The Lender Code of Conduct is reviewed annually by employees with loan responsibilities.
King’s College bases its selection of preferred lenders solely on the best interests of its students and their parents. The lenders we recommend are based on the benefits they offer, the customer service they provide, and the ease of processing and problem resolution we have experienced in doing business with them. When developing our list of preferred lenders, we invited lending institutions each year to submit information on their products using a Request for Information (RFI). The RFI’s are reviewed by members of the Financial Aid staff to determine which lenders offer the best benefits overall and also have a proven track record with our student and parent borrowers.
- Students and parents do have the right and ability to select the lender of their choice, regardless of our preferred lender list.
- King’s College does not accept anything of value from any lending institution, guarantors or servicers of loans in exchange for any advantage sought by the lending institution. No lender may bargain to become a preferred lender by providing benefits to the college.
- King’s College does not receive any staff assistance from employees of any lender.
- Employees of the King’s College Financial Aid Office do not receive anything of more than nominal value from any lender and employees do not receive anything of value in return for serving on a lender advisory board.
- King’s College does not assign first-time borrowers to a particular lender.
- King’s College does not allow for the contracting and consulting arrangements between its employees and lending institutions.
- King’s College prohibits revenue sharing arrangements with lenders.
- King’s College does not request or accept any offer of funds from any lender to be used for private education loans in exchange for directing borrowers to a lender.