Hampshire College, in accordance with the Higher Education Opportunity Act (HEOA) of 2008, adheres to a code of conduct related to private education loans. The code of conduct applies to the officers, employees, and agents of the College. Our code of conduct includes the following:
- We ban revenue-sharing arrangements with any lender in which the lender pays a fee or provides other material benefits, including revenue or profit-sharing, to the College or to its officers, employees, or agents.
- We ban employees of the financial aid office receiving gifts from a lender, guaranty agency, or loan servicer. No officer or employee of our financial aid office may solicit or accept any gift from a lender, guarantor, or servicer of education loans.
- We ban contracting arrangements. No officer or employee of our financial aid office may accept from a lender, or an affiliate of any lender, any fee, payment, or other financial benefit as compensation for any type of consulting arrangement or contract to provide services to or on behalf of a lender relating to education loans.
- We do not steer borrowers to particular lenders or delay loan certifications. We do not refuse to certify, or delay the certification, of any loan based on the borrower's choice of a particular lender or guaranty agency.
- We prohibit offers of funds for institutional private loans. We do not request or accept from any lender any offer of funds for private loans in exchange for a specified loan volume or a preferred lender arrangement.
- We ban staffing assistance from lenders. We do not request or accept from any lender any assistance with financial aid office staffing.
- We ban advisory board compensation. Any employee of our financial aid office who serves on an advisory board, commission, or group established by a lender(s) or guarantor(s), is prohibited from receiving anything of value from the lender, guarantor, or group, except for reimbursement for reasonable expenses incurred by the employee for serving on the board.