Code of Conduct

As active institutional members of the National Association of Student Financial Aid Administrators (NASFAA), the Financial Services employees at Rochester University adhere to the NASFAA Code of Conduct.  The Code is intended to help guide financial aid professionals in carrying out their duties, particularly with regard to the transparency in the administration of student financial aid programs, and to avoid the harm that may arise from actual, potential or perceived conflicts of interest.  The Higher Education Opportunity Act of 2008 legislated requirements which prohibit a conflict of interest with regard to responsibilities of an officer, employee, or agent of the school regarding Title IV loans. The term “employees” refers to any of the school’s officers, employees, and agents who are employed in the financial services office or who are responsible with respect to financial aid and/or student loans related to Title IV education or private loans for educational purposes.  Rochester University will administer our private loan funding packaging in the same manner as the Direct Loan and Title IV funding, with the exception of smart option loans. The Code of Conduct establishes that employees shall not enter into any profit-sharing arrangement with any lender where the lender provides or issues a Title IV loan to the student or the student’s family in exchange for the school recommending the lender or the lender’s loan products in exchange for a fee or material benefit including profit or revenue sharing that benefits the school or a school’s employee or agent. Employees shall not solicit or accept any gift in the form of a gratuity, favor, discount, entertainment, hospitality, loan, service, transportation, lodging, meals, reimbursement, or other item having a monetary value of more than a nominal amount from a lender, guarantor, or servicer.  Employees should disclose to the institution if an unauthorized gift from a lender is received. Exceptions to this rule include materials or services related to loan issues, default aversion and prevention or financial literacy. Entrance and Exit counseling services controlled by Rochester University employees do not promote a specific lender, educational grant or scholarship. Rochester University will not assign a loan for a first-time borrower to a particular lender or delay or refuse to certify a loan based on the borrower’s choice of lender or guarantor. Rochester University informs borrowers that they have the right and ability to select the lender of their choice. Rochester University will not request or accept assistance from a lender for a call center or student financial services office staffing. Rochester University does not participate in a preferred lender list.