The Higher Education Act of 1965, as amended under the Higher Education Opportunity Act, Title IV, Part G., Section 487(a)(25), requires that Pioneer Pacific College implement and enforce a code of conduct with regard to educational loans. Pioneer Pacific College’s officers, employees, trustees and agents including alumni and professional organizations affiliated with Pioneer Pacific College are required to comply with this code of conduct and will refrain from the following:
Ban on Revenue-Sharing Arrangements
Pioneer Pacific College shall not enter into any revenue-sharing arrangements with any lender.
Employees and agents of Pioneer Pacific College who are employed in the financial aid office or who otherwise have responsibilities for education loans, shall neither accept nor solicit any gift from a lender, guarantor or servicer of education loans.
Prohibition on Contracting Arrangements
Employees and agents of Pioneer Pacific College who are employed in the financial aid office or who otherwise have responsibilities for education loans, shall not accept from any lender or affiliate of any lender any fee, payment, or other financial benefit (including stock options) 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.
Interaction with Borrowers
Pioneer Pacific College shall not for any first time borrower, assign, through the financial award process or other methods, the student or borrower’s Federal Family Education Loan Program (FFELP) loan to a particular FFELP lender; or refuse to certify, or delay certification of any FFELP loan based on the student or borrower’s selection of a particular FFELP lender or FFELP guarantee agency.
Prohibition on Offers or Funds for Private Loans
Pioneer Pacific College 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 Pioneer Pacific College entering into agreements or promises to provide the lender with either a specified number of loans made; any specific loan volume; or a preferred lender arrangement for such loans.
Ban on Staffing Assistance
Pioneer Pacific College shall not request or accept from any lender any assistance with call center staffing or financial aid office staffing though nothing in this Code of Conduct shall limit Pioneer Pacific College from requesting or accepting assistance for professional development training for financial aid administrators; providing educational counseling materials; financial literacy materials; debt management materials; provided that such materials disclose to borrowers the identification of any lender that assisted in preparing or providing such materials; or staffing services on a short-term, nonrecurring basis to assist Pioneer Pacific College with financial aid-related functions during emergencies, including State declared or Federally declared natural disasters, Federally declared national disasters, and other localized disasters and emergencies identified by the Secretary of Education.
Advisory Board Compensation
Any employee who is employed in the financial aid office of Pioneer Pacific College, or who otherwise has responsibilities with respect to education loans or other student financial aid at Pioneer Pacific College, and who serves on an advisory board, commission, or group established by a lender guarantor, or group of lenders or guarantors, shall be prohibited from receiving anything of value from the lender, guarantor, or group of lenders or guarantors, except that the employee may be reimbursed for reasonable expenses incurred in serving on such advisory board, commission, or group.
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