Loan Code of Conduct
The Higher Education Opportunity Act requires all educational institutions who participate in Title IV programs to develop, publish, administer and enforce a code of conduct prohibiting conflicts of interest for its financial aid personnel for the institution to remain in compliance [HEOA § 487(a)(25)]. All Norwich employees and agents are required to comply with the Student Loan Code of Conduct.
1. Norwich University nor any individual officer, employee or agent shall enter into any revenue-sharing arrangements with any lender
2. No officer, employee or agent of Norwich University who has responsibilities with respect to education loans will steer borrowers to particular lenders or delaying loan certifications
3. An officer or employee of Norwich University who is employed in the Office of Financial Aid or any agent who has responsibilities with respect to education loans; may offer funds for private loans to students in exchange for providing concessions or promises to the lender for a specific number of FSA loans, a specified loan volume, or a preferred lender arrangement
4. Norwich University, it officers, employees, and agents (or other employees or agents with responsibilities with respect to education loans) are prohibited from the following: a. receiving gifts from a lender, guaranty agency, or loan servicer b. accepting compensation for any type of consulting arrangement or contract to provide services to or on behalf of a lender relating to education loans c. service on an advisory board, commission, or group established by lenders or guarantors, except for reimbursement for reason-able expenses