Staff members in the Financial Aid Office have always been bound to act in compliance with the vision outlined in our Mission Statement and the National Association of Student Financial Aid Administrator's Statement of Ethical Principles and Code of Conduct for Institutional Financial Aid Professionals.
Rivier University will not enter into a revenue-sharing arrangement with a lender. Such a plan is defined as one that the lender pays a fee or provides other material benefits, including revenue or profit sharing to the school, an officer or employee of the school, or an agent and in exchange, the school recommends the lender or the lender’s loan products and the lender makes Title IV loans to the students and parents of the students attending the school.
An officer or employee of the Financial Aid Office or who has responsibilities with respect to education loans or an agent who has responsibilities to education loans shall not accept any fee, payment, or other financial benefit (including the opportunity to purchase stock) as compensation from any lender or affiliate for any type of consulting arrangement or other contract to provide services to the lender or on behalf of the lender with regard to education loans. Staff members cannot accept supplemental employment with lenders that creates any potential conflict of interest with the operations of the Financial Aid Office.
Rivier University will not request or accept any assistance from a lender with call center or financial aid office staffing. However, professional development training for financial aid administrators, educational counseling/financial literacy/debt management materials that disclose the identification of the lender that assisted in preparing and providing the materials, or staffing services on a short-term, non-recurring basis during state or federally declared natural disasters, and other localized disaster and emergencies identified by ED are not prohibited.
No staff member shall accept any gift worth more than $10 from a representative of a student loan provider. Gifts include meals, travel, lodging, entertainment, and in-kind services (such as printing customized consumer information for borrowers with the school's logo).
Staff can participate in meals, refreshments, and receptions in conjunction with meetings, trainings, or conference events open to all attendees.
Staff will place all unsolicited marketing materials (such as pens, pads and markers) received from lenders in the reception area for the use of students and parents.
Office visits by representatives of major lenders are normally limited to once a quarter.
Staff members shall not accept any remuneration or expense-reimbursement for serving as a member of a lender's advisory board. Staff may participate on advisory boards that are unrelated in any way to higher education loans.
Rivier University does not currently require staff to complete and submit financial disclosure forms as a condition of employment. All staff members in the Financial Aid Office will disclose to his or her immediate supervisor if an assigned task could create a perceived or real "conflict of interest" in the eyes of the public.
Staff who knowingly fail to follow these guidelines will be subject to disciplinary action.
Lender Participation in On-Campus Special Events
As a service to our student and their families, we have invited lender representatives to speak regarding the financial aid process, debt management and financial literacy. Our families have indicated that they welcome these workshops and we plan to continue to host these events. Our lending partners are clearly identified.