Lending Code of Conduct

CALC, Institute of Technology, as a participant in federal loan programs, is required to have a code of conduct applicable to the institution’s officers, employees, and agents. The code of conduct requirements are set forth in the Higher Education Opportunity Act (HEOA) signed into law on August 14, 2008. The Code of Conduct Related to Student Loan Activities is a requirement specific to certain transactions and activities related to financial aid matters. In addition, the law includes requirements related to publication of the code and annual disclosures. The code of conduct applies to the officers, employees, and agents of CALC, Institute of Technology and reads as follows:
  • CALC, Institute of Technology does not recommend endorse, or promote any particular lender to a student.
  • The institution shall not enter into revenue-sharing arrangements with any lender.
  • The institution shall not steer borrowers to particular lenders or delay loan certifications.
  • The institution shall not offer funds for private loans to students in exchange for providing concessions or promises to any lender for a specific number of FSA loans, a specified loan volume, or a preferred lender arrangement.
  • The institution’s financial aid office staff (or other employees or agents with responsibilities with respect to education loans) are prohibited from receiving gifts from a lender, guaranty agency, or loan servicer.
  • The institution’s financial aid office staff (or other employees or agents with responsibilities with respect to education loans) are prohibited from accepting compensation for any type of consulting arrangement or contract to provide services to or on behalf of a lender relating to education loans.
  • The institution’s financial aid office staff (or other employees or agents with responsibilities with respect to education loans) are prohibited from accepting compensation for service on an advisory board, commission, or group established by lenders or guarantors, except for reimbursement for reasonable expenses.

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