Code of Conduct for Financial Aid Professionals

Barry University financial aid professionals are expected to 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 personal benefit.
  • Refrain from taking any action that is contrary to law, regulation, or the best interest of students, as well as parents.
  • Provide information that is accurate, unbiased, and does not reflect any preference arising from actual or potential personal gain.
  • Be objective in making decisions and advising the University regarding relationships with any entity involved in any aspect of student financial aid.

In addition:

  • The University shall not enter into any revenue-sharing arrangement with any lender.
  • No University officer or employee within the Financial Aid Office, or who otherwise has responsibilities with respect to education loans, shall solicit or accept any gift (e.g 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.
  • A University officer or employee within the Financial Aid Office, or who otherwise has responsibilities with respect to education loans, shall not accept from any lender or affiliate 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 any offer of funds to be used for private education loans, including funds for an opportunity pool loan, from any lender in exchange for providing concessions or promises regarding providing the lender with: a specified number of loans made, insured, or guaranteed; a specified loan volume; or a preferred lender arrangement.
  • The University shall not request or accept from any lender assistance with call center or financial aid office staffing.
  • Employees within the Financial Aid Office, or who otherwise have 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 standards established in NASFAA's Statement of Ethical Principles and Code of Conduct for Institutional Financial Aid Professionals:www.nasfaa.org/Statement_of_Ethical_Principles