Student Loan Code of Conduct

Colorado School of Mines adopts the following Student Loan Code of Conduct to serve as the guiding principles in ensuring the integrity of the student financial aid process. This code of conduct is in compliance with the 2008 Higher Education Opportunity Act, enacted August 14, 2008. All Mines employees who have responsibilities with respect to educational loans are required to comply with this Student Loan Code of Conduct.

1. Prohibition of Revenue-Sharing
Colorado School of Mines will not enter into any revenue-sharing arrangements with any lender. No employee of the financial aid office may enter into a contracting arrangement with a lender.  Revenue-sharing is defined to mean any arrangement between an institution and a lender making Title IV loans wherein the institution recommends the lender or the loan products, and in exchange, the lender pays a fee or provides a service to the institution or its employees.

2. Gift Restrictions 
An employee who has responsibilities with respect to education loans, or any of their family members, shall not 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, entertainment, hospitality, loan, or other item having a monetary value of more than a de minimus amount.

3. Prohibition on Contracting Arrangements
An employee who has responsibilities with respect to education loans 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.

4. Prohibition on Offers of Funds
Mines shall not, through a financial aid offer or other method, assign a first-time 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.

5. Preferred Lender Lists
Mines shall not request or accept any offer of funds to be used for private education loans to students from any lender in exchange for the institution providing concessions or promises to a lender regarding a specified number of loans made, insured, or guaranteed; a specified volume of loans; or a preferred lender arrangement for such loans. Mines does not use a preferred lender list and will not restrict students from selecting a particular lender.

6. Staff Assistance
Mines shall not request or accept from any lender any assistance with call center staffing or financial aid office staffing unless those services are short-term and nonrecurring, in the event of an emergency or disaster or for office staff professional development.

7. Advisory Board Compensation
Any employee who has responsibilities with respect to education loans or other student financial aid, 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.