FEDERAL STUDENT AID CODE OF CONDUCT
Ohio Valley University participates fully in each of the federally-supported student financial aid programs available through the United States Department of Education (ED). The University upholds the standards required of participating institutions. Specifically, and with regard to federal student loan programs, neither the University nor its employees will establish any sort of revenue sharing arrangement with a lender. Furthermore, there will be no requirement for students or their parents to use any particular lending institution, nor will there be any strategies or practices employed which would otherwise direct potential borrowers to a specific lender.
University employees may assist student borrowers in locating a lender in one of the signature or private alternative loan programs offered by various lenders. Such guidance will be motivated solely by the need of the student and must not be in response to a lender’s offer to provide federal student aid (FSA) loans to other students at the University.
The University may, at its discretion, choose to maintain a preferred lender list on its website solely as a convenience to potential student/parent borrowers. Lenders will be selected for the list based on their record of customer service to OVU students. Potential borrowers will in every case be given the option of selecting a lender other than those listed on the website.
University employees may not accept gifts of any kind from a lender, guaranty agency or loan servicer for any purpose. Employees responsible for the processing of student loans may not accept compensation for consulting with or providing services to or on behalf of education loan companies or guarantee agencies, nor can an employee serve on an advisory board, commission or similar group established by a lender or guarantee agency.
34 CFR 601.21