Newport Business Institute Student Lending Code of Conduct
Newport Business Institute is committed to providing students
and their families with the best information and processing alternatives
available regarding student borrowing. In support of this and
in an effort to rule out any perceived or actual conflict of
interest between Newport Business Institute officers, employees
or agents and education loan lenders, Newport Business Institute
has adopted the following:
Newport Business Institute does not participate
in any revenue-sharing arrangements with any lender.
Newport
Business Institute does not permit any officer, employee or
agent of the school who is employed in the financial aid office
or is otherwise involved in the administration of education
loans to accept any gifts of greater than a nominal value from
any lender, guarantor or servicer.
Newport Business Institute does not permit
any officer, employee or agent of the school who is employed
in the financial aid office or is otherwise involved in the
administration of education loans to accept any fee, payment
or other financial benefit (including a stock purchase option)
from a lender or affiliate of a lender as compensation for
any type of consulting arrangement or contract to provide services
to a lender or on behalf of a lender relating to education
loans.
Newport Business Institute does not permit
any officer, employee or agent of the school who is employed
in the financial aid office or is otherwise involved in the
administration of education loans to accept any thing of value
from a lender, guarantor, or group of lenders and/or guarantors
in exchange for service on an advisory board, commission or
other group established by such a lender, guarantor group of
lenders and/or guarantors. Newport Business Institute does
allow for the reasonable reimbursement of expenses associated
with participation in such boards, commissions or groups by
lenders, guarantors, or groups of lenders and/or guarantors.
Newport Business Institute does not assign
a lender to any first-time borrower through financial aid packaging
or any other means.
Newport
Business Institute recognizes that a borrower has the right
to choose any lender from which to borrow to finance his/her
education. Newport Business Institute will not refuse to
certify or otherwise deny or delay certification of a loan
based on the borrower’s
selection of a lender and/or guarantor.
Newport Business Institute will not request
or accept any offer of funds to be used for private education
loans to students from any lender in exchange for providing
the lender with a specified number or volume of Title IV loans,
or a preferred lender arrangement for Title IV loans.
Newport Business Institute will not request
or accept any assistance with call center or financial aid
office staffing.
