University of Alaska Financial Aid Code of Conduct
The University of Alaska is committed to providing the best possible customer service to our students and their families. Keeping within the federal requirements, it is our goal to provide information and advice, determined solely by consideration of the best interests of our students. To ensure students and their families continue to receive sound and impartial advice from our financial aid personnel, and to avoid the potential for, or appearance of, conflicts of interest regarding student loans, the University of Alaska shall abide by the Code of Conduct in its relationship with lenders, guarantors and servicers of education loans. It is the intention of the University of Alaska that this Code of Conduct complies with the letter and spirit of the Higher Education Act, as amended by the Higher Education Opportunity Act of 2008.
- Neither the University of Alaska as an institution, nor any individual officer, employee or agent of the University of Alaska, shall enter into any revenue-sharing arrangements with any lender.
- An officer or employee of the University of Alaska who is employed in the financial aid office or who otherwise has responsibilities with respect to education loans, or an agent who has responsibilities with respect to education loans, shall not accept from any lender or affiliate of any lender any fee, payment, or other financial benefit (including the opportunity to purchase stock) 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.
- The University of Alaska does not have a preferred lender list and, therefore, will not use a preferred lender list to deny or otherwise impede a borrower's choice of lender. Financial aid staff members will not refuse to certify, or delay certification of, any loan based on the borrower's selection of a particular lender or guaranty agency.
- The University of Alaska 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 student in exchange for institution providing concession or promises regarding providing the lender with:
- a specified number of loans made, insured, or guaranteed under Title IV;
- a specified loan volume of such loans; or
- a preferred lender arrangement for such loans
- The University of Alaska shall not request or accept from any lender any assistance with call center staffing or financial aid office staffing.
- Any employee who is employed in the financial aid office, or who otherwise has responsibilities with respect to education loans or other student financial aid, and who serves on an advisory board, commission, or group established by a lender, guarantor, or group established by a lender, guarantor, or group of lenders or guarantors, shall be prohibited from receiving anything of value from the lender, guarantor, or group of lenders or guarantors, except that the employee may be reimbursed for reasonable expenses incurred in serving on such advisory board, commission, or group.