UW-L Financial Aid Policies
UW-L Financial Aid Office Code of Conduct
University of Wisconsin System Policy on Institutional and
Employee Relationships
with Educational Loan Lenders
4.0
OBLIGATIONS OF UW INSTITUTIONS
4.1 UW institutions
may not solicit, accept, or enter into an agreement in which an
educational loan lender provides fees, revenue sharing or
material benefits to the UW institution in exchange for the
institution or its employees recommending the lender or its loan
products.
4.2 UW
institutions:
(a) May not enter into an agreement with a
lender of education loans for, or solicit or accept from a
lender of education loans, any funds that would be allocated or
used for opportunity pools or any similar arrangements; and
(b) May not solicit or accept assistance for
call center or financial aid staffing from a lender of education
loans.
4.3 UW institutions
must inform students who apply for financial aid:
(a) That students may use any lender who is
eligible to make education loans; and
(b) Of available federal loans and encourage
students to explore and weigh the use of federal loans that are
guaranteed, regulated, and may be more advantageous, before
pursuing private or alternative loans.
4.4 UW institutions
may maintain lender lists, either in print or other media, of
educational loan lenders, subject to the following:
(a) UW institutions must use an evaluative
process for the inclusion of lenders on the list; information
regarding the selection of lenders, the evaluative process used,
and the criteria used for such selection must be available to
the public upon request;
(b) A lender list must be accompanied by a
statement explaining that students are not limited to the
lenders included on the list;
(c) A lender list must include a minimum of
three lenders; and
(d) UW institutions should work with the
educational loan lenders on the list to ensure that specific
loan information and key details (including, but not limited by
enumerations to, the terms, interest rate, and repayment
requirements) are available from the lender in a clear and
understandable manner.
4.5 Notwithstanding
any other provisions of this Policy, UW institutions may accept
from lenders of education loans:
(a) Counseling and educational materials for
use by students and their families regarding student lending
laws, education loans, financial literacy, debt management and
other topics relevant to providing students and their families
with financial aid assistance; any such materials must clearly
disclose the source of said materials and may not use
trademarks, logos, mascots or other symbols associated with the
UW institution that would suggest any UW institutional
endorsement of the lender or product;
(b) Training to UW employees regarding student
lending laws, education loans, financial literacy, debt
management and other topics relevant to student financial aid;
and
(c) Assistance in the same manner that the
U.S. Department of Education may assist UW institutions and
employees under the Department's Direct Loan Program.
4.6 Recognizing
that separate support organizations, such as alumni associations
or booster organizations, may have their own agreements with
education loan lenders, UW institutions will urge such
organizations to adhere to appropriate standards of conduct for
entering into such agreements, as developed by their
professional associations.
5.0 OBLIGATIONS OF UW EMPLOYEES
5.1 UW employees
may not solicit, accept, or enter into any agreement in
violation of paras. 4.1 and 4.2 of this Policy, and may not
engage in conduct that violates the conflict of interest and
ethical standards of Wis. Stats.
§
19.41, et. seq., Code of Ethics for Public Officials and
Employees; and UWS 8 or ER-MRS 24, Wis. Adm. Code.
5.2 UW employees may, in order to improve
service to students, participate on an advisory council of an
educational loan lender, but may not receive compensation or
reimbursement from the lender for any costs incurred as part of
such participation, consistent with UW Financial Administration
Policy F-30.
5.3 UW employees
will be regularly informed regarding the provisions of this
Policy.
The University of Wisconsin - La Crosse Financial Aid
Office adheres to the University of Wisconsin System Policy on
Institutional and Employee Relationships with Educational Loan
Lenders.