Educational Loan Code of Conduct
Professional Skills Institute is committed to providing students and their families with the best information regarding student borrowing.
The college participates in the Federal Title IV Direct Loan Program and as a condition of this participation and to comply with the Higher Education Opportunity Act of 2008, Professional Skills Institute has adopted an educational loan code of conduct. To ensure the integrity and compliance of the administration of our student loan programs, the following code will be followed by all employees:
- Professional Skills Institute shall not participate in any revenue-sharing arrangements with any lender.
- Professional Skills Institute does not allow any officer, employee or agents employed by the Financial Aid Office to accept any gifts, payment or other financial benefit from a lender, guarantor or servicer. Financial benefit for any type of consulting arrangement is also banned.
- No Financial Aid Office employee will assign a lender to any first time borrower except in the case of awarding Federal Direct Loan. No Financial Aid Office employee will refuse to certify or delay certification of any loan based on the borrowers selection of a lender
- No Financial Aid Office employee or any college employee will accept any offer of funds from a lender to be used for private educational loans to students in exchange for providing the lender with a specified number or volumes of loans or a preferred lender arrangement.
- Professional Skills Institute shall not request or accept from lenders, servicers or guarantor agencies, any assistance with financial aid office staffing or allow phone calls to be made on behalf of the college.