Institutional Code of Conduct for Education Loans

Source: https://finaid.princeton.edu/policies-procedures/institutional-code-conduct-education-loans Parent: https://finaid.princeton.edu/how-aid-works/family-contribution

Princeton University:

• Does not require the use of particular lenders or in any way limit the choice of lenders.
• Does not recommend external lenders to students or their parents, and does not maintain a preferred lender list.
• Processes loan applications through any lender a student or parent chooses.
• Does not solicit or accept anything of value from any lender in exchange for any advantage sought by the lender to make educational loans to students enrolled at, or admitted to, the University.
• Prohibits employees of the financial aid office, or any employee who otherwise has responsibilities with respect to educational loans, from taking any gift from any lender worth more than nominal value.
• Prohibits offers of funds for private loans to students in exchange for providing concessions or promises to the lender for a specific number of FSA loans or private education loans, a specified loan volume, or a preferred lender arrangement.
• Prohibits employees of the financial aid office, or any employee who otherwise has responsibilities with respect to educational loans, from entering into any type of consulting arrangement or other contract to provide to a lender services relating to educational loans.
• Prohibits employees of the financial aid office, or any employee who otherwise has responsibilities with respect to educational loans, who serve on an advisory board (or commission or group) relating to educational loans established by a lender or group of lenders from receiving anything of value from the lender or group of lenders in connection with serving on such advisory board (or commission or group).
• Prohibits external lenders’ employees, representatives, or agents from providing staffing services to the financial aid office.
• Prohibits external lenders’ employees, representatives, or agents from identifying themselves to students of the University or their parents as employees, representatives, or agents of the financial aid office.
• Does not assign for any borrower, through financial aid packaging or other methods, a loan to a particular lender, and does not refuse to certify or delay certification of any loan based on the borrower’s selection of a particular lender or guaranty agency.
• Does not offer “opportunity loans,” as defined by the State of New Jersey Office of the Attorney General, to students or parents.