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The University of Illinois Urbana-Champaign does not have any preferred lender arrangements that give any lender an advantage in securing business from our students. Lenders in the private student loan industry will not be given a preferred status. Ford Federal Direct Loan Program, which provides student and parent loans through the U.S.
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Preferred Lender Status-The University of Illinois Urbana-Champaign participates in the William D.Contracting Arrangements-Employees of the Office of Student Financial Aid shall not accept from any lender or affiliate of any lender any fee, payment, or other financial benefit (including opportunity to purchase stock) as compensation for any consulting arrangement or other contract to provide services to a lender or on behalf of a lender relating to education loans.Gifts to family members of a University of Illinois employee are considered to be a gift to the employee if the gift is given with the knowledge and consent of the employee and there is reason to believe the gift was given because of the official position of that employee. This 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 incurred. Gifts include any gratuity, favor, discount, entertainment, hospitality, loan, or other item. Gifts-Employees of the Office of Student Financial Aid are prohibited from soliciting or accepting any gift from a lender, guarantor, or servicer of education loans.Revenue Sharing-The University of Illinois and its employees will not enter into any type of revenue-sharing arrangement with any lender, guarantor, or servicer.The Student Loan Code of Conduct also confirms that the University of Illinois Urbana-Champaign does not have preferred lender arrangements of any kind or a preferred lender list. Items in this Code of Conduct provide additional standards of conduct for employees with responsibility for student financial aid and do not replace any existing or future requirements imposed by the State of Illinois or the University of Illinois related to codes of conduct, conflict of interest policies, ethics training, or other such requirements. The Student Loan Code of Conduct has been established to meet the requirements contained in the 2008 Higher Education Opportunity Act. The Student Loan Code of Conduct applies to all employees who work in the Office of Student Financial Aid and all other University of Illinois employees, including agents of the university, who have responsibilities related to educational loans or other forms of student financial aid.
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The University of Illinois Urbana-Champaign has adopted this Student Loan Code of Conduct to serve as the formal guiding principles in insuring the integrity of the student aid process and ethical conduct of employees in regard to student loan practices.