This policy establishes the University of Southern Indiana’s (USI) Student Loan Code of Conduct which is applicable to all USI officers, USI employees, and USI Agents involved with the administration of student loans or who otherwise have responsibilities related to student loans in accordance with the Higher Education Opportunity Act (HEOA) of 2008.
Revenue Sharing Prohibition The University of Southern Indiana (USI), nor any employee or officer of USI will not enter into any Prohibited Revenue Sharing Arrangement with any lender.
Gift and Trip Prohibition The University of Southern Indiana, officers and employees who are employed by the USI financial aid office or who otherwise have responsibilities with respect to student loans, shall not ask for or accept any prohibited gift from any lender, guarantor, or servicer of student loans. This includes a prohibition on trips for financial aid officers and other college officials paid for by the lenders.
Advisory Board Compensation Prohibition The University of Southern Indiana employees are prohibited from receiving anything of value for serving on the advisory board of any lending institution.
Contracting Arrangement Prohibition Officers and employees who are employed in the USI financial aid office or who otherwise have responsibilities with respect to student loans, may not accept any fee, payment or other financial benefit as compensation for any type of contracting arrangement from any lender or affiliate of any lender.
Lender Recommendation Prohibition The University of Southern Indiana shall not (i) assign, through award packaging or other methods, a Student Loan of a first time borrower to a particular lender, or (ii) refuse to certify, or delay the certification of, any student loan, based on a borrower's selection of a particular lender or guaranty agency
Offers of Funds for Private Loans Prohibition The University of Southern Indiana shall not request or accept from any lender any offer of funds for private education loans (as defined in the federal Truth in Lending Act) to students, including funds for an opportunity pool loan, in exchange for any commitment by the University (i) to provide the lender with a specified number or volume of student loans, or (ii) to enter into a preferred lender arrangement for such loans.
Staffing Assistance Prohibition The University of Southern Indiana does not and will not utilize employees of any lender as university call center employees, nor will the University allow any representative from any lender offer staffing for the financial aid office.
EMPLOYEES OF THE UNIVERSITY OF SOUTHERN INDIANA WHO KNOWINGLY FAIL TO ADHERE TO THESE STANDARDS WILL BE SUBJECT TO DISCIPLINARY ACTION.