Financial Aid Code of Conduct
Code of Conduct for Drury University and Student Loan Lenders
In order to ethically assist students in making informed decisions about financing their education and fulfill the purpose of helping our students achieve their educational goals by providing available financial resources, all Drury University Financial Aid representatives have adopted the following Code of Conduct as set forth by the NASFAA Board of Directors, May 2007.
Code of Conduct for Institutional Financial Aid Professionals
An institutional financial aid professional is expected to always maintain exemplary standards of professional conduct in all aspects of carrying out his or her responsibilities, specifically including all dealings with any entities involved in any manner in student financial aid, regardless of whether such entities are involved in a government sponsored, subsidized, or regulated activity. In doing so, a financial aid professional should:
- Refrain from taking any action for his or her benefit.
- Refrain from taking any action he or she believes is contrary to law, regulation, or the best interests of the students and parents he or she serves.
- Ensure that the information he or she provides is accurate, unbiased, and does not reflect any preference arising from actual or potential personal gain.
- Be objective in making decisions and advising his or her institution regarding relationships with any entity involved in any aspect of student aid.
- Refrain from soliciting or accepting anything of other than nominal value from any entity (other than an institution of higher education or a governmental entity such as the U.S. Department of Education) involved in the making, holding, consolidating or processing of any student loans, including anything of value (including reimbursement of expenses for serving on an advisory body or as part of a training activity of or sponsored by any such entity).
- Disclose to his or her institution, in such manner as his or her institution may prescribe, any involvement with or interest in any entity involved in any aspect of student financial aid.
In addition to the above directives, the Drury University Financial Aid office will comply with all federal requirements including the following mandates:
- The method and criteria used to select lenders on our lender list will be fully disclosed and will be reviewed annually.
- Students will be informed that their student loan will be processed with any lender selection without delay, regardless of whether included on any lender list.
- Any lender list compiled by Drury University will include no less than three unaffiliated lenders.
- All revenue sharing agreements with lenders will be prohibited.
- No gifts above a nominal value from lenders or guarantors will be accepted.
- No private loans will be accepted as conditioned on the use of a lender’s Title IV loans.
- Contracting arrangements with lenders or guarantors that provide compensation to staff is prohibited.
- Lender or guarantor staffing assistance will not be accepted.
- No compensation of any type will be accepted from any lender or guarantor.
- Students will be given a choice of lenders and will not be assigned a lender by the school.