Code of Conduct for Educational Loans

Iowa Code Section 261F.2 and Title 34 of the Code of Federal Regulations, Section 601.21, Sections 487(a) (25) and 487(e) of the Higher Education Act of 1965, as amended, require the development, administration and enforcement of a code of conduct governing educational loan activities. The University of Northern Iowa and its officers, employees, trustees and agents (including the Alumni Association, booster clubs and other organizations associated with the University) agree to the provisions of this Code of Conduct and will refrain from:

  • Packaging private educational loans in a student’s financial aid award, except under either or both of the following conditions:
    • The borrower is ineligible for additional funding
    • The borrower has exhausted the limits of his or her eligibility for Title IV loans (Federal Perkins, Direct Subsidized and Unsubsidized, and, as applicable, parent or Grad PLUS)
  • Accepting impermissible gifts, goods, or services from a lender, lender servicer or guarantor. Certain services, materials or other items of a nominal value ($3.00 or less) may be accepted. Family members are also prohibited from receiving such gifts, goods or services.
  • Refusing to certify or delaying the certification of an education loan based on a borrower's choice of lender.  
  • Accepting philanthropic contributions from a lender, lender servicer or guarantor that are related to the educational loans provided by the lender, lender servicer or guarantor.
  • Serving on or otherwise participating as a member of an advisory council for a lender, lender affiliate, lender servicer, or guarantor.
  • Accepting from a lender or its affiliate any fee, payment or other financial benefit as compensation for any type of consulting arrangement or other contract to provide services to or on behalf of the lender relating to educational loans.
  • Requesting or accepting fees, competitive rates, or other benefits in exchange for a specified amount of loan activity, or exchange for endorsing a lender or the lender’s loan products.
  • Entering into any revenue sharing arrangement with a lender.
  • Assigning a first time borrower’s loans to a particular lender or refusing or delaying certification of any loans based on a borrower’s selection of a particular lender or guaranty agency.
  • Requesting or accepting any lender assistance with call center or financial aid office staffing. This does not generally apply to professional development training, educational or information materials, or staffing services on a short-term, nonrecurring basis during an emergency.

The University of Northern Iowa is committed to providing the information and resources necessary to help every student achieve educational success. To accomplish this goal the financial aid staff will consider each student’s individual needs. 

Code of Conduct (PDF)