Student Lending Code of Conduct
Gwynedd-Mercy College is committed to providing students and their families with the best information and processing
alternatives available regarding student borrowing. In support of this and in an effort to rule out any perceived or
actual conflict of interest between Gwynedd-Mercy College officers, employees or agents and education loan lenders,
Gwynedd-Mercy College has adopted the following:
- Gwynedd-Mercy College does not participate in any revenue-sharing arrangements with any lender.
- Gwynedd-Mercy College does not permit any officer, employee or agent of the school who is employed
in the financial aid office or is otherwise involved in the administration of education loans to accept
any gifts of greater than a nominal value from any lender, guarantor or servicer.
- Gwynedd-Mercy College does not permit any officer, employee or agent of the school who is employed
in the financial aid office or is otherwise involved in the administration of education loans to accept
any fee, payment or other financial benefit (including a stock purchase option) from a lender or affiliate
of a lender as compensation for any type of consulting arrangement or contract to provide services to a
lender or on behalf of a lender relating to education loans.
- Gwynedd-Mercy College does not permit any officer, employee or agent of the school who is employed
in the financial aid office or is otherwise involved in the administration of education loans to accept
any thing of value from a lender, guarantor, or group of lenders and/or guarantors in exchange for service
on an advisory board, comission or other group established by such a lender, guarantor group of lenders
and/or guarantors, Gwynedd-Mercy College does allow for the reasonable reimbursement of expenses associated
with participation in such boards, commissions or groups by lenders, guarantors, or groups of lenders
and/or guarantors.
- Gwynedd-Mercy College does not assign a lender to any first-time borrower through financial aid packaging or any other means.
- Gwynedd-Mercy College recognizes that a borrower has the right to choose any lender from which to
borrow to finance his/her education. Gwynedd-Mercy College will not refuse to certify or otherwise deny
or delay certification of a loan based on the borrower’s selection of a lender and/or guarantor.
- Gwynedd-Mercy College will not request or accept any offer of funds to be used for private education
loans to students from any lender in exchange for providing the lender with a specified number or volume
of Title IV loans, or a preferred lender arrangement for Title IV loans.
- Gwynedd-Mercy College will not request or accept any assistance with call center or financial
aid office staffing.
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