Financial Aid Code of Conduct – Lincoln Memorial University
Staff members in the Lincoln Memorial Financial Aid Office have always been bound to act in compliance with LMU’s employee Code of Conduct (a copy is available from LMU’s Human Resources Office) and the National Association of Student Financial Aid Administrator's Statement of Ethical Principles and Code of Conduct for Institutional Financial Aid Professionals.
- No staff member shall accept any gift worth more than $10 from a representative of a student loan provider. The Department of Education has defined "gift" as: "Any gratuity, favor, discount, entertainment, hospitality, loan or other item valued at more than the amount listed above. The term includes services, transportation, lodging, or meals, whether provided in kind, by purchase of a ticket, payment in advance, or by reimbursement."
- Staff can participate in meals, refreshments, and receptions in conjunction with professional association meetings, trainings, or conference events open to all attendees.
- Staff members are free to pursue part-time employment outside of their scheduled work day. However, any staff member who is approached by a lender with an offer for supplemental employment will provide full written details to his/her supervisor. Staff members cannot accept supplemental employment with lenders that creates any potential "conflict of interest" with the operations of the LMU Financial Aid Office.
- Staff members shall not accept any remuneration or expense-reimbursement for serving as a member of a lender's advisory board.
- All staff members in the LMU 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.
- Lincoln Memorial University issues federal Stafford loans through the Department of Education’s William D. Ford Direct Loan program only. Therefore, LMU does not have a “preferred lender list.” In addition, LMU does not have a revenue-sharing arrangement with any student loan provider. These agreements are prohibited.
- Lender account representatives are not permitted to work within the Financial Aid Office or to pass themselves off as employees of LMU.