Code of Conduct for Financial Aid Professionals
Barry University financial aid professionals are expected to always maintain exemplary standards of professional conduct in all aspects of carrying out their responsibilities. In doing so, a financial aid professional will:
- 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 interest of the student and parents that he or she serves.
- Ensure that the information he or she provides is accurate, unbiased, and does not reflect any preference arising from actual or potential personal gain.
- Be objective in making decisions and advising his or her institution regarding relationships with any entity involved in any aspect of student financial aid
- The University shall not enter into any revenue-sharing arrangement with any lender.
- No officer or employee of the University who is employed in the Financial Aid Office of the University or who otherwise has responsibilities with respect to education loans, shall solicit or accept any gift (any gratuity, favor, discount, entertainment, hospitality, loan, or other item having a monetary value of more than a de minimus amount) from a lender, guarantor, or servicer of education loans.
- An officer or employee who is employed in the Financial Aid Office of the University or who otherwise has responsibilities with respect to education loans, shall not accept from any lender or affiliate of any lender any fee, payment, or other financial benefit (including the opportunity to purchase stock) as compensation for any type of consulting arrangement or other contract to provide services to a lender or on behalf of a lender relating to education loans.
- The University shall not request or accept from any lender any offer of funds to be used for private education loans including funds for an opportunity pool loan, to students in exchange for the University providing concessions or promises regarding providing the lender with: a specified number of loans made, insured, or guaranteed under this title; a specified loan volume of such loans; or a preferred lender arrangement for such loans.
- The University shall not request or accept from any lender any assistance with call center staffing or Financial Aid Office staffing.
- Any employee who is employed in the Financial Aid Office, or who otherwise has responsibilities with respect to education loans, shall not serve on an advisory board, commission, or group established by a lender, guarantor, or group of lenders or guarantors.
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: www.nasfaa.org/subhomes/MediaCenter/NASFAACodeofConduct.pdf