Prohibition of Certain Remuneration to College Employees
No officer, trustee, director, employee, or agent of Roberts Wesleyan College or Northeastern Seminary (College) shall accept anything of value on his or her own behalf or on behalf of another, from a Lending Institution. Except that this should not be construed to prohibit any officer, trustee, director, employee, or agent of the college from conducting non-College business with any Lending Institution. A Lending Institution is defined as:
Any entity that itself or through an affiliate engages in the business of making loans to students, parents or others for purposes of financing higher education expenses or that securitizes such loans; or
Any entity, or association of entities, that guarantees education loans; or
Any industry, trade or professional association that receives money from any entity described above in subsections a and b above.
The prohibition set forth in number 1. Above shall include, but is not limited to, a ban on any payment or reimbursement by a Lending Institution to a College employee for lodging, meals, travel to conferences or training seminars.
Limitations on College Employees Participating on Lender Advisory Boards
College officers, trustees, directors, employees, or agents of the College may not receive any remuneration for serving as a member or participant of an advisory board of a Lending Institution, or receiving any reimbursement of expenses for so serving, provided, however, that participation on advisory boards that are unrelated in any way to higher education loans shall not be prohibited by the Agreement.
Prohibition of Certain Remuneration to the College
The College itself may not accept anything of value from any Lending Institution in exchange for any advantage or consideration provided to the Lending Institution related to its education loan activity. This prohibition shall include, but not be limited to, (i) "revenue sharing" by a Lending Institution with the University, (ii) the College's receipt from any Lending Institution of any computer hardware for which the University pays below market prices and (iii) printing costs or services.
Preferred Lender Lists
At this time the College does not have a preferred lender list. Therefore, no officers, trustees, directors, employees, or agents of the College will recommend a specific lender to a College student. Students may be referred to a neutral web site where the student is allowed to pick any lender they wish to.
Prohibition of Lending Institutions' Staffing of College Financial Aid Offices
No employee or other agent of a Lending Institution will staff the college's financial aid office or be identified to students or their parents as an employee or agent of the College.