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The Higher Education Opportunity Act (HEOA) requires educational institutions to develop
and comply with a code of conduct that prohibits conflicts of interest for financial
aid personnel. All LBCC financial aid professionals are expected to always maintain
ethical behavior and exemplary standards of professional conduct in all aspects of
carrying out their responsibilities.
The obligations in this Code of Conduct are in addition to any requirements imposed
by state ethics laws, federal laws, or LBCC policies. In the event of duplication
of policy, the stricter standard of ethical behavior will apply in all instances.
- No action will be taken by financial aid staff that is for their personal benefit
or could be perceived to be a conflict of interest.
- Employees within the financial aid office will not award aid to themselves or their
immediate family members. Staff will reserve this task to an institutionally designated
person, to avoid the appearance of a conflict of interest.
- LBCC does not have a preferred lending agreement with any lender of private education
loans. LBCC will not enter into a revenue-sharing arrangement with any lender or accept
any private loan funds in exchange for the institution providing concessions to the
private loan lender.
- Financial aid staff will not engage in the practice of recommending, promoting or
endorsing private education loans for students who attend the Institution.
- A borrower's choice of a lender for a private education loan (available for high-cost
programs only) will not be denied, impeded, or unnecessarily delayed by the institution.
- No amount of cash, gift, or benefit in excess of a de minimis amount shall be accepted
by a financial aid staff member from any financial aid applicant (or his/her family)
or from any entity doing business with or seeking to do business with the institution
(including service on advisory committees or boards beyond reimbursement for reasonable
expenses directly associated with such service).
- Financial aid staff are prohibited from receiving any fees, payments, or other financial
benefits for consulting services including serving on the board of directors of a
lender or loan servicer.
- LBCC's Financial Aid Office will not accept any assistance with call center staffing
or financial aid office staffing from any lender or loan servicer.
- Information provided by the financial aid office is accurate, unbiased, and does not
reflect preference arising from actual or potential personal gain.
- Institutional award notifications and/or other institutionally provided materials
shall include the following:
- A breakdown of individual components of the institution's cost of attendance, designating
all potential billable charges.
- Clear identification of each award, indicating the type of aid, i.e. gift aid (grant,
scholarship), work, or loan.
- All required consumer information is displayed in a prominent location on the institutional
website(s) and in any printed materials, easily identified and found, and labeled
as "Consumer Information."
- LBCC financial aid staff are required to disclose to the institution any involvement,
interest in, or potential conflict of interest with any entity with which the institution
has a business relationship.
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