Loan Code of Conduct

The mission of the Capitol College Financial Aid Office is to fill the gap that exists between your cost of attendance and what you and your family can afford to pay from savings and other resources. We work toward that end professionally and with your best interest at heart.

The following is our Loan Code of Conduct:

1. Capitol College financial aid employees are prohibited from receiving anything of value from any lending institution in exchange for any advantage sought by the lending institution.
2. Capitol College will not solicit, accept or receive any gifts whatsoever - including those construed as part of a revenue-sharing practice - from lenders in exchange for advantageous loan consideration. This prohibition includes trips sponsored by lenders.
3. Capitol College's financial aid officers are prohibited from receiving payment for serving on lenders' advisory boards.
4. Capitol College will disclose the criteria used to select preferred lenders, and students must be told of their rights to borrow from companies not recommended by the school.
5. Capitol College ensures that employees of lenders never identify themselves to students as employees of the college. No lender employee will work or provide staffing in the Capitol College Financial Aid Office.
6. Lenders must disclose to the college the following: range of rates they charge to students at the college, the number of borrowers at each rate at the school, and the lender's historic default rates at the school. This will ensure that the Financial Aid Office will have the information it needs to select preferred lenders who are best for students.
7. No lender on Capitol College's preferred lender list has an agreement to sell its loans to another lender without disclosing this fact. In addition, no lender may bargain to be a preferred lender with respect to a certain type of loan by providing benefits to the college.

Capitol College recommends lenders who maintain the highest ethical standards, business integrity and customer service, including:

• a proactive customer communication system that provides easy access for borrowers and information regarding cumulative borrowing and repayment terms;
• excellent problem-resolution service so students and parents receive loan funds and services in a timely manner;
• ease of application processes;
• web-based application processes;
• a service or marketing representative dedicated to the college;
• easy pre-approval process for the PLUS loan program;
• loan and debt management assistance including deferment, forbearance and other repayment options;
• recommendations from other financial aid colleagues as to which lenders provide the best products and services; and
• default rate and stability of lenders.