Financial Aid Code of Conduct
As a participant in the Federal Direct Loan Program, Boston University processes federal loans directly through the federal government. Boston University is committed to the following best practices with respect to private loans:
- The University will not enter into any revenue-sharing arrangement with any lender.
- The University and its employees whose work relates to financial aid will not solicit any gift and will not accept any gift of more than a de minimus value from student loan companies, guaranty agencies, or loan servicers.
- The University will not assign a borrower’s loan to a particular lender or refuse or delay certification of a loan based on a borrower’s selection of a lender or servicer.
- The University will not request or accept from any lender an offer for student loan funds, including funds for an opportunity pool loan, in exchange for a promise of a certain number of loans, a specified loan volume or a preferred lender arrangement.
- The University will not allow employees of student loan companies to staff its Financial Assistance office or other financial aid offices or to answer student or parent calls.
- University employees whose work relates to financial aid will not accept any fee, stipend, honorarium, or other payment to consult for or provide services to a lender guaranty agency or loan servicer.
- University employees whose work relates to financial aid may serve on an advisory board, commission, or group established by a lender, guarantor, or group of lenders or guarantors only with the prior written approval of the Vice President for Enrollment & Student Affairs, the Treasurer, or the Associate Vice President, Boston University Medical Campus Financial & Business Affairs. University employees who serve on an advisory board, commission, or group established by a lender, guarantor, or group of lenders or guarantors will not accept anything of value (other than reimbursement for reasonable expenses) for such service.