with call center staffing or financial aid office staffing.
Advisory Board Assistance
All employees with financial aid responsibilities shall be prohibited from receiving anything of value from a lender or guarantor in return for service on its advisory board. Reimbursement for reasonable expenses incurred in connection with such service, however, is permitted.