Administration of Student Loans
This is the Bluefield College Financial Aid Office code of conduct pertaining to student loans.
Compensation and Revenue Sharing
- Bluefield College and its employees will not accept or receive payment from lenders for placement on a preferred lenders list and prohibit offers of funds for private loans. This includes any offer of funds for loans to students at the College, including funds for an opportunity pool loan, in exchange for providing concessions or promises to the lender for a specific number of loans.
- Bluefield College and its employees will not share in revenue or receive anything of value from a lending institution in trade for an advantage for the lending institution.
- Bluefield College and its employees will not receive compensation for serving on any advisory board in connection with private lenders or lending institutions.
- Bluefield College and its employees will not receive gifts from any lending institution which are offered in connection with any financial aid responsibilities and duties.
Consulting and/or Contracting Arrangements
- Bluefield College and its employees will not accept any fee, payment, or financial benefit as compensation for any type of consulting arrangement or contract to provide services to or on behalf of a lender relating to education loans.
- Bluefield College and its employees will not assign students a private lender.
- Bluefield College and its employees, specifically the Financial Aid Department, will not refuse to certify or delay the certification of a private loan based upon the student’s choice of lender.
- Bluefield College and its employees will not request or accept any assistance from private lenders or lending institutions in connection with call center staffing or financial aid office staffing.
- HEOA does not prohibit schools from requesting or accepting assistance from a lender related to:
- Professional development training for financial aid administrators.
- Providing educational counseling materials, financial literacy materials, or debt management materials to borrowers, provided that such materials disclose to borrowers the identification of any lender that assisted in preparing or providing such materials.
- Staffing services on a short‐term, nonrecurring basis to assist the school with financial aid‐related functions during emergencies, including State‐declared or federally declared natural.