Code of Conduct
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In keeping with its role as a premier public college devoted to the highest standards, Richard Bland College of the College of William and Mary is committed to an environment of uncompromising integrity and ethical conduct with regard to its student loan practices. To that end, the college will abide by the following code of conduct:
1. Revenue Restrictions: Richard Bland College of the College of William and Mary and its employees may not receive anything of value from any lending institution in exchange for any advantage sought by the lending institution. Lenders may not pay for a place on the College's preferred lender list.
2. Gift and Travel Restrictions: Employees of the College may not take any gifts of value from any lending institution, when such things are offered in connection with the employees financial aid work.
3. Advisory Board Compensation Rules: College employees with responsibility for financial aid work may not receive anything of value for serving on the advisory board of any lending institution.
4. Preferred Lender Guidelines: The College's preferred lender list must be based solely on the best interest of the students who may use the list, without regard to the financial interest of the College.
5. Preferred Lender Disclosure: On all preferred lender list, the College must clearly and fully disclose the criteria and process used to select preferred lenders. Students must also be told that they have the right and ability to select the lender of their choice regardless of the preferred lender list.
6. Loan Resale Disclosure: The College may not permit a lender to appear on a preferred lender list unless the lender agrees to disclose to the student at the time of the loan any pre-existing agreement to sell the loan to another lender.
7. Call-Center Restrictions: The College may not permit employees or agents of lenders to identify themselves to students as employees of the College. No employee or agent of a lender may be employed by the Office of Financial Aid.
1. Revenue Restrictions: Richard Bland College of the College of William and Mary and its employees may not receive anything of value from any lending institution in exchange for any advantage sought by the lending institution. Lenders may not pay for a place on the College's preferred lender list.
2. Gift and Travel Restrictions: Employees of the College may not take any gifts of value from any lending institution, when such things are offered in connection with the employees financial aid work.
3. Advisory Board Compensation Rules: College employees with responsibility for financial aid work may not receive anything of value for serving on the advisory board of any lending institution.
4. Preferred Lender Guidelines: The College's preferred lender list must be based solely on the best interest of the students who may use the list, without regard to the financial interest of the College.
5. Preferred Lender Disclosure: On all preferred lender list, the College must clearly and fully disclose the criteria and process used to select preferred lenders. Students must also be told that they have the right and ability to select the lender of their choice regardless of the preferred lender list.
6. Loan Resale Disclosure: The College may not permit a lender to appear on a preferred lender list unless the lender agrees to disclose to the student at the time of the loan any pre-existing agreement to sell the loan to another lender.
7. Call-Center Restrictions: The College may not permit employees or agents of lenders to identify themselves to students as employees of the College. No employee or agent of a lender may be employed by the Office of Financial Aid.