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Concordia University – Ann Arbor
Financial Aid Office
Statement of Ethical Principles and Code of Conduct
The primary goal of the institutional financial aid professional is to help students
achieve their educational potential by providing appropriate financial resources. All
of our actions are bound by the following ethical principles, that we shall:
- Be committed to removing financial barriers
- Make every effort to assist students with financial need
- Be aware of the issues affecting students and advocate their interests at the
institutional, state, and federal levels
- Support early awareness efforts for students to plan for higher education
- Educate students and families through quality consumer information
- Protect the privacy and respect the dignity of students. Ensure confidentiality
of records and circumstances
- Ensure equity by applying all need analysis formulas consistently across the
full population of applicants
- Provide services that do not discriminate on the basis of race, gender,
ethnicity, sexual orientation, religion, disability, age, or economic status
- Maintain the highest level of professionalism and commitment to ethical
behavior
- Refrain from any “conflict of interest” or the perception thereof
- Recognize the need for professional development and continuing education
opportunities
The Higher Education Opportunity Act conditions the eligibility of educational
institutions to participate in Title IV programs on the development of and compliance
with a code of conduct prohibiting conflicts of interest for its Financial Aid
personnel [HEOA § 487(a)(25)].
Concordia's officers, employees and agents are required to comply with this Code of
Conduct. Staff in the Financial Aid Office have always attempted to act in the best
interest of our students and their families. The following specific provisions
ensure Concordia’s compliance with the federal law [HEOA § 487(e)], and
define our relationship with student loan providers.
Financial Aid Code of Conduct
- Neither Concordia as an institution nor any individual officer, employee or agent shall enter into any revenue-sharing arrangements with any lender.
- No officer or employee of Concordia who is employed in the Financial Aid Office or who otherwise has responsibilities with respect to education loans, or agent who has responsibilities with respect to education loans, or any of their family members, shall solicit or accept any gift from a lender, guarantor, or servicer of education loans. For purposes of this prohibition, the term "gift" means any gratuity, favor, discount, trip, entertainment, hospitality, loan, or other item having a monetary value of more than a nominal amount.
- Staff can participate in meals, refreshments, and receptions in conjunction with meetings, trainings, or conference events open to all attendees.
- Staff shall not accept from any lender, or affiliate of any lender, 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.
- Staff shall not accept any financial benefit from a lender for selection to Concordia’s Preferred Lender List. Preferred Lender List selection will be based solely on the best interests of the students and/or parents. (See Concordia Recommended Lender and Loan Program Selection and Policy).
- Staff shall not accept supplemental employment with lenders that creates any potential “conflict of interest” with the operations of the Financial Aid Office.
- All staff members in the Financial Aid Office 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.
- Concordia shall not:
- for any first-time borrower, assign, through award packaging or other methods, the borrower's loan to a particular lender; or
- refuse to certify, or delay certification of, any loan based on the borrower's selection of a particular lender or guaranty agency
- Concordia 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 the institution providing concessions or promises regarding providing the lender with:
- a specified number of loans made, insured, or guaranteed under Title IV;
- a specified loan volume of such loans; or
- a preferred lender arrangement for such loans.
- Concordia shall not request or accept from any lender any assistance with call center staffing or Financial Aid Office staffing.
- Financial Aid Office staff who serve on an advisory board, commission, or group of any lending institution, shall not receive anything of value from the lending institution, including reimbursement of expenses incurred in serving on such advisory board, commission, or group.
If you have any questions about your financial aid, please contact us.
Phone: 734.995.7408
Email: financialaid@cuaa.edu
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