OC will not recommend a lender in exchange for material benefits to OC or its employees.
OC will not accept gifts from lenders or servicers valued at more than a nominal amount, subject to the exceptions below:
Exceptions to this rule include
materials or services related to loan issues, default aversion and prevention, or financial literacy;
expenses integrally related to training designed to improve service to OC and contribute to professional development;
favorable loan conditions provided to students employed by OC, if the same conditions are provided to all other students at OC;
entrance and exit counseling services controlled by OC staff and that do not promote a specific lender;
contributions from a lender, guarantor or servicer made to OC that are philanthropic, unrelated to education loans or are not made in exchange for an advantage related to education loans;
education grants, scholarships or financial aid administered by or on behalf of a state
Family members and others with a relationship with an OC employee cannot accept gifts given due to the family member’s position at OC.
OC officers, employees and agents cannot be a consultant for a lender or a related entity for money or benefits (including the opportunity to purchase stocks).
OC will not assign a loan from a first-time borrower to a particular lender or delay or refuse to certify a loan based on the borrower’s choice of lender or guarantor. OC informs borrowers that they have the right and ability to select the lender of their choice, regardless of the lender list.
OC will not request or receive an offer of funds from a lender for private education loans (including opportunity pool loans) to OC students in exchange for concessions or promises to the lender of a number or volume of Title IV loans to be made by the lender or a treat the lender as a “preferred” lender for such loans.
OC will not request or accept assistance from a lender for call center or financial aid office staffing.
OC financial aid employees may serve on an advisory board of a lender or guarantor, but may only receive reimbursement for reasonable expenses related to serving on the board.