Student Lending Code of Conduct
To prohibit a conflict of interest when administering financial aid, the employees of North Idaho College will comply with the following:
- North Idaho College does not participate in any revenue-sharing arrangements with any lender.
- North Idaho College does not permit any employee of the school who is involved in the administration of financial aid to accept any gifts of greater than a nominal value from any lender, guarantor, or servicer
- North Idaho College does not permit any employee of the school 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.
- North Idaho College does not permit any employee 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, commission or other group established by such a lender, guarantor group of lenders and/or guarantors. North Idaho 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.
- North Idaho College does not assign a lender to any first-time borrower through financial aid packaging or any other means.
- North Idaho College recognizes that a borrower has the right to choose any lender from which to borrow to finance his/her education. North Idaho College will not refuse to certify, deny, or delay certification of a loan based on the borrower's selection of a lender and/or guarantor.
- North Idaho 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.
- North Idaho College will not request or accept any assistance with call center or financial aid staffing.