The Higher Education Opportunity Act requires institutions of higher education participating in the administration of educational loan programs to develop and publish a Code of Conduct. Any Northern Illinois University officer, employee, or agent who has responsibilities with respect to student education loans is required to comply with this Code of Conduct as outlined below.
- Northern Illinois University, and any of its employees, shall not:
- enter into any revenue-sharing arrangement with any student lender;
- assign or steer borrowers to particular lenders;
- refuse to certify or delay loan certifications based on the borrower’s selection of a particular lender or guaranty agency;
- offer funds for private loans to students in exchange for providing concessions or promises to a lender for a specific number or volume of loans, or a preferred lender arrangement for such loans;
- accept any gift from a lender, guarantor, or servicer of education loans that exceeds a de minimis amount.
- An employee with responsibilities for student education loans and who serves on an advisory board, commission, or group established by a lender, guarantor, or group of lenders or guarantors, shall be prohibited from receiving anything of value from the lender, guarantor, or group of lenders or guarantors, with the exception of being reimbursed for reasonable expenses incurred in service on such advisory board, commission, or group.
- Northern Illinois University shall not request or accept from any lender assistance with financial aid staffing, except for:
- professional development training for financial aid administrators;
- providing educational counseling materials, financial literacy materials, or debt management materials to borrowers, provided that such materials disclose to borrowers the identification of any lender that assisted in preparing or providing such materials;
- in the event of a short-term, nonrecurring basis such as state or federally declared natural disasters or other localized disasters or emergencies.
- Expectations for all Northern Illinois University Financial Aid and Scholarship Office employees include:
- treating students and family members ethically, respectfully, and professionally during the financial aid process so they can make informed enrollment decisions without being subjected to high-pressure tactics from the institution or related contractor, such as:
- falsely claiming that enrollment spots are limited;
- pressuring students to make an immediate financial aid decision;
- engaging in repeated unsolicited contact;
- completing applications for a student without permission;
- applying the signature of a student.
- providing current and accurate information to students during all aspects of the enrollment process.
- In addition to the items above, as a member of the National Association of Student Financial Aid Administrators (NASFAA), the University also follows the standards established in NASFAA’s Statement of Ethical Principles and Code of Conduct for Institutional Financial Aid Professionals.