Know This!
Code of Conduct
The Board of Governors of the State ÅÝܽÊÓƵapp System recognizes that ensuring the integrity of the ÅÝܽÊÓƵapp financial aid process is critical to providing fair and affordable access to higher education in Florida. Therefore, the Board has formalized the following guiding principles that shall be effective immediately and must be adopted by each ÅÝܽÊÓƵapp's Board of Trustees as soon as practicable. These guidelines are designed to avoid any potential for a conflict of interest between the ÅÝܽÊÓƵapp, its ÅÝܽÊÓƵapps or their parents in the ÅÝܽÊÓƵapp financial aid process. Accordingly, each ÅÝܽÊÓƵapp shall take all reasonable steps to adhere to the following principles in the ÅÝܽÊÓƵapp's financial aid operations:
1. ÅÝܽÊÓƵapp employees should receive no personal benefit.
No officer, trustee or employee of the ÅÝܽÊÓƵapp shall accept anything of on his or her behalf or on behalf of another person or entity from any Lending Institution. For example, cash, stocks, gifts, entertainment, expense-paid trips, etc. should never be accepted from a Lending Institution. Likewise, an individual should never receive payment or reimbursement from a Lending Institution for lodging, meals or travel to conferences or training seminars. However, an officer, trustee or employee of the ÅÝܽÊÓƵapp may: (a) conduct non-ÅÝܽÊÓƵapp business with any Lending Institution and, subject to state law, receive value in connection with such non-ÅÝܽÊÓƵapp business, so long as such value is not intended to influence the officer, trustee or employee in conducting ÅÝܽÊÓƵapp business; (b) conduct ÅÝܽÊÓƵapp business and, subject to state law, receive value on behalf of the ÅÝܽÊÓƵapp that is unrelated to the ÅÝܽÊÓƵapp loan activities of the Lending Institution; (c) attend conferences and meetings of tax-exempt organizations that are funded or sponsored by more than one entity and, subject to state law, receive materials, refreshments, and other things of like value provided at such professional conferences and meetings; and, (d) hold membership in, serve on the board of or participate in the activities of any tax-exempt organization and, subject to state law, receive travel reimbursements and other things of like value from the tax-exempt organization for such activities.
2. ÅÝܽÊÓƵapp employees should not serve on lender advisory boards for remuneration.
No officer, trustee or employee of the ÅÝܽÊÓƵapp who makes financial aid decisions for the ÅÝܽÊÓƵapp or who is employed in, supervises or otherwise has responsibility or authority over the ÅÝܽÊÓƵapp's financial aid office shall receive any remuneration for serving as a member or participant of an ÅÝܽÊÓƵapp loan advisory board of a Lending Institution or any reimbursement of expenses for such service. Any officer, trustee or employee of the ÅÝܽÊÓƵapp who serves as a member or participant of a Lending Institution board shall recuse himself or herself from any board discussions regarding the ÅÝܽÊÓƵapp's financial aid operations.
3. The ÅÝܽÊÓƵapp should not enter into any prejudicial agreement which provides and advantage/benefit to a Lending Institution.
The ÅÝܽÊÓƵapp shall not accept anything of value from any Lending Institution in exchange for any advantage or consideration provided to the Lending Institution related to its ÅÝܽÊÓƵapp loan activities, including but not limited to revenue-sharing, printing costs or below-cost computer hardware or software. Likewise, the ÅÝܽÊÓƵapp shall not allow any Lending Institution to: (a) staff the ÅÝܽÊÓƵapp's financial aid office at any time; or (b) communicate with the ÅÝܽÊÓƵapp's ÅÝܽÊÓƵapps or their parents in such a manner as to create the impression that the Lending Institution is an employee or agent of the ÅÝܽÊÓƵapp in connection with the ÅÝܽÊÓƵapp's ÅÝܽÊÓƵapp financial aid operations, including through the use of mascots, logos, etc.
4. The ÅÝܽÊÓƵapp is prohibited from:
- Certain contractual agreements. The ÅÝܽÊÓƵapp shall not enter into any agreement with a Lending Institution to provide alternative (i.e., non-federal or "opportunity") ÅÝܽÊÓƵapp loan programs if the provision of such alternative loan programs prejudices other ÅÝܽÊÓƵapps or parents.
- Use of Preferred Lender Lists. The ÅÝܽÊÓƵapp will not provide a list of preferred lenders for ÅÝܽÊÓƵapps to use for purposes of obtaining alternative loans.
The ÅÝܽÊÓƵapp System complies with the Florida Board of Governors Regulation adopted December 2007 as follows: