OREGON COLLEGE LOAN
CODE OF CONDUCT
EFFECTIVE as of April 30, 2008.
A. "College" shall mean any postsecondary educationinstitution in Oregon.
B. "College employees" shall mean any College officer, administrator,or employee.
C. "Education loan lending institution" shall mean anyentity other than a college or university which is in the business of makingloans to students, parents or others for the purpose of financing postsecondaryeducation expenses.
II. Codeof Conduct
1. REVENUESHARING PROHIBITION - A College and its employees are prohibited from receivinganything of value from any education loan lending institution in exchange forpromoting the education loan products of that lending institution. This provision does not prohibit Collegeemployees from receiving compensation for conducting non-College business withany education loan lending institution or from accepting compensation that isoffered to the general public. Thisprovision also does not prohibit a College from accepting charitablecontributions from an education loan lending institution, so long as theCollege gives no competitive advantage or preferential treatment to theeducation loan lending institution related to its education loan activity inexchange for such support.
2. GIFTAND TRIP PROHIBITION - College employees are prohibited from receivinganything of more than nominal value ($50) from any education loan lendinginstitution during any 12-month period. This prohibition includes trips for college employees paid for byeducation loan lenders; except that this provision shall not be construed toprohibit any College employee from receiving compensation for the conduct ofnon-College business with any education loan lending institution, or fromaccepting compensation that is offered to the general public.
3. ADVISORYBOARD COMPENSATION RULES - College employees are prohibited from serving onthe advisory board of any education loan lending institution. Education loan lending institutions mayobtain advice and opinions of financial aid officials on financial aid productsand services through Trade Associations, industry surveys or other mechanismsthat do not require service on education loan lending institution advisoryboards, provided such person receives no compensation for such service. This provision shall not apply toparticipation on advisory boards that are unrelated in any way to financial aidor higher education loans.
4. PREFERREDLENDER GUIDELINES - College "preferred lender lists" must be based on thecharacteristics of the education loan products – including interest rates,borrower benefits, and services to borrowers – offered by the listed educationloan lending institutions rather than on the financial interests of thecollege. If a college also makes educationloans, the education loan(s) it provides must have characteristics that arecomparable to or better than those of the other education loan lendinginstitutions listed.
5. PREFERREDLENDER DISCLOSURE - All preferred lender lists must clearly and fully disclosethe criteria and process used to select preferred lenders. Every brochure, web page or other documentthat sets forth a preferred lender list shall state in the same font and samemanner as the predominant text on the document that students and their parentshave the right and ability to select the lender of their choice and are notrequired to use any lenders on the preferred lender list.
6. USEOF MASCOT, LOGO, EMBLEM, OR NAME BY LENDERS - No college shall authorize orpermit an education loan lending institution to use the name, emblem, mascot,or logo of the college; or words, pictures, marks, or symbols readilyidentified with the college; in the marketing of education loans in any waythat implies that the college endorses those loans.
7. LOANRESALE DISCLOSURE - To be eligible to appear on a preferred lender list, a lendermust disclose any agreement(s) to sell its loans to another entity. In addition, no lender may bargain to be apreferred lender with respect to a certain type of loan by providing benefitsto a college as to another type of loan.
8. LENDERIDENTIFICATION REQUIREMENT - The college will not permit employees ofeducation loan lending institutions on campus to identify themselves asemployees of the college, and no employee of an education loan lender may workin or provide staffing assistance to a college financial aid office; exceptthat employees of colleges that also make education loans may perform theirnormal functions as long as those functions comply with relevant laws andregulations, and with the other items of this Code of Conduct.
] ThisCode was prepared by the Oregon Department of Justice with the assistance of amulti-institution committee coordinated by the Oregon Independent CollegesAssociation and composed of representatives from independent institutions andcommunity colleges.