Student Loan Code of Conduct

The University of Louisville adopted a Student Loan Code of Conduct to align with the provisions of the Higher Education Opportunity Act (HEOA) that was signed into law on August 14, 2008. The core purpose of the code is to maintain ethical standards and avoid conflicts of interest with the responsibilities of its employees of the Student Financial Aid Office or other school employees with financial aid or education loan-related responsibilities for service on advisory boards, commissions, or groups.  

  • The University of Louisville shall not enter into any revenue-sharing arrangements with any lender, including Title IV or private education loan lenders
  • No employee of University of Louisville may solicit or accept gifts from a lender, guaranty agency, or loan servicer to financial aid office or other institutional employees with responsibilities related to education loans
  • Employees cannot accept any fee, payment, or other financial benefit (including the opportunity to purchase stock) as compensation for consulting or other contractual arrangement to provide education loan related services
  • Employees must not steer a first-time borrower’s loan to a particular lender through packaging or any other method (for example, the school’s website or publications)
  • Employees cannot refuse or delay certification of any loan based on a borrower’s lender selection
  • Employees may not request or accept from any lender offers of funds for making private education loans (including opportunity pool loans) in exchange for providing concessions or promises for providing a specific number or volume of private loans, or for private loan preferred arrangements
  • Lenders will not provide call center or financial aid office staffing assistance except under certain limited circumstances specified in statute and regulation
  • Employees of the financial aid office or other school employees with financial aid or education loan-related responsibilities for service on advisory boards, commissions, or groups will not accept compensation provided by a lender or guarantor (or a group of lenders or guarantors), except for reimbursement of reasonable expenses incurred for such service.