Code of Conduct for U.S. Education Loans
The code of conduct prohibits conflict of interest with the responsibilities of an AUB employee with respect to private education loans.
All employees at AUB with responsibility for US loans are prohibited from:
- Revenue-sharing arrangements with any lender
- Recommending lender
- Receiving gifts from a lender or a loan servicer
- Promoting lenders through entrance and exit counseling
- Accepting financial benefits from any lender or affiliate of a lender as compensation for any type of contracting arrangements.
- Directing borrowers to particular lenders* or refusing or delaying loan certifications based on borrower’s selection of a particular lender
- Accepting offers of funds for private loans
- Requesting or accepting lender assistance with financial aid office staffing
- Accepting compensation from lenders if serving on advisory boards.
All employees with responsibilities for U.S. loans are informed annually of the provisions of the code of conduct.
* AUB does not have a preferred lender arrangement, since the only lender offering such loans overseas is SallieMae, therefore the latter is not a preferred lender and this does not represent a preferred lender arrangement.