Southern University and Agricultural and Mechanical College

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Office of Financial Aid

CODE OF CONDUCT

 

Southern University and A&M College (SUBR) Student Financial Aid is committed to providing the highest level of service to its students and their families. We believe that the foundation of our service to students is grounded in the adherence to strict ethical and professional standards. It is our objective to administer the various financial aid programs in accordance with all governmental regulations and Southern University and A&M College (SUBR) policies and procedures.

The staff of the Office of Student Financial aid will ensure that:

  • No action will be taken by financial aid staff that is for their personal benefit or could be perceived to be a conflict of interest.
  • Employees within the financial aid office will not award aid to themselves or their immediate family members. Staff will reserve this task to an institutionally designated person, to avoid the appearance of a conflict of interest.
  • No amount of cash, gift, or benefit in excess of a de minim is amount shall be accepted by a financial aid staff member from any financial aid applicant (or his/her family), or from any entity doing business with or seeking to do business with the institution (including service on advisory committees or boards beyond reimbursement for reasonable expenses directly associated with such service).
  • Information provided by the financial aid office is accurate, unbiased, and does not reflect preference arising from actual or potential personal gain.
  • Institutional award notifications and/or other institutionally provided materials shall include the following:
  •  
    • A breakdown of individual components of the institution's  Cost of Attendance, designating all potential billable charges.
    • Clear identification of each award, indicating type of aid, i.e. gift aid (grant, scholarship), work, or loan.
    • Standard terminology and definitions, using NASFAA's glossary of award letter terms.
    • Renewal requirements for each award.
  • All required consumer information is displayed in a prominent location on the institutional website(s) and in any printed materials, easily identified and found, and labeled as "Consumer Information".
  • Financial aid professionals will disclose to their institution any involvement, interest in, or potential conflict of interest with any entity with which the institution has a business relationship.

 

Financial Aid Code of Conduct - Student Loans

Southern University and A&M College (SUBR) is a participant in the William D. Ford Federal Direct Loan Program. Direct Loans are low-interest loans for students and parents to help pay for the cost of a student's education. The lender is the U.S. Department of Education (the Department) rather than a bank or other financial institution. Though the majority of aid recipients receive loans through the federal programs, private (also called alternative) student loans can be a valuable tool in meeting your educational goals. In processing private student loans, the Financial Aid Office adheres to the following principles:

  1. No fee or material benefits are received from lenders in exchange for the promotion or processing of its loans.
  2. No employee of the financial aid office may receive gifts from a lender, guaranty agency or loan servicer.
  3. No employee of the financial aid office may enter into a contracting arrangement with a lender or affiliate that provides a fee, payment, or compensation for any type of consulting arrangement or contract to provide services to or on behalf of a lender relating to education loans.
  4. Southern University does not have a "Preferred Lender's Listing".  It allows students the option of selecting the Lender of their choice.  In the event that we moves a "Preferred" lender's list, it  will be compiled without prejudice and for the sole benefit of the students attending the institution. The information included about lenders and loan terms will be transparent, complete, and accurate. The complete process through which preferred lenders are selected will be fully and publically disclosed.   Borrowers will not be auto-assigned to any particular lender, other than the William D. Ford Direct Loan Program (U.S. Department of Education).
  5. The financial aid office will not refuse to certify, or delay certification of any private education loan based on the borrower's selection of a particular lender or guaranty agency.
  6. The financial aid office does not request or accept any staffing assistance from lenders.

All terms and their usage are as defined in Section 493 of the Higher Education Opportunity Act of August 14, 2008.