Staff members in the Office of Enrollment Management are 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.
We have also developed the following principles:
- No staff member shall accept any gift 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 will not participate in meals or refreshments from lenders.
- Staff will not accept unsolicited marketing materials (such as pens, pads and markers) from lenders.
- Office visits by representatives of major lenders are normally limited to twice a semester.
- Staff members shall not accept any remuneration or expense-reimbursement for serving as a member of a lender’s advisory board. Staff may participate on advisory boards that are unrelated in any way to higher education loans.
- No staff member shall accept any fee, payment, or other financial benefit as compensation for any type of consulting arrangement or contact to provide services from a representative of a student loan provider.
- No staff member shall request or accept any offer of funds for private loans including funds for an opportunity pool loan from a representative of a student loan provider. The Department of Education has defined “opportunity pool loan” as:
- “A private education loan made by a lender to a student (or the student’s family) that involves a payment by the institution to the lender for extending credit to the student.”
- LSU does not currently require staff to complete and submit financial disclosure forms as a condition of employment. All staff members in the Office of Enrollment Management 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.
- LSU 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 Enrollment Management or to pass themselves off as employees of the University.
- LSU is committed to educating our families and students on loan products and services available. We take pride in knowing that we’ve selected lenders based on specific criteria that will ensure students and families get quality loan products and customer service that meet their needs. Every student has the right to use a lender and guarantor of his/her choice. We have reviewed the current LSU Lender Partner List and feel that our Lender Partners continue to provide products and services in the best interest of our students. Based on regulations, we are required to review information for any lender that expresses an interest to become a part of this Lender Partner List, and we will do so on a case-by-case basis.
Staff who knowingly fail to follow these guidelines will be subject to disciplinary action.