Financial Aid

For institutions who have 30 or more borrowers entering repayment in a fiscal year, the institution’s cohort default rate is the percentage of its borrowers who enter repayment on certain Federal Family Education Loans and/or William D. Ford Federal Direct Loans during that fiscal year and default within the cohort default period.

The phrase "cohort default period" refers to the three-year period that begins on October 1 of the fiscal year when the borrower enters repayment and ends on September 30 of the second fiscal year following the fiscal year in which the borrower entered repayment.

Please refer to the Department of Education's Cohort Default Rate Guide for a more in-depth description of cohort default rates and how the rates are calculated.

• College Affordability and Transparency Center
• College Scorecard: LBCC
• Student Loan Exit Counseling
• Financial Aid Information Page
• Oregon Office of Student Access and Completion

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.

1. 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.
   1. 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.
   2. 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.
   3. Financial aid staff will not engage in the practice of recommending, promoting or endorsing private education loans for students who attend the Institution.
   4. 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.
   5. 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).
   6. 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.
   7. 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.
2. Information provided by the financial aid office is accurate, unbiased, and does not reflect preference arising from actual or potential personal gain.
3. Institutional award notifications and/or other institutionally provided materials shall include the following:
   1. A breakdown of individual components of the institution's cost of attendance, designating all potential billable charges.
   2. Clear identification of each award, indicating the type of aid, i.e. gift aid (grant, scholarship), work, or loan.
4. 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."
5. 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.