Wake Forest University Code of Conduct for Financial Aid Administrators
An institutional financial aid professional is expected to always maintain exemplary standards of professional conduct in all aspects of carrying out his or her responsibilities, specifically including all dealings with any entities involved in any manner in student financial aid, regardless of whether such entities are involved in a government sponsored, subsidized, or regulated activity.
In doing so, a financial aid professional should:
- Refrain from taking any action for his or her personal benefit.
- Refrain from taking any action he or she believes is contrary to law,
regulation, or the best interests of the students and parents he or she
- Ensure that the information he or she provides is accurate, unbiased, and
does not reflect any preference arising from actual or potential personal
- Be objective in making decisions and advising his or her institution
regarding relationships with any entity involved in any aspect of student
- Refrain from soliciting or accepting anything of other than nominal value
from any entity (other than an institution of higher education or a governmental entity such as the U.S. Department of Education) involved in the making, holding, consolidating or processing of any student loans, including anything of value (including reimbursement of expenses) for serving on an advisory body or as part of a training activity of or sponsored by any such entity.
- Disclose to his or her institution, in such manner as his or her institution may prescribe, any involvement with or interest in any entity involved in any aspect of student financial aid.
As prescribed by federal regulations, and in compliance with 34 U.S.C. §601.21(c), student financial aid administrators at Wake Forest University may not
- Engage in any revenue-sharing arrangements with any lender;
- Solicit or accept gifts from a lender, guarantor, or servicer;
- Accept any fee, payment, or other financial benefit as compensation for
any type of consulting or any contractual relationship with a lender;
- Assign a first-time borrower’s loan to a particular lender or refuse to certify
or delay certification of any loan based on a borrower’s selection of a
- Request offers of funds for private education loans, including opportunity
pool loans, from a lender in exchange for providing the lender with a
specified number or loan volume of private education loans or a
preferred lender arrangement;
- Request or accept staffing assistance from a lender; and
- Receive compensation for serving on an advisory board, commission, or
group established by a lender, guarantor, or group of lenders or guarantors.