Code of Conduct
Staff members in the Office of Scholarships and Financial Aid have always been bound to act in compliance with the vision outlined in our Mission Statement and the National Association of Student Financial Aid Administrator's Statement of Ethical Principles and Code of Conduct for Institutional Financial Aid Professionals.
Loyola University does not have a preferential lending relationship with any student loan provider.
- No staff member shall accept any gift worth more than $10 from a representative of a student loan provider. The Department of Education has defined "gift" as:
- "Any gratuity, favor, discount, entertainment, hospitality, loan or other item valued at more than a de minimus amount.
- The term includes services, transportation, lodging, or meals, whether provided in kind, by purchase of a ticket, payment in advance, or by reimbursement."
- Staff can participate in meals, refreshments, and receptions in conjunction with professional association meetings, trainings, or conference events open to all attendees.
- Staff will place all unsolicited marketing materials (such as pens, pads and markers) received from lenders in the reception area for the use of students and parents. Brochures promoting specific loan products will not be displayed in the reception area or stored in any area of the office. Brochures dealing with financial literacy issues can be displayed as long as they do not mention any specific loan product.
- Office visits by representatives of major lenders are normally limited to once a quarter.
- Staff members are free to pursue part-time employment outside of their scheduled work day. However, any staff member who is approached by a lender with an offer for supplemental employment will provide full written details to his/her supervisor. Staff members can not accept supplemental employment with lenders that creates any potential "conflict of interest" with the operations of the Office of Scholarships and Financial Aid.
- Effective August 1, 2011, all university staff must annually certify knowledge of and compliance with the university's official Conflict of Interest Policy.
- Staff members shall not accept any remuneration or expense-reimbursement for serving as a member of a lender's advisory board. Service on a lender's advisory board MUST be approved by a supervisor; Staff may participate on advisory boards that are unrelated in any way to higher education loans.
- Loyola University New Orleans does not currently require staff to complete and submit financial disclosure forms as a condition of employment. All staff members in the Office of Scholarships and Financial Aid will disclose to his or her immediate supervisor if an assigned task could create a perceived or real "conflict of interest" in the eyes of the public.
Staff who knowingly fail to follow these guidelines will be subject to disciplinary action.
- Loyola University New Orleans does not have a revenue-sharing arrangement with any student loan provider. These agreements are prohibited.
- Lender account representatives are not permitted to work within the Office of Scholarships and Financial Aid or to pass themselves off as employees of the University.
These guidelines also apply to any staff member at Loyola University New Orleans who may have dealings with student loan providers.
Updated September 8, 2012