Title IV Code of Conduct
(1) BAN ON REVENUE-SHARING ARRANGEMENTS.—
(A) PROHIBITION.—CCU shall not enter into any revenue-sharing arrangement with any lender.
(i) a lender provides or issues a loan that is made, insured, or guaranteed under this title to students attending the institution or to the families of such students; and
(2) GIFT BAN.—
(A) PROHIBITION.—No officer or employee of CCU who is employed in the financial aid office of the institution or who otherwise has responsibilities with respect to education loans, or agent who has responsibilities with respect to education loans, shall solicit or accept any gift from a lender, guarantor, or servicer of education loans.
(i) IN GENERAL.—In this paragraph, 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. The term includes a gift of services, transportation, lodging, or meals, whether provided in kind, by purchase of a ticket, payment in advance, or reimbursement after the expense has been incurred.
(I) Standard material, activities, or programs on issues related to a loan, default aversion, default prevention, or financial literacy, such as a brochure, a workshop, or training.
(aa) the institution’s staff are in control of the counseling, (whether in person or via electronic capabilities); and
(V) Philanthropic contributions to an institution from a lender, servicer, or guarantor of education loans that are unrelated to education loans or any contribution from any lender, guarantor, or servicer that is not made in exchange for any advantage related to education loans.
(iii) RULE FOR GIFTS TO FAMILY MEMBERS.—For purposes of this paragraph, a gift to a family member of an officer or employee of an institution, to a family member of an agent, or to any other individual based on that individual’s relationship with the officer, employee, or agent, shall be considered a gift to the officer, employee, or agent if—
(I) the gift is given with the knowledge and acquiescence of the officer, employee, or agent; and
(3) CONTRACTING ARRANGEMENTS PROHIBITED.—
(A) PROHIBITION.—An officer or employee who is employed in the financial aid office of CCU or who otherwise has responsibilities with respect to education loans, or an agent 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.
(i) an officer or employee of an institution who is not employed in the institution’s financial aid office and who does not otherwise have responsibilities with respect to education loans, or an agent who does not have responsibilities with respect to education loans, from performing paid or unpaid service on a board of directors of a lender, guarantor, or servicer of education loans;
(4) INTERACTION WITH BORROWERS.—CCU shall not—
(A) for any first-time borrower, assign, through award packaging or other methods, the borrower’s loan to a particular lender; or
(5) PROHIBITION ON OFFERS OF FUNDS FOR PRIVATE LOANS.—
(A) PROHIBITION.—CCU shall not request or accept from any lender any offer of funds to be used for private education loans (as defined in section 140 of the Truth in Lending Act), including funds for an opportunity pool loan, to students in exchange for the institution providing concessions or promises regarding providing the lender with—
(i) a specified number of loans made, insured, or guaranteed under this title;
(B) DEFINITION OF OPPORTUNITY POOL LOAN.—In this paragraph, the term “opportunity pool loan” means a private education loan made by a lender to a student attending the institution or the family member of such a student that involves a payment, directly or indirectly, by such institution of points, premiums, additional interest, or financial support to such lender for the purpose of such lender extending credit to the student or the family.
(6) BAN ON STAFFING ASSISTANCE.—
(A) PROHIBITION.—CCU shall not request or accept from any lender any assistance with call center staffing or financial aid office staffing.
(i) professional development training for financial aid administrators;
(7) ADVISORY BOARD COMPENSATION.—Any employee who is employed in the financial aid office of CCU, or who otherwise has responsibilities with respect to education loans or other student financial aid of the institution, 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, except that the employee may be reimbursed for reasonable expenses incurred in serving on such advisory board, commission, or group.